Hundreds of millions of dollars in opportunities could be at stake if the Bahamian private sector does not get involved in the government’s ongoing trade agreement negotiations with Canada, charged trade economist Hank Ferguson.
According to him, updates from the government on what exactly will be offered to Canada in a new reciprocal trade agreement have so far not been provided. It could be a worrisome trend, given the decisions made at that level will affect many businesses now operating under strained conditions.
“What has to happen is The Bahamas has to identify what our needs are and what sectors we want to develop,” Ferguson told Guardian Business yesterday. “I think what is necessary now is for the private sector to start paying greater attention to what opportunities are there. But the government has not made the private sector aware of what they’re trying to get out of the negotiations [and] that is problematic.