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Wednesday, September 20, 2023

The Listed Entities that Offer Securities Trading/Brokerage Services and/or Digital Asset Exchange Services in The Bahamas are Not Authorized or Regulated by the Securities Commission of The Bahamas



No. 3 of 2023
28 August 2023

The Commission hereby advises the public that none of these entities or their agents/representatives are registered with/licensed by the Commission.  Additionally, none of the listed entities have applied to be registered/licensed by the Commission.  Therefore, any registrable/licensable activity conducted, in or from within The Bahamas, by these entities and their agents/representatives is in violation of one or more of the Acts.






























Thursday, September 7, 2023

Renewable Energy is the Key to Securing Humanity’s Survival

Without renewables, there can be no future...

5 ways to power the energy transition

From UN News

The transformation of energy systems to renewable energy
Renewable technologies like wind and solar power are, in most cases, cheaper than the fossil fuels that are driving climate change, but the world needs to prioritize the transformation of energy systems to renewable energy.

The Climate Ambition Summit, scheduled for 20 September at UN Headquarters in New York, will consider how to accelerate this transformation.

Here are five ways that acceleration could happen:

1. Shift energy subsidies from fossil fuels to renewable energy

Fossil fuel subsidies are one of the biggest financial barriers hampering the world’s shift to renewable energy.

The UN Secretary-General has consistently called for an end to all international public and private funding of fossil fuels, one of the major contributors to global warming, calling any new investments in them “delusional”.

“All actors must come together to accelerate a just and equitable transition from fossil fuels to renewables, as we stop oil and gas expansion and funding and licensing for new coal, oil, and gas,” he said.

The International Monetary Fund (IMF) revealed that $5.9 trillion was spent on subsidizing the fossil fuel industry in 2020 alone.  This figure includes subsidies, tax breaks, and health and environmental damages that were not priced into the initial cost of fossil fuels. 

That’s roughly $11 billion a day.

Shifting subsidies from fossil fuels to renewable energy leads to a reduction in their use and also contributes to sustainable economic growth, job creation, better public health, and more equality, particularly for the poorest and most vulnerable communities around the world.

2. Triple investments in renewables

An estimated $4 trillion a year needs to be invested in renewable energy until 2030 in order to reach net-zero emissions by 2050.  Net zero is the term which describes achieving the balance between carbon emitted into the atmosphere and the carbon removed from it.

Investment in renewables will cost significantly less compared to subsidizing fossil fuels.  The reduction of pollution and climate impact alone could save the world up to $4.2 trillion per year by 2030.

The funding is there, but commitment and accountability are needed, particularly from global financial systems.  This includes multilateral development banks and other financial institutions, which must align their lending portfolios towards accelerating the renewable energy transition.

“Renewables are the only path to real energy security, stable power prices and sustainable employment opportunities,” the UN chief said.

He has further urged “all governments to prepare energy transition plans” and encouraged “CEOs of all oil and gas companies to be part of the solution”.

3. Make renewable energy technology a global public good

For renewable energy technology to be a global public good, meaning available to all and not just to the wealthy, efforts must aim to dismantle roadblocks to knowledge-sharing and the transfer of technology, including intellectual property rights barriers.

Essential technologies such as battery storage systems allow energy from renewables to be stored and released when people, communities, and businesses need power.

When paired with renewable generators, battery storage technologies can provide both reliable and cheaper electricity to isolated grids and off-grid communities in remote locations, for example, in IndiaTanzania, and Vanuatu.

4. Improve global access to components and raw materials

A robust supply of renewable energy components and raw materials is a game changer.  More widespread access to all the key components and materials is needed, from the minerals required for building wind turbines and electricity networks to elements for producing electric vehicles.

The UN’s International Seabed Authority is currently working with its Member States on how to exploit such abundant mineral resources in international waters as those crucial for manufacturing batteries while ensuring the effective protection of the marine environment from harmful effects that may arise from deep-seabed-related activities.

