{"id":6015,"date":"2018-11-15T15:09:35","date_gmt":"2018-11-15T15:09:35","guid":{"rendered":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/?p=6015"},"modified":"2018-11-21T15:29:27","modified_gmt":"2018-11-21T15:29:27","slug":"bahamas-wto-membership-is-no-fait-accompli","status":"publish","type":"post","link":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/2018\/11\/15\/bahamas-wto-membership-is-no-fait-accompli\/","title":{"rendered":"Bahamas’ WTO Membership Is ‘No Fait Accompli’"},"content":{"rendered":"

Negotiations will produce the best outcomes for The Bahamas<\/h3>\n
\"Zhivago

Mr. Zhivargo Laing: The Bahamas’ Chief World Trade Organisation (WTO) Negotiator <\/strong><\/p><\/div>\n

The Government’s chief World Trade Organisation (WTO) negotiator yesterday said The Bahamas’ accession was no “fait accompli”, telling accountants: “I’m not tied to any outcome.”<\/p>\n

Zhivargo Laing, the former Cabinet Minister, told attendees at the Bahamas Institute of Chartered Accountants (BICA) conference: “It’s either the case that this works to the benefit of The Bahamas or we decide that we don’t do it; it doesn’t make sense. Why should we do any reform that does not enure to the benefit of this economy?<\/p>\n

“It makes no sense just to belong. Belonging should have benefits. That is the job of negotiation; to ensure that whatever we negotiate has meaningful benefit to The Bahamas. That’s my mindset. I’m not tied to any outcome. I am tied to ensuring the best negotiations to produce the best outcomes for The Bahamas.”<\/p>\n

Businesses will have a three\u00a0to five-year adjustment period<\/h3>\n

Mr. Laing described this nation’s decision to accede to full WTO membership as one of the “‘most strategic the Government has ever made”.<\/p>\n

“Almost every other decision made was because we were asked or forced to do something,” he said. “We started this in 2001. The average journey is nine years.”<\/p>\n

The Minnis Cabinet is pushing for The Bahamas to become a full World Trade Organisation (WTO) member by 2019, with the Government set to lose $40m in revenue by eliminating or reducing import tariffs under its present offers.<\/p>\n

“I believe we should scrutinise this whole process, get as much information as we can and hold all of us accountable in this process. I am absolutely committed to going to Geneva to negotiate agreed positions, meaning that we have all agreed where the red line is we will not cross,” said Mr. Laing.<\/p>\n

He added that once The Bahamas joins the WTO, local industries will have at least a three to five-year adjustment period. The WTO has provisions to allow local businesses to make the necessary price adjustments.<\/p>\n

Source: The Tribune<\/em><\/p>\n

Click here<\/a> for more information on the WTO and the nation’s accession process.<\/p>\n","protected":false},"excerpt":{"rendered":"

Negotiations will produce the best outcomes for The Bahamas The Government’s chief World Trade Organisation (WTO) negotiator yesterday said The Bahamas’ accession was no “fait accompli”, telling accountants: “I’m not tied to any outcome.” Zhivargo Laing, the former Cabinet Minister, told attendees at the Bahamas Institute of Chartered Accountants (BICA) conference: “It’s either the case […]<\/p>\n","protected":false},"author":16,"featured_media":5962,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-6015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nBahamas' WTO Membership Is 'No Fait Accompli' - 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