Mitchell Urges Bahamas To Agree Position On CSME

by Amanda Banks, Tax-News.com, London

26 January 2005

The Bahamas’ Foreign Affairs Minister Fred Mitchell has expressed his hopes that the country will agree a position on the Caricom Single Market Economy by the end of the year, according to the Nassau Guardian.

Addressing a local Rotary Club meeting last week, Mr Mitchell revealed that he has commissioned the Ministry of Foreign Affairs and Ministry of Trade and Industry to prepare a paper on the Bahamas’ next step in relation to the CSME, the first moves toward which are being taken this year.

"In my view, the conclusion of this matter is do-able this year with the right planning and management," he stated.

While a member of the Caribbean Community, or Caricom, the Bahamas has opted out of participation in the single market, citing concerns over the removal of trade tariffs and freedom of movement within the community, which includes Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

However, Mitchell believes that the Bahamas cannot remain on the sidelines, and suggests that the increased trade opportunities, combined with better access to capital and skilled labour, make a compelling economic argument for the country’s inclusion.

“This debate has simply gone on for long enough, and it should be patently clear for all to see that there is nothing at all to fear," he argued.

"We need to be in, and not half in and half out. It simply makes good geopolitical sense to do so. I hope that all of us can agree and agree soon," he added.

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