It will take significant international coordination to expand and diversify manufacturing capacity globally.  Greater investments are needed, including in people’s skills training, research and innovation, and incentives to build supply chains through sustainable practices that protect ecosystems.

5. Level the playing field for renewable energy technologies

While global cooperation and coordination is critical, domestic policy frameworks must urgently be reformed to streamline and fast-track renewable energy projects and catalyse private sector investments.

Technology, capacity, and funds for renewable energy transition exist, but policies and processes must be introduced to reduce market risks to both enable and incentivise investment, while simultaneously preventing bottlenecks and red tape.

Nationally determined contributions, or countries’ individual action plans to cut emissions and adapt to climate impacts, must set renewable energy targets that align with the goal of limiting the increase in global temperatures to 1.5°C (2.7°F) above pre-industrial levels.

To achieve this, it is estimated that the share of renewables in global electricity generation must grow from 29 per cent today to 60 per cent by 2030.


Sunday, August 20, 2023

A Tribute to Lady Jacqueline Rosalie Fawkes - Wife of Bahamian Hero, Sir Randol Fawkes

A Tribute to My Mother, 

Lady Jacqueline Rosalie Fawkes, M.B.A. 

A Vessel of Honour

Lady Jacqueline Rosalie Fawkes

By Francis Fawkes

My first recollection of my mother was at Fort Fincastle, where we resided in the mid-1950's.  I remember her as being very dutiful and motherly towards us.  Later,  we moved to McPherson Street,  where most of our early development took place.  She made sure that we were introduced to the Christian principles early by sending us to St. Agnes' Sunday school and  church.  We also attended good educational institutions with her guidance and direction.  To this end,  she played a substantial role in our educational, artistic and spiritual development.  Most of all she possessed a sterling character as a moralist, which enabled her to teach by example.

During the turbulent times,  in the transition of the country to majority rule,  she played an essential part.  Mom worked well as a silent team partner with my father in the  political arena and in his legal career.  Temperamentally both parents were different.  My father was an extreme extrovert.  She was more of an ambivert and somewhat introspective.  She played a complimentary part as a stabilizing influence.  He  was an idealist - and sometimes could be over-idealistic.  My mother in contrast,  was a pragmatist keeping him firmly grounded.  She dealt with his finances and assisted him as a competent paralegal in the office.  He may not have been able to make those monumental contributions to the nation without her able assistance in the practical realm.

Mom also exhibited an artistic flair.  She was interested in architecture and pursued a number of magazines with an architect in designing her rental units and the YWCA Hostel.  As a student of E. Clement Bethel and Meta Davis-Cumberbatch, she substituted me in her place.  Because of it, I was able to make great strides in the graded Associated Board examinations.  Mom motivated and pushed me into qualifying and receiving my credentials from London's Royal Academy of Music.  Because of her, I was able to make notable contributions to the nation according to my calling.

As an astute and gifted businesswoman, she facilitated many of the breakthroughs my father and I experienced.  Later on she matriculated at the University of Miami where she obtained her Masters' Degree in Business Administration.  With her skill, she built up the YWCA hostel which was a great financial success.  In her business pursuits,  she often invited me to perform in fund-raising activities.  One could see her organizational skills in the well orchestrated cultural and national events.  I remember performing for a number of those occasions.

One of my most memorable moments was my major piano recital for the Quincentennial Celebrations in 1992.  Her  shrewd business acumen helped me to get a good size audience.  Following  this were impressive newspaper  reviews.

She loved classical music and up to the end and into advanced age she listened with great delight to me playing Bach, Mozart,  Schubert, Chopin and Liszt at “La Campanella.”  Throughout her life - she saw the result of her efforts when my television recitals and other performances were aired.  However, I am happy to say that coming towards her final days the music helped to ameliorate the  pain and stress to great degree.

