'Outrageous' bank fees slammed
By NEIL HARTNELL
Tribune Business Editor
A FORMER Chamber of Commerce president yesterday blasted Bahamian commercial banks for imposing "astronomical and outrageous" hidden fees that he took four months to pick up on, and urged the Government and regulators to implement greater oversight of an industry he described as "a cartel".
Dionisio D'Aguilar, president of the Superwash laundromat chain, told Tribune Business that he was "outraged" by the 2 per cent 'excess penalty fee' CIBC FirstCaribbean International Bank (Bahamas) had begun imposing on clients who went into overdraft - even for one day a month - and had established no such facilities with the bank.
This fee, Mr D'Aguilar said, was on top of the normal 17 per cent that he as a businessman had to pay on an overdraft, and amounted to an effective annual rate of 730 per cent per year if funds were borrowed for one day. He questioned whether its CIBC parent had such fees in Canada.
Calling for greater government and regulatory oversight of commercial banks, Mr D'Aguilar described the Central Bank of the Bahamas as "useless" when it came to supervising the fees they charged.
He called on the Government to create a new regulatory agency, if necessary, and ensure there was "some sort of approval process" for commercial bank fee increases - focusing on whether they were fair and reasonable.
"The banks, having taken a killing on their bad loans, are implementing outrageous and astronomical fees to try and recoup some of the losses they've incurred on those loans," Mr D'Aguilar charged.
"For example, CIBC FirstCaribbean have decided to impose a 2 per cent fee on a one-day loan. If you happen to go into overdraft, and let's say you go into overdraft for $30,000 for one day, they will charge you $600 for that one day. That equates to an annualised rate of 730 per cent.
"They don't call it interest, and on top of that they charge you the 17 per cent interest they normally charge you for an overdraft if you don't have an overdraft facility fee in place. This is when they impose this fee. Why would you charge such an outrageous fee."
Mr D'Aguilar said that while CIBC FirstCaribbean ultimately reversed the 'excess penalty fees' it had levied on Superwash, totalling $955 during one month, this only happened after he vehemently complained about it.
"I'm a large and reputable customer, and I'm not sure they're doing it for everyone," he added. "I had to complain, and now they're trying to drive me to set up an overdraft facility with them.
"My concern is that I don't know whether they've contacted all their customers about this, and if people know they're being charged these fees. It took me four months to pick this up."
The former Chamber president said that by charging the 2 per cent in the form of a 'fee', and FirstCaribbean applying it in the manner it was, there was no link with the traditional determinants of interest - perceived risk, plus duration and size of the loan.
He explained that if a client without an overdraft fee went into this position for more than one day in a given month, FirstCaribbean would levy the 2 per cent 'excess penalty fee' based on the maximum overdraft amount on the account statement.
"What they do, in the course of a month, is they look at the highest negative balance you have and multiply it by 2 per cent," charged Mr D'Aguilar. "They pick the highest negative number, and multiply it by 2 per cent for the month. I think that's absolutely outrageous."
Mr D'Aguilar said he was charged $955 in 'excess penalty fees' for July as a result of two different accounts going into overdraft for two and three days respectively.
In a letter to FirstCaribbean executives, he wrote: "The excess penalty charge is 2 per cent per day, which equates to an effective annual rate of 730 per cent per year if you borrow money for one day, or 384 per cent per year if you borrow for two days, or 243 per cent per year if you borrow money for three days or 24 per cent per year if your borrow for 30 days. This is, of course, on top of the regular interest rate of 17 per cent that I already have to pay on an overdraft."
Mr D'Aguilar told Tribune Business that Bahamian businesses and consumers were "at the mercy" of the six banks - Royal Bank of Canada, CIBC FirstCaribbean, Fidelity Bank (Bahamas), Commonwealth Bank, Scotiabank and Bank of the Bahamas - who had the ability to operate as "a cartel".
As a result, there was very little option for Bahamian consumers, while changing banks overnight was not an option for many businesses given that they often had existing credit lines and properties mortgaged as collateral with one particular lending institution.
