THE HONOURABLE DION FOULKES MINISTER OF LABOUR & TRANSPORT & LOCAL GOVERNMENT WORLD MARITIME DAY ROUNDTABLE REMARKS SEPTEMBER 24, 2020

A pleasant good morning to all the attendees and participants in this Round Table discussion.  Permit me to convey the apologies of the Minister of  Labour, Transport and Local Government, the Hon. Dion Foulkes, who is unable to be with you this morning due to other competing ministerial commitments.  Today, it is indeed my pleasant duty to deliver these remarks on his behalf.  Having said that, permit me to also congratulate you and the National Maritime Implementation Committee on your yeoman efforts in planning this event in celebration of World Maritime Day.

I wish to also extend appreciation to the Chairperson of the National Maritime Implementation, Reverend Angela Palacious, and to congratulate her on the work that she and her committee is facilitating; by extension congratulations are also extended to the staff and administrative team at the Ministry of Transport and Local Government for their continued hard work and commitment in  managing  the  maritime related portfolios within their remit.

You would be aware that Chairperson Palacious and her Committee, along with others in the maritime sector, are all working assiduously to promote our Bahamian Blue Economy. In this regard, the Government of The Bahamas is delighted to celebrate World Maritime Day with this ‘roundtable,’ organized by the Education sub-committee of the National Maritime Policy Implementation Committee.

Ladies and Gentlemen, notwithstanding the global economic crisis caused by the COVID-19 Pandemic, we are fervently forging ahead with developing our Blue Economy in The Bahamas. The Bahamas’ marine waters are a key national asset, and the health of the oceans are inextricably linked to the sustainability of the economic livelihoods for coastal communities and Bahamians in general. They also provide a range of essential goods and services that would be extremely costly to restore or replace once lost. If our use of them is well managed, they can meet a broad range of economic, social and cultural aspirations. And in this regard the Government of The Bahamas recognizes that ecosystem health and integrity is fundamental to ecologically sustainable development.

It is universally known that the principal driver of economic growth is market demand for products and services.  This demand is shaped by consumer preference which is underpinned by global competitiveness or a comparative market advantage. While it is difficult to appreciate the potential for new economic pursuits to generate value and national economic growth, what is important, however, is that the right enabling environment is created to attract and support future investments.

The implementation of the National Maritime Policy by the Government of The Bahamas is the means by which economic growth can be facilitated. This can be achieved through maximizing the comparative advantage provided by the unique features of The Bahamas and by creating a competitive and business-friendly governance and policy and planning environment for marine activities.

In this regards, our Identification of market opportunities should focus on the growth and development of existing marine ventures as well as the development of new and emerging opportunities in this sector.

The foregoing is essentially a snapshot of the Government’s vision for this policy driven initiative.

Once again, I congratulate the National Maritime Policy Implementation Committee which is comprised of representatives from more than twenty-five maritime related Government Departments and Non-Governmental Agencies, for its hard work and commitment in the development of our Bahamian Blue Economy, combining the preservation of our environment with economic development. At this juncture I would be remiss if I were not to state that I look forward to timely updates of our national progress in this regard.

In closing, permit me to once again extend hearty congratulations on this initiative and to convey best wishes for an insightful and invigorating discussion.

Thank you. And I now declare the ‘Round Table’ discussion officially open.