Cautioning the government to proceed with care before making a decision on the CARICOM Single Market and Economy (CSME) or the liquefied natural gas (LNG) projects proposed for the country, Progressive Liberal Party Member of Parliament John Carey made his contribution to the 2005/2006 budget debate on Thursday.
Expressing skepticism about whether the CSME will in fact provide benefits for The Bahamas, Mr. Carey said the country has special concerns given its proximity to the United States of America and its geographical composition as an archipelagic nation.
“The enhanced international competitiveness brought about by regional integration should ultimately build confidence and prepare countries significantly for future advances in the unilateral and multilateral setting,” Mr. Carey said. He added, “I am emphasising the word should.”
Highlighting concerns expressed by members of his constituency and “Bahamians in general”, Mr. Carey challenged his colleagues in the government to ensure that there will be full implementation and effective enforcement of any agreement, and that ultimately the agreement must be to the benefit of the Bahamian people.
The Carmichael MP also called on the government to take steps to develop a formula to prevent liberalisation of sensitive domestic sectors.
“We must promote the development of modern trade disciplines to ensure that Bahamians are considered first in line for training opportunities and job opportunities. We must support the private sector and entrepreneurship development in trade and investment practices, especially small and medium-sized businesses, and we must promote the training of the public sector, particularly customs officers, immigration officers, police and defence force officers,” Mr. Carey added.
Using his contribution as a platform to urge broad consultation on the CSME, Mr. Carey recounted that the PLP administration came to power by affirming its commitment to a consultative form of government.
He also urged greater dissemination of information about the proposed arrangement to the public.
“The education of the Bahamian population is vital given what lies ahead. We are all in a precarious position,” Mr. Carey said.
“However, I call upon all of us who make up the government to tread carefully and make decisions that reflect what is best for our people in years to come.”
Mr. Carey, an environmental engineer by training, also used his budget debate contribution to address some concerns relating to the liquefied natural gas projects which are currently being considered by the government.
“I must caution those involved that in the negotiation process we ought to be satisfied that the regulatory framework is in place and the trained cadre of government specialists are fully engaged at all stages as we move forward with the natural gas industry,” the Carmichael MP said.
He added, “Failing to do this will put all Bahamians in harm’s way.”
While acknowledging the importance of foreign direct investment to the Bahamian economy, Mr. Carey also called for more domestic investment by Bahamians.
This, he said, could facilitate local entrepreneurs in producing items such as conch shell jewelry, soaps and candles, straw bags, candies, tropical drinks, and T-shirts.
According to Mr. Carey, boosting the level of investment by Bahamians could also help to diversify the economy, increase Bahamian exports, and replace the import of certain items with locally produced goods.
Just last week, the government officially launched a Venture Capital Fund to assist entrepreneurs in securing start-up capital for their businesses.
The fund was established with a $2 million allocation from the government.
By: Darrin Culmer, The Bahama Journal
