. /.   WORLD TRADE  
ORGANIZATION  WT/MIN(09)/ST/96 
2 December 2009 
 (09-6176) 
MINISTERIAL CONFERENCE 
Seventh Session Geneva, 30 November - 2 December 2009 Original:   English 
 
  
BAHAMAS 
 
Statement by the Honourable Minister Zhivargo Laing
 
Minister of State for Finance, Ministry of Finance  
(Speaking as an Observer ) 
  
 At this Seventh World Trade Organization (WTO) Ministerial Conference, I wish to confirm 
my Government's philosophy that economic deve lopment is facilitated by open, transparent and 
predictable trade policies.  We, like many of the co untries here, have been significantly impacted by 
the current global economic and fina ncial crisis.  We ac knowledge, however, that the impact of the 
crisis, as bad as it has been, could have been that  much worse if many countries chose to adopt 
measures to restrict trade.  This did not happen, a fact no doubt influenced by  the rules-based trading 
system of the WTO.  The Doha Development Round  represents an opportunity to further strengthen 
the global trading system and enhance the ability of all countries, including small and vulnerable 
countries, to participate more beneficially in th e global trading system and world economy in which 
they operate by providing development-centred outcomes and appropriate technical assistance. 
  In his opening address, the Director-General noted that " Trade in itself is not a magic potion.  
For trade to work, it has to be rooted in a bedro ck of domestic policies that enable its potential gains 
to be realized.  The commitments we negotiate here need to complement and support these domestic 
policies ."  We fully endorse this statement by the Director-General.  Since gaining independence 
in 1973, the Government of the Bahamas has pursued policies which focus on the progressive 
development of the economy through strict respect  for the rule of law, the adoption of market 
principles and respect for property rights.  The pursuit of these policies h as encouraged significant 
levels of both domestic and foreign investment in  the economy which has led to sustained economic 
growth and stability.   The Bahamas is a member of CARICOM which, as a region, has been an integral part of efforts to highlight the special needs of sm all vulnerable economies (SVEs), calling on all 
WTO Members to ensure that the rules and pro cesses of the Organization are compatible with the 
peculiar needs of such countries.  We support these efforts by our region.  We would wish to have 
these factors taken into account as we seek to obtain WTO entry terms that are compatible with our 
development needs, aims and objectiv es and with the welfare of our people 
 
 We in the Bahamas share many of the charact eristics of small and vulnerable economies.  Our 
share of international trade is extremely small.  We are an open economy, a factor that makes us 
significantly vulnerable to external economic shoc ks, as the present global economic crisis clearly 
demonstrates.  The domestic market is small and characterized by a large number of small and micro enterprises.  Similar to other small and vulnerable economies, there is a narrow range of exports and 
few products shipped to a limited number of countries. 
 WT/MIN(09)/ST/96 
Page 2  
 
   We are one of 29 countries now in the process of acceding to the World Trade Organization, 
having obtained observer status in 2001.  We have no great endowme nt of natural resources and the 
Government is obliged to replicate its administra tive and infrastructural amenities throughout all of 
the inhabited islands of the Bahamas, which now  number 29.  This places a heavy strain on our 
country with its small populati on and limited resources.  We therefore call upon WTO Members to 
take account of the unique vulnerabilities of c ountries such as the Bahamas during the accession 
process.  We call upon Members to ensure that the process allows for entry terms appropriate to the 
development needs of the Bahamas, ensuring our sm ooth entry into the World Trade Organization and 
further integration into the global trading system.  
 It is well known by now that the WTO accessi on process is a complex one which is frequently 
overwhelming for acceding countries.  For this reason we support the steps by the WTO Director-General, Pascal Lamy, particularly si nce the beginning of this year, to streamline the 
process, to make it more transparent and to en sure that it is a development-friendly one. 
 
 To ensure an efficient negotiating process the Government of the Bahamas has already taken 
a number of steps, including the establishment of tr ade-related administrative structures in both the 
public and private sectors.  We are actively consid ering the establishment of a permanent mission in 
Geneva and have undertaken a co mprehensive review of all of the trade-related legislation. 
  We call on WTO Members to support the acces sion process of the Bahamas, taking into 
account that we are a developing country, subject to vulnerabilities such as natural disasters, and 
already experiencing the effects of climate change  to our coastal environment, upon which our rural 
populations depend for fisheries, and which is integr al to our tourism product.  In spite of these 
challenges, we indicated our commitment to the rules-based system by participating in the 
first North-South Trade Agreement between the European Union and the CARIFORUM States that 
was signed in October 2008. 
  We support the call by many Members and ac ceding countries for an annual report by the 
WTO Director-General on accessions, which would have as its objectives:  (i) improving information exchange and transparency;  (ii) setting objec tives and priorities;  and (iii) assisting acceding 
governments to navigate the accession process more easily. 
 
 That is why I wish to stress again how im portant it is that the unique vulnerabilities of 
countries such as ours are taken into account duri ng the accession process and why entry terms must 
be agreed that are compatible with our deve lopment needs and positively support our further 
integration into the global economy. 
 
 We all have a stake in a properly functioning rules-based global trading system;  the hopes, dreams and aspirations of our peoples can be advanc ed by it.  We must work together not only to 
conclude the Doha Development R ound but to make its gains manifest in the lives of our citizens 
 
__________