In my early years, Mom always insisted that I pray and put great emphasis on Bible reading.  Her Christian worldview was basically that of a fundamentalist.  She was never disposed to humanism or liberal-mindedness often seen in secular universities.  In my student days in London, I am grateful that she insisted on this practice.  My obedience was rewarded.  The knowledge gained enabled me to become highly credentialed in Theology and Christian Counseling.  Later on, I was ordained in my calling as an anointed Minister of the Gospel.

I also assisted her as much as I could with her dietary and medical requirements.  As a strong believer in the Lord we often prayed.  Her faith for salvation was utmost and never seemed to waiver.  She wanted to live as long as she could.  However, she is blessed to have lived this long,  and accomplished so much.  She will definitely be missed by all of the family members, friends and those she impacted.  Her legacy will long be remembered.

Lady Jacqueline Fawkes Obituary>>>

Lady Jacqueline Rosalie Fawkes and Francis Fawkes

Home To Francis Fawkes>>>

Wednesday, July 19, 2023

Fentanyl Deaths in The Bahamas

Sounding the alarm on fentanyl

Allen warns that dangerous opioid is here

By Candia Dames is the executive editor of The Nassau Guardian

Illegal Opioids are in The Bahamas
Fentanyl, the powerful synthetic opioid, is seldom, if ever, spoken about publicly in The Bahamas.

Now, Dr. David Allen, the renowned Bahamian psychiatrist who headed the Taskforce Against Drugs in the 1980s when the crack cocaine epidemic brought The Bahamas to near ruin, is joining forces with mothers who have lost children to fentanyl to sound the alarm ahead of what he fears could eventually become a wave of fentanyl deaths.

As Allen repeatedly put it, “Being aware of it is life; unawareness is death.”

Allen has documented eight deaths in The Bahamas through his sources, including those in law enforcement and the families who have lost loved ones to the drug, which comes in various forms, among them powder, liquid and pill.

“What worries me now is this fentanyl thing, which is 100 times stronger than heroine and cocaine,” he said.

“You can chew it in gum, you can take it in powder form, you can take it in liquid form in your drink, so it potentiates or makes powerful any drug, whether it be Tylenol, Aspirin, Xanax, your anti-depressants, but even your Percocet, or Vicodin or Hydrocodone, Valium, anything, and the sad thing is it goes right for the respiratory center, slows your breath down.

“If you don’t get an antidote, which is Narcan, within a few minutes, you die.  To my surprise, I’ve come across some Bahamians who died in the States, and as I look here, I know it’s here.”

Inspector Cyprian Collie, who is attached to Scientific Support Services (forensics lab) of the Royal Bahamas Police Force, said in terms of the number of cases confirmed in The Bahamas, “it’s roughly over a seven-year period and we have had six cases – two nationals and four non nationals”.

Collie said, “We are not at a crisis.  We want to be abundantly clear because we don’t want to raise hysteria, but the concern is, what I hope we can emphasize, unlike other drugs, we don’t have the luxury of going through the crisis and being able to respond once it’s already here.

“We know it’s here, but because it’s so dangerous because it’s so lethal, if there is an incident or we do have a crisis, people just [will] die, so there won’t be any treatment and that sort of thing because that’s the nature of the drug, so that is our fear.”

While Collie said six confirmed fentanyl deaths in seven years is not an epidemic in The Bahamas, Allen said to his knowledge, local hospitals are not testing for fentanyl.  He fears the actual death count could be notably higher. 

“The police tell me their testing for fentanyl happens in a forensics way, but I need that testing to be done (in hospital),” he said.

“Anyone coming to the hospital knocked out should be tested for fentanyl.  We had a massive 100,000 people dying in America last year.”

Collie said there have been cases in The Bahamas that have been labeled natural causes but fentanyl was involved.

He did not call any names, but one such case in The Bahamas was that of Andre Thompson, a 28-year-old man who died last August.  His death certificate showed he died of cardiac arrest.  A toxicology report confirmed fentanyl.