"There should be full disclosure of fees. People should see and view them," Mr D'Aguilar added. "A lot of businesses are not aware of what is going on. I was shocked when I saw $500-$600 of fees for one month.
"The Minister of Finance should focus on this issue, and not allow the banks to do what they want to do."
September 14, 2011
tribune242
A political blog about Bahamian politics in The Bahamas, Bahamian Politicans - and the entire Bahamas political lot. Bahamian Blogger Dennis Dames keeps you updated on the political news and views throughout the islands of The Bahamas without fear or favor. Bahamian Politicians and the Bahamian Political Arena: Updates one Post at a time on Bahamas Politics and Bahamas Politicans; and their local, regional and international policies and perspectives.
Thursday, September 15, 2011
Wednesday, September 14, 2011
The Bahamas has acknowledged that its criminal justice system needs help
Adopting organized crime laws in The Bahamas
The annual drug report prepared by the United States government usually provides interesting commentary on the state of drug trafficking to and through The Bahamas.
In the 2011 report, the U.S. government again made suggestions to the Bahamian government to reform the criminal justice system in this country.
“However, a need still exists to reduce the long delays in resolving extradition requests and other criminal cases as an existing trend of law enforcement successes have been undermined by an overburdened Bahamian legal system,” said the U.S. State Department in the report.
“As mentioned in previous annual reports, we continue to encourage The Bahamas to increase the resources and manpower available to prosecutors, judges, and magistrates.”
The Bahamas has acknowledged that its criminal justice system needs help. The government has set in motion a series of reforms aimed at reducing the backlog of cases before the court and speeding up the rate of prosecution in the country.
The U.S. made another suggestion in the report that should be considered.
The State Department noted that the country lacks legislation criminalizing participation in an organized criminal group.
The Racketeer Influenced and Corrupt Organizations Act (RICO Act) is a U.S. federal law that provides for long criminal sentences and civil penalties for actions performed as part of an ongoing criminal organization.
Simply put, those proven to be involved with an organized crime group are jailed for long terms.
The U.S. government has used these laws effectively against the mafia. In The Bahamas, no such law exists.
According to the drug report, the U.S. Drug Enforcement Administration and Operation Bahamas Turks and Caicos estimate that there are 12 to 15 major drug trafficking organizations operating in The Bahamas.
A RICO law in The Bahamas would provide another tool to local law enforcement to take down some of these drug gangs.
However, local police and prosecutors would need to learn to conduct more comprehensive investigations for such a law to work.
Rather than arresting one criminal for one offense, investigators and prosecutors would need to build a case against entire organizations. Evidence would need to be marshaled chronicling the various crimes it commits. The actors in the criminal activity would then need to be defined and linked to the criminal organization.
Comprehensive indictments would follow and large numbers of criminals would be brought to court at the same time.
These investigations could take years. But when done well, they cripple or dismantle entire criminal organizations.
For such a thing to work, The Bahamas would also need to change its overall prosecutorial response to drug trafficking. Traffickers are currently prosecuted in Magistrates Court where the maximum sentence is five years in jail. Some smugglers have been found in possession of millions of dollars worth of cocaine and they have only faced that five-year sentence, or less if they pleaded guilty.
The law needs to prosecute based on weight. Those found in possession of large quantities of drugs should face trial in the Supreme Court where serious penalties can be issued. RICO prosecutions, if adopted, would also take place in the Supreme Court.
Organized crime is a threat to democracy. Those who do not believe this need only look at Mexico. The cartels there are at war with the state. And in some jurisdictions in that country, the cartels are winning the war.
Since Mexican President Felipe Calderon launched his war on the cartels in 2006, more than 30,000 people have been killed in drug-related violence.
The Bahamas must consider legislative tools such as the RICO law in the U.S. to assist in the local fight against narco-trafficking. We cannot just continue to hope that the U.S. requests the extradition of our major drug dealers. We must develop the capacity to lock them up for long periods of time in this country.
