Chamber report on WTO accession to be released on May 7
The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) plans to release its economic study on the effects of accession to the World Trade Organization (WTO) at its Power Breakfast on May 7, BCCEC’s lead on WTO matters Darron Pickstock told Guardian Business yesterday.
Pickstock said the head of quantitative analysis firm Oxford Economics, which developed the report, will be in town to present the report along with several of the consultants who worked on the report.
Pickstock added that BCCEC chose to officially release the report at its Power Breakfast event because it is a forum in which the private sector can ask questions about the information that will be presented.
According to Pickstock, a summary of the Oxford Economics report on The Bahamas will be presented and released to the public on that day, as the entire report is too lengthy.
“The chamber views the whole thing (report) by way of economic development,” he said.
“The report really just states how The Bahamas can grow economically, so the report is broader than that (WTO).”
The government will also get the report on May 7, Pickstock said, adding that it will also be circulated on BCCEC’s website.
While not wanting to give too much away about the report’s content, Pickstock explained that it talks about what the country needs to do from a structural standpoint in order to grow its economy.
“Based on all of the research, we are not faring well from an economic standpoint,” Pickstock said.
“Once its released, we will give greater details as to what the further report is saying.”
BCCEC has remained neutral on the subject of The Bahamas’ accession to the WTO. Pickstock said the Chamber’s focus is on economic growth holistically and not just the effect of the WTO.
Pickstock was recently part of the Bahamian contingent that went to Geneva, Switzerland for the Fourth Meeting of the Working Party on the Accession of The Bahamas to the WTO. He sat in with government officials as they met with Working Party officials.
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