“About two and a half to three years ago, the first time I heard the word fentanyl, I was watching a movie,” his devastated mother, Andrea Johnson-Thompson, told The Nassau Guardian.

“I don’t remember the name of the movie and fentanyl was the main theme of the movie.  The Lord showed me in my spirit a huge wave and he said fentanyl is coming and I never imagined.  I never would have imagined.  I never in a million years would have imagined that I would lose my son.”

Allen said he has heard that fentanyl is passing around at some local clubs, and Collie confirmed The Bahamas now has a pill culture.

A fact sheet made available by Allen’s office (with information from the websites of the Centers for Disease Control and Prevention and UC Davis Health) notes that fentanyl is a synthetic opioid made in a lab and is 50 to 100 times more powerful than morphine.

It is approved to treat severe pain, typically acute traumatic pain and advanced cancer pain, according to the CDC.  Fentanyl is widely used in emergency departments and hospitals.  It can also be prescribed.  However, the recent fentanyl-related deaths are linked to illegally made drugs.

Fentanyl has also been found mixed with other drugs, including heroin, counterfeit pills, methamphetamine (meth) and cocaine, or even replacing them entirely.

The fact sheet continues: Due to its potency, a relatively small amount of fentanyl can be deadly.  Just two milligrams can cause overdose or death.  It is very powerful and can be addictive.  Fentanyl cannot be smelled or tasted, making it nearly impossible to tell if drugs contain or have been laced with the opioid without special fentanyl test strips.  It is possible that six out of every 10 pills with fentanyl contain a potentially lethal dose.

According to the Drug Enforcement Administration (DEA) of the United States, illicit fentanyl, primarily manufactured in foreign clandestine labs and smuggled into the United States through Mexico, is being distributed across the US and sold on the illegal drug market.

The DEA noted drug trafficking organizations typically distribute fentanyl by the kilogram.  One kilogram of fentanyl has the potential to kill 500,000 people.

The DEA seized more than 50.6 million fake pills in 2022 and more than 10,000 pounds of fentanyl.  Fake prescription pills are easily accessible and often sold on social media, e.g. Snapchat and e-commerce platforms.

Collie said, “Quite frankly, especially in our drug culture, we don’t generally see a lot of persons who abuse opioid-type drugs in The Bahamas, so we’ve not had, for example, a heroin crisis.

“There are reasons for that, probably because people don’t like needles, but we don’t have people abusing opioids.  I say that to say we don’t have persons who have developed any sort of tolerance to opioid type drugs, so in the event there is any type fentanyl, any type pill, it’s accidental or incidental, you’re going to have persons who just die.”

Grappling with tragedy

Johnson-Thompson, who has four other sons, is living with the reality that she will never see her son again.

Andre Thompson, affectionately known by his family and other loved ones as Dre, died in his apartment just next door to her home.

She recalled the shock and horror of the moment she was alerted he was dead.

“I didn’t know what to think,” said a tearful Johnson-Thompson.

“My son lay there lifeless.  I didn’t know, I thought he would get up.  He was laying there, but I was telling him to get up.  I didn’t know why he was still.  I was rubbing his chest and telling him to breathe.  I said, ‘Dre, you’re not breathing, you’re not breathing’.  I was screaming.  So I didn’t know why he wasn’t getting up.  I didn’t know what happened.  I didn’t know why he wasn’t getting up.

“The death certificate said my son died of a heart attack.  He had no known illness.  My son never even accepted a Panadol from me if he had a headache or when he got his braces.  I marvelled at that.  He would just say, ‘Mommy, I’ll ride it out.”

Johnson-Thompson is appealing to parents to educate themselves and their children on the dangers of fentanyl.

She spent her son’s 29th birthday earlier this year in the cemetery.

“I am a mother who had to say farewell to my first born son,” Johnson-Thompson said.

“I am first and foremost a child of God, a woman of God.  I’m the Lord’s servant and I raised my son very well.  I raised him to know the Lord, to love God, to do his best, to serve the Lord.  And for my son to die from ingesting a poison like fentanyl, all I can say is, we don’t know as mothers why our children make some decisions they make.