Sep 13, 2011
Tuesday, September 13, 2011
The Ministry of Health has confirmed one dengue death... However, doctors are concerned about this figure... Among the medical fraternity the chatter is that there have been at least 30 dengue related deaths
Ban the mosquito from your property
tribune242
GOVERNMENT announced Friday that Pan-American Health Organisation -- PAHO -- personnel have been in the Bahamas for the past two weeks to advise on the control and eventual elimination of the dengue-bearing mosquito.
A PAHO representative also confirmed that in the past few weeks there has been a decline in the number of dengue reported cases.
The Ministry of Health has also confirmed one dengue death. A spokesman said it is now awaiting the results of two other cases before it can say with certainty whether a mosquito bite was the cause.
However, doctors are concerned about these figures. Among the medical fraternity the chatter is that there have been at least 30 dengue related deaths. Many doctors are satisfied that dengue is either the direct cause of these deaths, or the underlying spark that triggered a flare up in a pre-existing illness, resulting in death.
We were told of a recent case of a woman, who was reported to have either died in her doctor's office or become very ill there. She was so ill that resuscitation was necessary. When examined it was discovered that her blood pressure was not only very low, but her platelet count was nearing zero. A normal platelet count is 150 and above. Several doctors are satisfied that dengue caused her death.
Dr Delon Brennen, deputy chief medical officer, said last week that 10 confirmed dengue haemorrhagic fever cases have been reported in the Bahamas. This is by far the most serious strain of the disease and can be fatal. It is accompanied by massive internal bleeding and usually occurs after a person, who has been previously infected by one strain of the virus, is bitten again, becoming infected by another strain. This is serious and can cause death. This is the first time that the Bahamas has had a dengue outbreak of epidemic proportions. However, it is common in other Caribbean countries. Presently there are about 10 Caribbean countries fighting the outbreak.
A couple who lived in Trinidad for a number of years said that twice weekly every year a large truck drove slowly down their road spraying -- they did not know what for, but now presume it was for dengue. A couple of times a year, a crop duster fogged the whole island from the air.
It has been suggested that aerial spraying should be done over the lakes and all the wooded mangrove areas on the western end of New Providence. A Bahamian reported that there is a lot of stagnant water in the Sandyport area that could be a threat to residents.
PAHO also advised government to increase fogging to twice a day.
However, it was the belief of someone from another dengue-plague Caribbean country that spraying is just a psychological band-aid that makes people feel that something is being done. He hadn't much faith in spraying alone, believing the only way to eliminate the mosquito was for every resident in the Bahamas to remove all breeding areas on their property. Bahamians have to take responsibility for their own area and if each person did that the whole island would be clean. For a start all standing water, no matter how small, must be removed. All property has to be regularly maintained to cut down all tall grass, undergrowth and shrubbery. On the Eastern Road yesterday morning -- Sunday, no less, although a government minister declared last week that no one works on Sunday -- several men were hard at work raking up the debris from Hurricane Irene, bagging the leaves and branches, ready for pick-up by garbage collectors.
Derelict vehicles, old car tyres and anything that can collect water has to be removed. Unused swimming pools have to be emptied and any water that collects, for example in tanks, should be treated with chlorine/bleach. Government inspectors will have to make certain that slum areas are cleaned and all water removed.
Education is also important and government has already started a "Fight the Bite" campaign, which will be taken to the schools and into the communities. In other words, Bahamians have to clean up their island if they want to rid themselves of the deadly bite. They have to make certain that no mosquito is multiplying in their yard.
"In the long run," said Dr Robert Lee, health disease adviser, "government has to ensure a continuous water supply to all houses to prevent people from collecting water in their backyards."
Heath Minister Dr Hubert Minnis said that the "Fight the Bite" campaign will "inform people on how they can best assist the government in this fight.
"We cannot do this alone," he said. "We need the public's support. Fogging will only help if people do what they are supposed to around their homes. It only takes seven days for an egg to hatch into a full breeding adult. So we are working along with the Department of Environment, Bahamas Waste and Rotary to pass out leaflets and hold seminars so the public can be best informed on how they can help."
September 12, 2011
tribune242
tribune242
GOVERNMENT announced Friday that Pan-American Health Organisation -- PAHO -- personnel have been in the Bahamas for the past two weeks to advise on the control and eventual elimination of the dengue-bearing mosquito.
