WASHINGTON, D.C., April 25, 2023 – Addressing members of The Washington Intergovernmental Professional Group (WIPG) at a reception attended by senior government officials, diplomats and leaders of the business community at Patriot Strategies in downtown D.C. on Monday, April 24, His Excellency Wendall K. Jones, Bahamas Ambassador to the United States, declared that The Bahamas seeks “to embrace every opportunity to build strong relationships, to learn more about our affiliates, and to share the story of The Bahamas, the vision and interests of our government and the aspirations of the Bahamian people.”
“The Bahamas is a remarkable country of 700 islands and cays, spanning 100,000 square miles about 65 nautical miles off the coast of Florida, surrounded by azure, crystal clear waters, spectacular marine life, a year-round subtropical climate,” Ambassador Jones said. “These assets, combined with the vision of governmental and industry leaders and the warm hospitality of the Bahamian people have served as the winning formula for the spectacular growth of tourism, financial services and development over the last seventy years.”
He added: “From the days of the Lucayans and the opening of the Americas, the beautiful islands of The Bahamas were a magnet to people from around the world – to include European exploitation, as well as the landing of Columbus in San Salvador. Today as we prepare to celebrate the 50th anniversary of our independence, we are a people with a distinct identity among the nations of the world.
“One of our former Governors General, Sir Arthur Foulkes, stated that: ‘We are Bahamians, and we have woven a single, rich cultural tapestry of threads from Africa, Europe and Asia, threads spun and coloured in the Americas and the islands of the Caribbean. We are one people, one Bahamas, proud of our music, proud of our songs and dances, proud of our folklore, proud of our works of art.’ ”
“Since majority rule was achieved in 1967, The Bahamas has been governed by conservative administrations that created a level of political stability, while adhering to the concepts of freedom, equality, and democracy. In fact, the Pre-amble to our Constitution states that ‘the people of this family of islands recognize that the preservation of their freedom will be guaranteed by a national commitment to self-discipline, industry, loyalty, unity, and an abiding respect for Christian values and the rule of law. “
Continuing, Ambassador Jones stated: “It is widely known at The Bahamas has been a fairly well-governed country for more than one hundred years. Even though the economy was fueled with money from blockade running and prohibition, when liquor was illegal in the United States, this law in the United States created boom times in The Bahamas. It enabled the government of The Bahamas to provide much needed infrastructure to create the modern city of Nassau.
“From those days leading into the 1950s, and with the Cuban Revolution of 1959, The Bahamas was on its way to become a mecca. Today the tourism plant is the envy of the Caribbean with mega resorts like Atlantis and Baha Mar in New Providence and a variety of resorts like Our Lucaya and Pelican Bay in Grand Bahama, Sandals and Grand Isle in Exuma, Club Med in San Salvador, and Baker’s Bay in Abaco. In this post pandemic era, it is expected that this year some eight million tourists will visit our shores.
“Ever concerned with product development and improvement, the Bahamian tourism industry is now diversified with discerning international investors taking advantage to invest in resort development in many of the islands and cays. The 365 cays in the Exumas have become the choice location for many international investors. The names of those who have bought and developed small islands and cays are well known in Hollywood and on Wall Street.
“While the islands in the northwest Bahamas were once favoured, there is increased interest for boutique hotels in the southeast Bahamas with choice locations on Long Island, Cat Island, and the islands of Crooked Island, Acklins, Mayaguana, and Inagua. In these parts, eco-tourism has become popular. Captains of industry in America testify of their best vacations in these parts as they enjoy bonefishing or seek to catch passing jacks, pink snappers or even blue marlins. In these parts the glorious flamingos add colour to the beautiful plant life from cascarilla, the yellow elder, and the lignum vitae.
“The second pillar of the Bahamian economy, that has served our people well for decades and greatly helped to build and sustain the middle class, is Financial Services, which was destabilized by the unfair rules of the Organization for Economic Cooperation and Development (OECD), the Financial Action Task Force (FATF), and the European Union (EU).”
Declaring that in the 1970s The Bahamas was considered one of the leading financial centres of the world, Ambassador Jones added: “In the decades since independence, The Bahamas became the largest depository of euro dollars in the world. I repeat…in the world. That means it held more US dollars outside the United States than any other country. The laws of The Bahamas made it attractive to deposit US dollars there.
“The actions of these the previously mentioned organizations forced the government of The Bahamas to pass a legislative package in 2000 that better regulated the financial sector and prevents money laundering in the sector. Today the number of offshore banks registered in The Bahamas has declined substantially, although we are considered one of the cleanest and best regulated jurisdictions of the world.
“The international financial centers generally are no longer destinations for suitcases full of cash. Those days are gone. Countries like The Bahamas are challenged to convince industrialized countries that we are not simply places to hide illicit gains or dodge taxes.