“A very real factor is fake friends, undercover agents of Satan in their lives who would make things available to them that they wouldn’t normally seek out and mothers especially of adult children who don’t live home under the same roof.

“On any given day, we don’t know the challenges our adult children face, how strong they have to be to say no.  How they may be manipulated and lied to and how dangerous it is to have the wrong people to give access to your life; and obviously, my son paid the price of his life for it.

“He’s not here today because he accepted poison from someone he knew.

“My son Dre is not here today.  My heart is shattered.  His four younger brothers, their hearts are shattered.  We are trying to cope minute by minute.  I can’t even say day by day because it is a minute by minute journey and it’s extremely difficult and it’s nothing but the grace of God that has kept us so far, and that will keep us as we try to grapple with the fact that Dre is not here.”

Allen hopes the message will get out far and wide across The Bahamas so other mothers, fathers, families, do not have to experience the grief Johnson-Thompson and other parents are living. 

At almost 80, Allen said he expects the fight against opioids in The Bahamas to be his last dance, career wise.

“It’s very, very, serious; this could wipe our country out very quickly because last year in the States, they had over 100,000 deaths and the sad thing is, the young people, they don’t want to die,” he said.

“They may want to have a nice time.  It’s the highest high known to us, so we know when they get Narcanized, they go right back to get another hit and then when I heard about deaths of Bahamians in the States, and deaths here, I realized that now is the time to start the awareness; so I feel I’m right back in the 80s when I picked up the crack epidemic in my little house, Knowles House.

“In 1982, I had 32 cases; ‘83, 59 cases; ‘84, 560 cases.  That exponential increase indicated an epidemic.  I was not successful politically initially, but I found mothers who had lost a child and those mothers, their groaning from the womb taught me that I had to go public.”


Allen said he is working with pharmacies to get Narcan Naloxone – the antidote – in The Bahamas in spray form.

“I’m trying to get it here.  We have injectable Naloxone here, but I’m trying to get the spray.  I’ve tried two pharmacies.  One pharmacy has got it ordered for me, but it’s a little expensive, but I feel that every policeman should have the Narcan.  Some school teachers should have it, but all our emergency services, doctors offices should have the spray,” he said.

“And as it gets worse, every parent should have it.  I feel that for a small little country, it’s so dangerous for us not to be aware of this situation.”

Collie said while there is currently not a crisis, first responders should be armed with Narcan spray, as they are in the United States.

“As far as I am aware, we don’t have any of that in The Bahamas, so that’s something that I know the commissioner is interested in providing for first responders and police officers,” he said.

“It’s not terribly expensive.  As I said, we don’t currently have a crisis, but it’s better to be prepared.”

Collie said none of the confirmed victims in The Bahamas was found alive and had a chance in hospital.

“We do need our first respondents to have the tool to combat a potential overdose,” he said, however.

Allen said he appreciates the fact that the police and impacted parents like Johnson-Thompson are willing to work to raise awareness.

“It’s not a time for panic,” he said.

“It’s a time for awareness.  I’m not a policeman, but I am saying, please, Bahamians, we can get on top of this.”


Monday, June 26, 2023

Prigozhin belongs to Putin

Putin made Prigozhin


By Professor Gilbert Morris

Prigozhin and Putin
Russians have short memories, but centuries long resentments: this is driven by survivalist rather than civilisational ethics!
Few, if any in the West understand this; as the West presumes it’s driven by civilisational priorities…a presumption - and pretence - which leads the West into hypocrisies!
Professor G.J.A. Pocock explained this Western presumption in American terms in his classic work: “The Machiavellian Moment”. There image argued that the American West spoke the language of virtuous republics, but operation in Machiavellian terms.
In the case of Russia, there is no hypocrisy: the survivalist mode is totally, unapologetically Machiavellian!
In Russia - it is said - “everything is possible because nothing is real”. Read Lermontov's classic 19th century novel “A Hero Of Our Time”about the deliberate process of restaging reality by authorities, inducing paranoia as an instrument of rule. Stalin used to disappear for a few weeks and allow traitors to emerge. He would then return and purge. The effect was no one knew whether his apparent weakness was real. Putin allows conflict and takes the role of referee. But then 3 months later some participants are arrested and they plead that Putin was there when they said all they said. The answer in Bahamian terms would be: “Yeah, yah talk wrote cheque yah ass cyan cash”!

