The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas must “get our house in order” for when it becomes a full WTO member rather than continue to debate the merits of joining, a private sector executive argued yesterday.

Calling for the World Trade Organisation (WTO) conversation to shift, Edison Sumner, pictured, principal of Sumner Strategic Partners (SSP), and told Tribune Business: “The discussions I have been hearing in the public space have been largely about whether we should or should not join.

“We have been talking about the benefits of going, but we also must talk about the challenges. I think that we have to be very transparent with information that we are discussing in the public domain so that everyone understands what it is that we are getting ourselves into.”

The former Bahamas Chamber of Commerce & Employers Confederation (BCCEC) chief executive added: “My view, and the information I have based on what I have been reading in the public conversations with some of the players, is that the government has already made the determination that they wish to join and have already given timelines for doing so.

“We are currently going through the negotiation process. There are five steps to full WTO accession. We are at the third stage, which is the negotiation stage, and then there will be a finalisation stage and implementation stage. The government has determined they want this process completed by the end of this year. I think it may push them a few months into 2020.

“While the discussion on whether or not to join has been a very academic discussion in the public domain, we need to shift the conversation from whether we should join or not but saying that we are joining and here’s what to expect. We should spend more time preparing our citizens for post-WTO accession.”

Mr Sumner stressed that he was not arguing for or against WTO accession, but said the train had already effectively left the station. “I use the analogy of a hurricane. When a hurricane is coming the government takes every measure to warn its citizens to prepare, with all the relevant agencies on alert for what is to come,” he explained.

“Consider the WTO as a hurricane, metaphorically speaking. All of the agencies of government should be working together to ensure The Bahamas is ready. We should now be talking about preparation. If the government has determined that it will join, unless we can pray this thing away then we can expect direct hit. When it hits us are we prepared for it. The citizens of the country should also likewise prepare themselves, study the WTO, how it will impact industry and individuals.”

Mr Sumner continued: “Whether we want to say it or not, post-WTO many people will be in jeopardy of losing their jobs and position in industry. We’re talking about the vulnerability of certain industries.

“If we’re not careful we’re going to find ourselves in a tough spot because we didn’t properly prepare. We have to prepare ourselves and get our house in order. I am not a proponent of it one way or the other. I neither support nor oppose it. I’m simply saying if it’s coming, prepare for it.”