A PAHO representative also confirmed that in the past few weeks there has been a decline in the number of dengue reported cases.
The Ministry of Health has also confirmed one dengue death. A spokesman said it is now awaiting the results of two other cases before it can say with certainty whether a mosquito bite was the cause.
However, doctors are concerned about these figures. Among the medical fraternity the chatter is that there have been at least 30 dengue related deaths. Many doctors are satisfied that dengue is either the direct cause of these deaths, or the underlying spark that triggered a flare up in a pre-existing illness, resulting in death.
We were told of a recent case of a woman, who was reported to have either died in her doctor's office or become very ill there. She was so ill that resuscitation was necessary. When examined it was discovered that her blood pressure was not only very low, but her platelet count was nearing zero. A normal platelet count is 150 and above. Several doctors are satisfied that dengue caused her death.
Dr Delon Brennen, deputy chief medical officer, said last week that 10 confirmed dengue haemorrhagic fever cases have been reported in the Bahamas. This is by far the most serious strain of the disease and can be fatal. It is accompanied by massive internal bleeding and usually occurs after a person, who has been previously infected by one strain of the virus, is bitten again, becoming infected by another strain. This is serious and can cause death. This is the first time that the Bahamas has had a dengue outbreak of epidemic proportions. However, it is common in other Caribbean countries. Presently there are about 10 Caribbean countries fighting the outbreak.
A couple who lived in Trinidad for a number of years said that twice weekly every year a large truck drove slowly down their road spraying -- they did not know what for, but now presume it was for dengue. A couple of times a year, a crop duster fogged the whole island from the air.
It has been suggested that aerial spraying should be done over the lakes and all the wooded mangrove areas on the western end of New Providence. A Bahamian reported that there is a lot of stagnant water in the Sandyport area that could be a threat to residents.
PAHO also advised government to increase fogging to twice a day.
However, it was the belief of someone from another dengue-plague Caribbean country that spraying is just a psychological band-aid that makes people feel that something is being done. He hadn't much faith in spraying alone, believing the only way to eliminate the mosquito was for every resident in the Bahamas to remove all breeding areas on their property. Bahamians have to take responsibility for their own area and if each person did that the whole island would be clean. For a start all standing water, no matter how small, must be removed. All property has to be regularly maintained to cut down all tall grass, undergrowth and shrubbery. On the Eastern Road yesterday morning -- Sunday, no less, although a government minister declared last week that no one works on Sunday -- several men were hard at work raking up the debris from Hurricane Irene, bagging the leaves and branches, ready for pick-up by garbage collectors.
Derelict vehicles, old car tyres and anything that can collect water has to be removed. Unused swimming pools have to be emptied and any water that collects, for example in tanks, should be treated with chlorine/bleach. Government inspectors will have to make certain that slum areas are cleaned and all water removed.
Education is also important and government has already started a "Fight the Bite" campaign, which will be taken to the schools and into the communities. In other words, Bahamians have to clean up their island if they want to rid themselves of the deadly bite. They have to make certain that no mosquito is multiplying in their yard.
"In the long run," said Dr Robert Lee, health disease adviser, "government has to ensure a continuous water supply to all houses to prevent people from collecting water in their backyards."
Heath Minister Dr Hubert Minnis said that the "Fight the Bite" campaign will "inform people on how they can best assist the government in this fight.
"We cannot do this alone," he said. "We need the public's support. Fogging will only help if people do what they are supposed to around their homes. It only takes seven days for an egg to hatch into a full breeding adult. So we are working along with the Department of Environment, Bahamas Waste and Rotary to pass out leaflets and hold seminars so the public can be best informed on how they can help."
September 12, 2011
tribune242
Monday, September 12, 2011
The Democratic National Alliance (DNA) good approach to politics
A good approach to politics
The Democratic National Alliance (DNA), or the green party as it is called by some, is hosting yet another town hall meeting Wednesday. This one will be on the topic of education. The party has previously held town hall meetings on crime and immigration.