Vladimir Putin has cultivated a political model in Russia that may be called a “vertical of power”. That means every institution, corporation, resource and process is locked into a power source that emanates from Putin himself in Czarist fashion.

Westerners who think themselves virtuous or morally superior will notice that Western politics have lusted after this power vertical since its inception. This is what Woodrow Wilson warned about in 1918; what Maj.Gen Smedley Butler warned of in his book: “War is a Racket”; Eisenhower warned of as the “military-industrial-complex” and what President John F. Kennedy warned of as “Secret Societies”.

For instance, those who think enslavement was about race have been deceived, perhaps given today’s narratives, unimpeachably so: the operation of power verticals are the most consistent power relations in the history of humankind and race=>racism was/is a mere evangelical tool used to exercise complete power over a groups - to enjoy the fruit of such power - with impunity! (Read Jean Paul-Sartre’s “The Anti-Semite and the Jew”.

Russia, since the 10th Century at its origins - never needed race. Raw power was always an acceptable exhibition of ‘legitimate’ authority in the shape-shifting geography of its power relations.

Challenge-take-attack-defeat-death or survive by submission and attack again. These are the turnstiles of power games in Russian history. Putin said once:
“there are no friends. There are enemies and traitors. Enemies are monitored and punished. Death to traitors”.

In this light recent events in Russia are true to form and Western media falling over themselves with joy fail to grasp that Prigozhin belongs to Putin. Prigozhin is Russian!

Putin made him. Their spat is both an emotional outburst from a bad day at the office and a gear-shift-snag in the power vertical governing Russia; one does not exist without the other.

In Russia, these men engage in the fullest panoply of their emotional range; including rage and cruelty. Tomorrow, they would break bread and cry singing Russian songs, after bathing in a frozen river and lunching on raw meat. And yet, they’ll weep at the Bolshoi at the Ballet “Maat” or listening to Tchaikovsky or Rachmaninov!

The Russian is both more sensitive with an elegant soul born in and of tragedy - and more blood thirsty Neanderthal than we may imagine commonly!

Western media blatherings about the “coup” attempt by Prigozhin’s Wagner forces are a bold reveal of the West’s utter ignorance of other cultures, of defining others by hypocritical standards and sheer lack of educated perspectives.

It is something to note however, that $6billion (more than the GDP of Barbados) goes missing from US transfers to Ukraine three weeks ago, US congressional leaders are “briefed“ on a possible coup attempt after the miserable failure of Ukraine’s counteroffensive…then there is a half-baked takeover of a regional city, Rostov…then an ignominious retreat by Prigozhin!

Things had been boiling over for at least 11 months between Prigozhin and Russian Defence Ministry. Prigozhin’s coup was against the Ministry, by his own words, not Putin or the Russian state. Planning started 8 months prior as they were smashing Ukraine as explained by GRU's (Russian Military Intelligence) 2nd and 15th Brigades under Utkin and Wagner's former Russian spetsnaz mercenaries spearheading the operations.

Now Prigozhin has retreated ostensibly to Belarus (nearer to Kiev), and…may…have…kept…control…of…the: Voronezh-45 Nuclear Storage Facility.

What does it all mean?

I named this a proxy war at its beginning when foolish irrationalist in the literalist fevers thought otherwise. But let’s with hindsight admit what is necessary to gain scope: this is not a war between Russia and Ukraine.

This is a quasi-world war between NATO and Russia!

