NASSAU, Bahamas, CMC – Prime Minister Phillip Davis, on Friday, said that the country has a clear roadmap to manage trade more strategically and to improve the competitiveness of Bahamian businesses.
“We want to build on our natural strengths in areas such as fisheries, creative industries, natural products, and high-value services, even as we deepen the linkages between tourism and local producers,” Davis told the opening of the Opportunity Hub: Trade + Access to Global Markets.
Davis said that the Opportunity Hub is a single point of access for the many initiatives developed across different ministries and agencies, including Upskill Bahamas, the National Apprenticeship Program, the National Youth Guard, as well as grants, financing, mentoring, and access to expertise.
He told the ceremony that as far back as 2022, his administration had put forward for public consultation a comprehensive National Trade Policy as it sought to make trade an early priority “to grow our economy, to reduce our dependence on imports, to create more Bahamian success stories, and to situate trade within our larger plan for national development.
Davis said that with a changing global environment, “there is great potential for small countries like ours, although of course, along with everyone else, we are also navigating significant uncertainties.
“What I believe…is that we should never set our sights low. I know that we can thrive, and not just survive, in these changing times. We led an economic recovery that created thousands of new jobs; now we need to create thousands more, and good ones, so people can do more than get by.”
Davis said there is also a need for more Bahamian innovators and entrepreneurs, and that the government is working to create the conditions that foster economic success.
“Our energy reforms and our infrastructure investments are nationwide efforts, unprecedented in scale. And of course, we are investing in our people, because preparing Bahamians for emerging opportunities is the best way to build a bigger, more inclusive economy.”
Of course, trade and diplomacy are also important tools in creating new opportunities for Bahamians; that’s how we help Bahamians compete beyond our borders,” he said, adding, “When we expand trade, we create new revenue streams for Bahamian businesses.
“We encourage innovation and competition, and we reduce our dependency on limited markets,” Prime Minister Davis said, adding that the Bahamas Trade Commission, which advises the government on trade policy and connects Bahamian entrepreneurs to global opportunities, is advancing a National Trade Diversification Strategy to identify new regions and sectors for growth.
“Today, we are introducing the Bahamas Trade Commission digital platform, which features a comprehensive Trade Resources Page designed to support Bahamian businesses,” Davis said, noting that the website is a central access point for trade, business, and global opportunity.
“It brings together in one place, financing and funding opportunities, trade missions and international events, import and export guidance, market intelligence and analysis, and practical toolkits for doing business locally and internationally.”
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