The US Ambassador to the Bahamas, Richard Blankenship observed recently that the economic downturn in the United States had not had a hugely detrimental effect on the Bahamian economy, despite the close links between the two countries in terms of tourism and imports.
'The economy is on a sound footing and the basic foundation needed for a strong comeback is there,' he told the Nassau Guardian in an interview last week.
The US Ambassador observed that although the events of September 11 had negatively impacted on the number of US citizens travelling, 'we think that American consumers would have the necessary discretionary income to travel.'
Speaking to the local newspaper with regard to investment in the Bahamas by US citizens, Mr Blankenship stressed that American investors are looking for 'the return of their money as well as a return on their money', and reassured the jurisdiction's business sector that sound investment propositions will still continue to attract interest in the United States.
He also praised the authorities in the Bahamas for their cooperation in the United States' newly launched Anti-Money Laundering Strategy:
'The Bahamas has complied with the rules that have been set by the various organisations regarding its banking laws. We have had good cooperation from the Commonwealth regarding those organisations filed as terrorists designations,' he revealed.
The US Ambassador concluded the interview by asserting that the impending Free Trade Area of the Americas agreement - which will allow the free movement of capital and labour between member countries - will not have any negative impact on the main sources of income to the Bahamas, namely tourism, banking, and finance.
In fact, he argued, it is likely to increase the amount of disposable income available to Bahamians.
http://www.thenassauguardian.com/news_display.php?prid=8418&src=nassau
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