“The Bahamas has since evolved from tax haven status where people simply parked money to a financial centre competing globally. It is noteworthy to mention that in the recent decade, tax scandals have taken place in London, New York, and in Latin America, rather than The Bahamas.
“Additionally, The Bahamas has fostered legislation which meets the global standard for transparency and good corporate governance. This is the trajectory that The Bahamas expects will enable it to remain an outstanding financial destination for many years to come. “
Having said this “of the industries and sectors most important and vibrant in The Bahamas”, Ambassador Jones added that “our island nation yet faces major challenges.”
“Over the last few years, particularly since Hurricane Dorian wreaked havoc on the islands of Abaco and Grand Bahama in particular, our Prime Minister, the Hon. Philip Davis, has travelled the world and has been one of the drum majors bringing the attention of world leaders to the issue of climate change, addressing the urgency this threat is to our economy, and even our existence,” Ambassador Jones said.
He added: “Hurricane Dorian, in 2019, caused some $3.4 billion in damages. It is also estimated that 40 percent of our national debt is related to the affects of hurricanes. So, while the polluting nations get richer, the suffering nations get poorer. This is an injustice which must be addressed as a matter of urgency.
“If we are not careful we will continue to produce tens of millions of climate refugees. They will put pressure on borders and security and political systems across the world.
“We in The Bahamas for the most part are victims of climate change as we have been victims of slavery.
“In addition to the threat of hurricanes, the government of The Bahamas is also cognizant of the carbon market and has taken action to pass innovative new legislation to deal with Blue Carbon – creating a regulatory framework for dealing and trading in carbon credits. And other countries are adopting our model.
“Subsequently, in June 2022, the Climate Change and Carbon Market Initiatives Act came into force.
By working together and collectively listing our blue carbon credits on the Blue Carbon Exchange, we can:
- Incentivize industrialized nations to reduce carbon emissions.
- Boost our economies with new revenue streams.
- Substantially reduce the cost and impact of climate change on our people.
“In The Bahamas we have perhaps the largest amount of seagrass, mangroves, saltmarshes and wetlands, valued at over $30 trillion at today’s carbon price. The carbon credit market is expected to offset emissions.
“The Bahamas has the potential to have millions of credits to enter the Carbon Market over the next several years. (Large numbers of credits may be purchased per year. Unused credits may be re-sold.)
“What we now need is an equitable framework put together by the International Community to govern carbon credits. This was one of the items on the agenda at COP27 in Egypt in 2022.
“While The Bahamas currently has national laws in place, we are awaiting the international laws in order to trade carbon credits.
Shifting to the area of foreign policy, Ambassador Jones said “successive administrations in The Bahamas over the last 50 years followed the dictum of the founding father Sir Lynden Pindling, that we are friends of all and foes of none.”
“It is a recognized fact of life that the foreign policy of every country must deal with the preservation of its independence and security and second with the pursuit and preservation of its economic interests,” he said. “There is more good news, and more opportunities for collaboration.”
Continuing, Ambassador Jones added: “The economy of The Bahamas over the years has also grown exponentially due in part to public-private partnerships (PPPs). As we seek to develop our country, PPPs are encouraged and sought after, particularly for the development of our family islands.
“Aspects of PPPs have a long history in The Bahamas—the projects over the years including construction, bridges, and upkeep of public roads, and even airports. The present government is currently pursuing several initiatives to drive developments.”
Stating that The Bahamas is a nation in progress, Ambassador Jones noted that given “the size of our population, just under 400,000 people, we have produced many Bahamians who have excelled on the world stage.”
He added: “You would know of Sidney Poitier, who was a leader in Hollywood and American cinema; Bert Williams, the great comedian who appeared in a command performance at Buckingham Palace; Paul Meeres was perhaps the greatest cabaret dancer of his age. In athleticism, there have been remarkable achievements by Bahamians in professional sports—the names in the North American professional leagues of baseball, basketball, and football too numerous to mention. At the Olympic level, our countrymen are justly proud of golden medal achievements of many Bahamian athletes, and in 2020 the Bahamas ranked first in medal count per capita.
“Despite our many challenges, The Bahamas is an exemplar among small developing states. On the present course and under the leadership of Prime Minister Davis, the nation is filled with hope. Even though we are the third border to the United States, I should also add that we are your best neighbour—in our opinion.
“I take this opportunity to invite you all to share our story, to visit our country, especially in this year of our golden jubilee—to experience the place where man and nature have conspired to make The Bahamas a visual wonderland.”
EDITOR’S NOTE: The Washington Intergovernmental Professional Group TM (WIPG) was created in 2009 to assist DC-based professionals in maximizing their network and potential, as well as delivering value to their various stakeholders.
SOURCE: WIPC Website