The new party should keep it up. Town hall meetings are a bit more intellectually involved than Bahamian political rallies. At these meetings there is a topic, the audience is more sober and seated and there is a speaker. The audience then gets to ask questions – not all of which are friendly.
The give and take of the town hall meeting means that politicians have to be prepared for challenges. Rally goers are different as compared to those who would prefer to go to a town hall meeting.
Rallies are glorified parties in The Bahamas these days. A good part of the audience is intoxicated and waiting to be entertained by speakers who provide much noise and little substance. And as those rally speakers deliver their empty lines, loud music is usually played. This makes it clear to those assembled that the main purpose of the event is not to listen, but to have a good time.
The Progressive Liberal Party (PLP) and the Free National Movement (FNM) love rallies. The new party would do well to continue to appeal to the mind. The Bahamas has serious problems.
Our largest private sector employer, Atlantis, is in debt restructuring negotiations in order to avoid default and foreclosure; there will be a fourth homicide record in five years this year; our economy has been weak and unemployment high since the financial crisis of 2008; the roadwork on New Providence is causing serious movement problems; and several islands are recovering from being directly hit by Hurricane Irene.
In this context, we do not need ‘rally talk’. We do not need to hear about who did what to his sweetheart or who is weak and who is strong. We need policy, dialogue and solutions.
At this stage in the history of The Bahamas, we need leaders who are sober and like to think. We do not need dancers or entertainers who are masters at using rally stages to waste the time of the people.
Bahamians should always engage with politicians when they seek to analyze and discuss issues for the purpose of coming up with good policies. We should also ignore the frivolous and the silly. People change dysfunctional culture.
We are nearing the peak of election season in serious times and as a people we must mature politically. By doing so, we will force the parties to organize more sensible fora such as town hall meetings and debates and fewer drunken parties at the forts and public parks.
Sep 12, 2011
Sunday, September 11, 2011
John Delaney - Attorney General says: ...proposed changes to The Bahamas' insolvency laws and procedures were "long overdue"...
INSOLVENCY REFORM 'LONG OVERDUE'
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
ATTORNEY General John Delaney told Tribune Business yesterday that proposed changes to the Bahamas' insolvency laws and procedures were "long overdue", acknowledging that this nation had fallen "a bit behind" on the issue.
Mr Delaney said the revised legislation was still a work in progress, and the Government was still getting feedback on the draft Insolvency Act.
"That's still a work in progress. Hopefully we finalise it over the next month. It will be clear and more reformed, and hopefully it goes to thes consideration of Cabinet," Mr Delaney told Tribune Business while not wanting to go in-depth on the specifics of the proposed legislation until it becomes finalised.
He added: "It's designed to provide modern provisions. Our insolvency regime is very old. We haven't touched ours for more than 50 years. It's long overdue.
"The proposed changes are meant to bring it current with what you would expect in a modern jurisdiction such as ours, which has companies that are used all over the world for all manner of things. People today expect to have a very modern insolvency regime with the kind of provisions that are more universal. Our laws have fallen a bit behind. Our laws go back many decades. It's still a work in progress. Right now its just being molded in certain regards."
Mr Delaney said the draft has been circulated among accountants, attorneys and the private sector since earlier in the year.
"It has been circulated industry-wide since the first part of this year," the Attorney General added.
"I have specifically asked for the accountants now to weigh in directly, even though they would have they would have gotten it through the industry.
"But because the accountants tend to play such an important role in relation to the administration of companies when they are being wound up, I had specifically asked them to meet with me and make sure that I am left with no doubt that they have considered it line by line.
"All the feedback has been positive. I've already had a meeting with the accountants and I am going to meet with them again next week."
The proposed laws and procedures may have a dramatic impact on insolvency procedures and who can participate in the field. Several insolvency practitioners contacted by Tribune Business decline to comment on the proposed Act as it is still in the drafting stages.
September 08, 2011
tribune242
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
ATTORNEY General John Delaney told Tribune Business yesterday that proposed changes to the Bahamas' insolvency laws and procedures were "long overdue", acknowledging that this nation had fallen "a bit behind" on the issue.
