Chancellor Antonio de Aguiar Patriota, Minister of External Relations for the Government of the Republic of Brazil (left) and Hon. Ryan Pinder, Minister of Financial Services (right)
Brasilia, Brazil, – The Hon. Ryan Pinder, Minister of Financial Services, including in that portfolio responsibility for international trade and industry, on Tuesday September 18th, convened high level discussions with Chancellor Antonio de Aguiar Patriota, Minister of External Relations for the Government of the Republic of Brazil. Minister Patriota also has responsibility for international trade matters for Brazil.
Enhancing commercial and technical cooperation and increasing international trade between The Bahamas and Brazil topped the discussions between the two Ministers. In that context, Brazil indicated its support for The Bahamas’ accession to the World Trade Organisation, noting that The Bahamas’ accession would have significant symbolic importance to the Organisation. The Bahamas remains the only country in the Western Hemisphere which is not a member of the World Trade Organisation.
Brazil’s delegation (left) sits across from the Bahamas’ delegation.
Minister Pinder stressed the comparative advantages of and opportunities available to Brazilian businesses when they establish a commercial presence in The Bahamas, particularly those seeking to conduct business in Europe and CARIFORUM countries, as The Bahamas is a signatory to the Economic Partnership Agreement between CARIFORUM and the European Union. Minister Pinder also highlighted in particular the inherent trade and industry benefits of Grand Bahama, including the existence of Freeport as a Free Trade Zone and the related logistical advantages of the container port and oil transhipment and storage facilities on that island.
Coming from the ministerial meeting will be further dialogue with members of the Brazilian private sector and the potential for a business to business trade mission. The Bahamas also anticipates hosting Brazilian officials on commercial matters in the near future. The discussions concluded with an acknowledgement of The Bahamas’ individual profile as a country.
Minister Pinder’s meeting with his counterpart Minister with responsibility for international trade was part of his wider commercial mission to Brazil, including visits to three cities, Brasilia, Sao Paulo and Rio de Janeiro, during which emphasis has been placed on the further strengthening of The Bahamas’ position as the leading International Financial Centre, particularly as regards to wealth management, and more generally, materialising business opportunities for The Bahamas.
Accompanying the Minister was the Acting Director of Trade Industry in the Ministry of Financial Services, Viana Gardiner, and Head of the Economic Division in the Ministry of Foreign Affairs, Chet Neymour.
