Bahamas and Dominican Republic Considering Joint Business Council

Above: the Dominican Republic’s Jean Alain Rodriguez and the Bahamas’ Ryan Pinder (BIS Photo/Eric Rose)

By the Caribbean Journal staff

The Bahamas and the Dominican Republic are considering establishing a joint business council with members of the private sector of both countries.

The council is a proposal of Bahamian Financial Services Minister Ryan Pinder, who said a framework for a Memorandum of Understanding on the idea is expected to be completed by the end of this month.

Pinder was speaking during a press conference with Foreign Minister Fred Mitchell and Agriculture and Marine Resources Minister Alfred Gray following bilateral talks held in the Dominican Republic focusing on alleged poaching in Bahamian waters.

The talks, which were held from Oct. 30 to Oct. 31, also focused on agricultural, trade and economic joint ventures between the two countries.

“The Bahamas recognizes the demand for seafood in the Dominican Republic and discussed that, in light of the increasing issues and challenges with illegal poaching in our waters, a process should be undertaken to regularize the trade of seafood,” Pinder said. “The possibility of legitimizing trade in fisheries — in particular lobster, stone crabs and scale fish — would be beneficial to both countries.”

He also said the Bahamas had much to offer the Dominican Republic in the way of products and services, and was “committed” to ensuring that the Bahamas’ manufacturing industry was equipped to facilitate trade demand.

“Our government is committed to ensuring economic development for our country and our people under the EPA,” he said.

He said that the Dominican Republic was open to the joint business council, along with the Bahamas’ potentially hosting a trade fair.

“We see the Dominican Republic as a key market for the council to pursue,” he said.