That understand of the belligerents gives appropriate scale from which arises the questions:

1. Will Prigozhin’s Wagner group continue its dominant assault on NATO through Ukraine?

2. Does Prigozhin hold Voronezh-45 nuclear storage facility as an insurance policy against long Russian resentment?

(He is also wanted in the US for 2016 election interference).

3. If both the above are true - and they could be - does Prigozhin use tactual nukes against NATO through Ukraine…giving Putin plausible deniability?

4. Was it all planned?

5. Putin knew about Prigozhin’s rants and plans beforehand. Why let them come into play? Was it to reveal who would side with him! Was it to humiliate the defence ministry then purge them?

What is certain: Prigozhin has now only two ways to die: by Putin or not by Putin!

The master diplomatic envoy does not get caught up in the euphoria of things... barking childish ideologies or evangelising potential favoured outcomes.

He reads the tea leaves, he doesn’t drink the tea! He isn’t moved by speechs and convenient comparisons of false virtue!

Instead, he seeks the coordinates of and for survival, which leads to confraternities amongst apparent nemesis, and traces the alignments benefits as indicators of potential outcomes, no matter his preferences!

Cold as ice and twice as hot!

Saturday, May 27, 2023

The Bahamas National Trade Policy Instituted

With the launch of the National Trade Policy, The Bahamas now has a comprehensive framework for trade that the government intends to use to lower the trade deficit by empowering more local businesses to tap into export markets.

Launch of The Bahamas National Trade Policy
Speaking at a press conference held on Thursday, 25 May, 2023 to announce the launch of the nation’s first-ever National Trade Policy, Bahamas Trade Commission Chairman, Philip Galanis, said that trade is expected to play a big role in the Bahamian economy as the nation continues its post-pandemic recovery.

“Prior to the pandemic, the export of services, particularly tourism related services, served as a counterbalance to our food and goods trade deficit.  However, moving forward we are seeking to expand existing areas of strength and diversify into new areas to create new trade opportunities for local businesses and more resilient national economy.”

With the launch of the National Trade Policy, Chairman Galanis indicated that country finally has a coherent approach to the development of trade in alignment with wider national development plans.  He stated that the policy is “comprehensive and with broad impacts on the Bahamian economy.”

“This Policy speaks to more effective management of imports through reviewing our tariff structure, the need for competition laws, domestic preferences, and improved incentive schemes.  It addresses how we will expand existing exports through our trade promotion efforts and development programmes, a full review of the existing tax regime, the embracing of digital technology, and the development of free trade zones.”

“Through this Policy, The Bahamas will diversify its exports in target areas within the blue, green, and orange economies, while strengthening our domestic competitiveness through the creation of more service-oriented, faster processes combined with greater education and support for local businesses.”

Chairman Galanis credited the extensive consultation process done over the past two years with local businesses, trade experts, and other stakeholders for the comprehensiveness of the Policy.

“We have held numerous formal and informal sessions with local businesses of all sizes and in all relevant industries, securing vital stakeholder input that played a big role in the crafting of the policy.  The document we have today reflects that input, as well as the inclusion of input from top local and international experts.  As a result, we have developed a trade framework that addresses local needs and is responsive to global demand.”

Moving forward, Mr. Galanis encouraged all local businesses who are interested in participating in international trade or expanding the extent of their trade activity to reach out to the Trade Commission to learn more about the Policy and upcoming opportunities for enrichment.

He also welcomed all industry stakeholders to continue to work collaboratively with the government as the policy is rolled out, so that all initiatives continue to reflect the needs and input of Bahamian businesses.

“Most trade is conducted by businesses, not the Government, and affects the lives of the Bahamian people, so it will take the joint efforts of both the Government, as well as the private sector, to truly encourage economic diversification in the country.  I encourage you all to take an interest in trade and to learn more about the importance of trade to helping us building a stronger economy.”

Those who wish to learn more about the National Trade Policy can download a copy of the policy at