Mr Delaney said the revised legislation was still a work in progress, and the Government was still getting feedback on the draft Insolvency Act.
"That's still a work in progress. Hopefully we finalise it over the next month. It will be clear and more reformed, and hopefully it goes to thes consideration of Cabinet," Mr Delaney told Tribune Business while not wanting to go in-depth on the specifics of the proposed legislation until it becomes finalised.
He added: "It's designed to provide modern provisions. Our insolvency regime is very old. We haven't touched ours for more than 50 years. It's long overdue.
"The proposed changes are meant to bring it current with what you would expect in a modern jurisdiction such as ours, which has companies that are used all over the world for all manner of things. People today expect to have a very modern insolvency regime with the kind of provisions that are more universal. Our laws have fallen a bit behind. Our laws go back many decades. It's still a work in progress. Right now its just being molded in certain regards."
Mr Delaney said the draft has been circulated among accountants, attorneys and the private sector since earlier in the year.
"It has been circulated industry-wide since the first part of this year," the Attorney General added.
"I have specifically asked for the accountants now to weigh in directly, even though they would have they would have gotten it through the industry.
"But because the accountants tend to play such an important role in relation to the administration of companies when they are being wound up, I had specifically asked them to meet with me and make sure that I am left with no doubt that they have considered it line by line.
"All the feedback has been positive. I've already had a meeting with the accountants and I am going to meet with them again next week."
The proposed laws and procedures may have a dramatic impact on insolvency procedures and who can participate in the field. Several insolvency practitioners contacted by Tribune Business decline to comment on the proposed Act as it is still in the drafting stages.
September 08, 2011
tribune242
Saturday, September 10, 2011
The Chinese government attaches great importance to developing practical cooperative relations with The Bahamas
Improving economic and trade cooperation between China and The Bahamas
With a view to deepening mutually beneficial economic and trade cooperation and achieving the common development of China and the Caribbean region, the government of the People's Republic of China and the government of Trinidad and Tobago will co-host the 3rd China-Caribbean Economic and Trade Cooperation Forum (CCETCF) in Port of Spain, Trinidad and Tobago from September 12 to 13, 2011. Vice Premier Wang Qishan of the State Council of China will participate in the forum on behalf of the Chinese government. I hereby wish the forum a great success with rich fruits.
The Bahamas is one of the member states of the forum. The Chinese government attaches great importance to developing practical cooperative relations with The Bahamas. In order to express the friendship of the Chinese government and people to the Bahamian government and people and to assist the Bahamian government in its rescue and reconstruction work in the wake of Hurricane Irene, Vice Premier Wang Qishan will bring a US$300,000 grant in cash on behalf of the Chinese government to the Bahamian government and will witness the signing of an economic and technical cooperation agreement between the two countries during his visit to The Bahamas prior to his travel to Trinidad and Tobago.
Review of Bahamas-China relationship
As Chinese Ambassador to The Bahamas, I'd like to take the opportunity on the convening of the forum to review what we have done in China-Bahamas economic and trade cooperation in recent years, and look ahead to the prospects of future cooperation. By doing so, I wish to promote China-Bahamas economic and trade cooperation to a new high.
In accordance with the joint statement issued by the governments of China and The Bahamas and the Xianmen Declaration reached among enterprises from the two countries during the 2nd CCETCF in September 2007, both sides have put relevant measures into effect conscientiously, thus yielding positive results.
Firstly, the bilateral trade volume has been growing fast. According to the statistics of the Chinese General Administration of Customs, the bilateral trade volumes between China and The Bahamas in the four successive years of 2007, 2008, 2009 and 2010 were US$180 million, US$385 million, US$423 million and US$628 million respectively, up by 9.8 percent, 113 percent, 9.5 percent and 48.5 percent year-on-year. And, the 2010 figure was 3.47 times that in 2006.
