The Bahamas is hoping to position itself to benefit from global value chains, by building up logistical infrastructure and trade agreements that would allow for partially manufactured products to be completed in the country, Minister of Financial Services, Trade and Industry and Immigration Elsworth Johnson said yesterday, adding that the introduction of this value-added trade strategy could eventually position trade as the third pillar of the Bahamian economy.
Johnson, who made the remarks during his 2020/2021 budget address in the House of Assembly, said The Bahamas has already adopted a value-added trade strategy and trade agreements that can allow this country market access as a value-added jurisdiction are being already being negotiated.
Source: The Nassau Guardian
Date: Tuesday, June 16, 2020
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