By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A Bahamian businessman yesterday said many of his WTO-related concerns have been eased following the private sector's meeting with the Government negotiating team last week.

Robert Myers, pictured, who is part of the Chamber of Commerce's World Trade Organisation (WTO) committee, said the transparency and collaboration issues he identified in an interview with Tribune Business earlier this week had been addressed at the meeting.

"The meeting between the two teams was very productive and positive, and the WTO working group looks forward to ongoing collaboration," he told this newspaper. "Both parties agreed to collaborate and work together for the best possible result for The Bahamas."

He added that the Government team, headed by former cabinet minister, Zhivargo Laing, had promised to be as transparent as possible given the need to maintain confidentiality on The Bahamas' position prior to negotiations over the terms for it to become a full WTO member.

"They do have to negotiate on our behalf," Mr Myers acknowledged, "but the intent is they're going to be proactive, collaborative and transparent. It's a first step to ongoing collaboration between the public sector and private sector.

"I think there was a lot accomplished, and a lot of confidence going forward. A lot of my concerns were eased. The collaboration is there, the transparency is there, and we're very encouraged moving forward."

Mr Myers, speaking to this newspaper prior to the meeting between the Chamber committee and government negotiating team, had expressed concern that the Government may repeat the habit of past administrations by agreeing to something without consulting the private sector and then merely revealing what was agreed on its behalf.

"They've had consultations but not shared their views," he told Tribune Business. "Having consultations but not sharing views is no help. If they're going over there and negotiating, how do we know they're negotiating in our best interests?

"There's no transparency at all. Don't come back and say this is what the provision is; is this okay? Now they've sent our offers in, we'll be told what they've done. That may not be in my best interest. We have all the hope in the world, but I wouldn't call that transparency and real consultation and consensus.

"That seems to be the modus operandi. That hasn't changed yet, despite the fact everyone is screaming for more transparency and more consensus and consultation. But I accept that when you're crisis managing it's awfully hard."

The precise impact that full WTO membership will have on the Bahamian economy will be determined by the skills of Mr Laing and the negotiating team, and the accession terms they strike with the WTO and its members that have an interest in trading with this nation.

The Government is presently gearing up for the Third Working Party meeting on The Bahamas' accession bid, due to start in Geneva on September 21. Members of the working party will likely feature the US, China, Canada, the European Union (EU), UK and CARICOM states - all the countries that trade with this nation.

The Third Working Party meeting is key, since this will likely establish the foundation for The Bahamas' accession terms and pave the way for more detailed follow-up negotiations with individual members of the working party on a bilateral basis.

Among the major changes affecting all Bahamians will be the elimination, or substantial lowering, of many import tariff rates as these are seen as barriers to trade by rules-based regimes such as the WTO. This will require the country to replace between $100m-$200m in revenues via new or increased taxation elsewhere.

Those industries facing the greatest impact from joining WTO will be those that are currently heavily reliant on high tariff protection or barriers to foreign competitors/imports entry, such as local manufacturers and retailers. The Government is arguing that the services industry, the largest component of the Bahamian economy, is already widely open to competition and will be largely unaffected.