Secondly, substantial progress has been made in investment. The Thomas A. Robinson National Stadium, built on a Chinese grant, was handed over to the Bahamian government on June 22, 2011. The Chinese government also honored its commitment to providing a RMB 400 million (about US$58 million) concessional loan for the Nassau Airport Gateway Project. The construction of the gateway started in June 2011 and is expected to be completed in 2013. Moreover, the EximBank of China offered a commercial loan of US$2.45 billion to the Baha Mar project, a large-scale holiday resort; and the China State Construction Engineering Corporation also invested US$150 million in it. The project started on February 21, 2011 and is scheduled to be completed by the end of 2014. The resort is expected to open for business in the first half of 2015.
Thirdly, the first step of agricultural cooperation has already been taken. An MOU on agricultural cooperation was signed by the two governments in February 2009. Experts, engineers and market researchers from the Chinese Academy of Agriculture Sciences and some Chinese enterprises have paid an on-the-spot inspection in The Bahamas. Some enterprises expect to develop agriculture here. Some have even submitted investment cooperation plans to the Bahamian government.
Fourthly, human resources training programs were well received by the participants. From 2007 to 2010, 90 Bahamians including government officials, business managers and technical personnel were sponsored by the Chinese government to participate in 40 training courses and seminars of various kinds. From 2008 to 2011, 22 Bahamian young students were granted Chinese government full scholarship, majoring in a variety of specialities such as traditional medicine, international trade, telecommunications and computer technology. In 2011, the Chinese government provided another three Bahamian officers with a one-year postgraduate training opportunity in China.
Apart from the above, the Confucius Classroom was approved by the governments of China and The Bahamas to be established at the College of The Bahamas, and it was formally unveiled in November 2009. A teacher from China started to teach the Chinese language in the classroom in early 2011.
Fifthly, tourism cooperation has expanded gradually, with more and more Chinese tourists targeting The Bahamas. In December 2008 and March 2009, the Chinese Tourist Agencies Association twice organized operators of its member agencies on invitation to make an on-the-spot investigation of the Bahamian tourist market. The Ministry of Tourism and Aviation of The Bahamas and Royal Caribbean Cruise Ltd. have established their offices respectively in China in an effort to develop new tourism products. During the Chinese New Year holidays in 2011, the first ever group of Chinese tourists choosing The Bahamas as their destination, made an eight-day tour in New Providence and some Family Islands.
Sixthly, personnel exchange has been expanding. Since 2007, the number of Bahamians visiting China has been on the rise steadily. More and more people from the Bahamian business circle participated in the Guangzhou (Canton) Trade Fair and other international investment and trade fairs held in China. Meanwhile, the number of Chinese visiting The Bahamas has also increased very quickly. There are two major reasons for that. The substantial progress of Chinese-invested projects in The Bahamas attracted more business visitors from China. The exchange of high-level visits between the two countries gave rise to deeper people-to-people understanding and more Chinese citizens visiting The Bahamas.
The road ahead
The economic and trade cooperation between our two countries foresees a bright future, featuring a high starting point, fast growth and great potential. Thus, there's more to be done. For a long period of time, from now on, the bilateral investment will focus on areas such as infrastructure, finance, tourism, renewable energy resources, agriculture and fisheries. And such cooperation will surely result in mutual-benefit and a win-win scenario.
In terms of infrastructure, The Bahamas has great demands for the construction of roads, airports, docks and small bridges while Chinese enterprises have the advantage in this field.
In terms of finance, The Bahamas is a major financial center in the Caribbean region. Over 270 international banks and financial institutions have registered and operated their businesses here. The Bahamian side wishes to see Chinese commercial banks set up branches in The Bahamas.
In the tourism sector, The Bahamas is one of the countries that got approved destination status for Chinese tourists. With the smooth construction and operation of the Baha Mar project, coupled with relevant facilitation measures in place from the Bahamian side, more and more Chinese tourists will target The Bahamas as their touring destination.
In the area of renewable energy, The Bahamas has promulgated some policies to boost the use of renewable energy resources. Its market demand for renewable energy is gradually growing. China takes the lead in utilizing solar and wind power in the world, and the Chinese skills in this area well suit the needs of The Bahamas.
