Bermuda Premier Looks to Forge New Partnerships

Tax-news.com

12 December 1999

In a speech to the Bermuda Employers Council last week, Premier Jennifer Smith outlined how the Government intends to secure the future of Bermuda through forging new partnerships both at home and abroad. Ms Smith identified a number of key partnerships including the re-shaping of Bermuda's traditional links with the UK and the tripartite relationship the government has developed with labour and employer groups.

Ms Smith gave special emphasis to Bermuda's emerging new relationship with the UK, noting that 'even the UK government has recognised the need to forge new partnerships out of its traditional colonial relationships'.

Apart from the local benefits in areas such as constitutional modernisation, citizenship, good governance, and human rights, Ms Smith also pointed out the value of the new relationship with the UK in the wider international context. 'This new partnership and its focus on the environment and financial standards, has helped us to deal with issues as diverse as the OECD and EU initiatives against harmful tax jurisdictions, and to attend international meetings of interest to Bermuda', Ms Smith said.

In closing her speech, Ms Smith said 'We shall continue to work in partnership with everyone to provide an economic climate that encourages stable levels of growth and employment, a vibrant and thriving tourism industry, a healthy and competitive retail sector and a robust and innovative local business arena.'

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