As for agriculture and fisheries, The Bahamas is not yet able to realize self-sufficiency in grain currently. However, there's some quite good arable land lying idle on some of its islands. Chinese enterprises can come over to develop livestock and poultry as well as vegetable farms. They can also explore the possibility of developing aquatic products on these islands.
With regard to medical cooperation, China is famous for its traditional medicine, in particular its treatments by acupuncture and medicinal herbs. The traditional Chinese medicine is effective to many diseases, such as functional diseases, chronic diseases, mental diseases, gynecological diseases, initial recovery from serious illnesses, diseases with causes hard to diagnose and difficult and complicated diseases. There are many such diseases in The Bahamas and a variety of wild herbs here that can be used as medicine. Treatment with traditional Chinese medicine is less costly but very effective. So we are taking the initiative in setting up a traditional Chinese medicine research and treatment center in The Bahamas where doctors from both sides can work together to serve the Bahamian people in need of treatment.
In conclusion, China and The Bahamas have achieved great progress in bilateral economic and trade cooperation, and there's still more for us to do. Given that it is in line with the fundamental interests of both countries and peoples to strengthen our economic and trade cooperation, we will continue to make our efforts in this regard.
Sep 09, 2011
Friday, September 9, 2011
We trust that the Free National Movement government means what it says... Accordingly, we remind the FNM of its specific pledge made in 2007, as it relates to establishing a Freedom of Information Act
Freedom and access to information
Within weeks of coming to office in 2007, a new FNM administration led by Hubert Ingraham and guided by a Trust Agenda committed itself to greater democratic governance.
The tabling of the Bahamas Telecommunications Company sales agreements between the government and Cable and Wireless Communications was an example of this commitment, and was in keeping with the prompt freeing of the broadcast media from state control during the FNM’s earlier term in office.
We trust that the Free National Movement government means what it says. Accordingly, we remind the government of its specific pledge made in 2007, as it relates to establishing a Freedom of Information Act:
“Accountability and transparency in government are fundamental to our code of beliefs, a code that includes the right of the people to access information regarding the processes of governing. In support of such openness, legislation will be placed before you for the enactment of a Freedom of Information Act.”
This top billing and decisive language suggested immediate action.
So, what is the state of this pledge? Enacting such legislation near the end of the current government’s term would not seem to be consistent with the FNM’s trust agenda.
Many other countries in the region are either in the process of drafting or have already implemented Freedom of Information laws. Around the world, more than 60 countries have enacted FOI acts.
Freedom of information has long been recognized as a foundational human right ever since the United Nations General Assembly declared in 1946 that, “Freedom of Information is a fundamental human right and a touchstone of all freedoms to which the United Nations is consecrated.” Since then, the Organization of American States and the Commonwealth — The Bahamas being a member of both — have also endorsed minimum standards on the right of information.
A FOI law has the potential to promote greater transparency and accountability and also facilitates greater public participation in the government’s decision-making process. Empowering citizens with the legal right to access information of their government’s activities can strengthen democracy by making the government directly accountable to its citizens on a day-to-day basis rather than just at election time.
Legislation to provide more freedom or access to information is not an end in itself.
An outdated public service culture run by civil servants who would often prefer root canal surgery rather than press scrutiny will not quickly become more transparent because of the passage of a bill.
Moreover, a media culture that is often sloppy and lazy in its coverage of government and political affairs will also not suddenly become more enterprising. Still, such legislation is a means to various ends. It is a part of a framework of legislative tools that can help to promote a more accountable and transparent public service culture.
The debate on enactment of and training in the details of such legislation may help spur politicians, civil servants and journalists to provide citizens with the freedom of information needed to make freer and more informed decisions.
Outlawing discrimination does not end prejudice. But it puts that prejudice on notice that discrimination is against the law. Legislation to ensure greater public access to information will not in itself ensure a more open public service culture. But it puts that culture on notice that such openness is an essential component in good and effective governance.
We trust that the FNM will live up to its word and will be supported by the opposition, who also committed itself to similar legislation.
As of now we are agnostic regarding the details of such legislation. But we have faith that such landmark legislation is not only necessary, but long overdue.
Sep 08, 2011
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