Bahamas unveils trade hub to boost global competitiveness

Bahamas Prime Minister Philip Davis on Friday said the country has a clear roadmap to manage trade more strategically and improve the competitiveness of Bahamian businesses, as his administration rolled out a new initiative aimed at expanding access to global markets.

Speaking at the opening of the Opportunity Hub: Trade + Access to Global Markets, Davis emphasized the government’s focus on strengthening key sectors while building stronger connections between industries.

“We want to build on our natural strengths in areas such as fisheries, creative industries, natural products, and high value services, even as we deepen the linkages between tourism and local producers,” Davis told the opening of the Opportunity Hub: Trade + Access to Global Markets.

The prime minister described the Opportunity Hub as a centralized platform designed to streamline access to government-led initiatives and resources. These include programs such as upskill Bahamas, the National Apprenticeship Programme, the National Youth Guard, as well as grants, financing, mentoring, and access to technical expertise.

Davis noted that as early as 2022, his administration had introduced a comprehensive National Trade Policy for public consultation, positioning trade as a priority area for economic growth.

He said the policy aims “to grow our economy, to reduce our dependence on imports, to create more Bahamian success stories, and to situate trade within our larger plan for national development.”

Amid shifting global dynamics, Davis acknowledged both opportunities and challenges facing small economies like The Bahamas.

“What I believe…is that we should never set our sights low. I know that we can thrive, and not just survive, in these changing times. We led an economic recovery that created thousands of new jobs, now we need to create thousands more, and good ones, so people can do more than just get by.”

The prime minister also underscored the importance of fostering innovation and entrepreneurship, pointing to ongoing investments in energy reform, infrastructure, and workforce development.

“Our energy reforms and our infrastructure investments are nationwide efforts, unprecedented in scale. And of course, we are investing in our people, because preparing Bahamians for emerging opportunities is the best way to build a bigger, more inclusive economy.”

Davis stressed that trade and diplomacy remain essential tools for expanding economic opportunities beyond the country’s borders.

“Of course, trade and diplomacy are also important tools in creating new opportunities for Bahamians, that’s how we help Bahamians compete beyond our borders,” he said, adding, “when we expand trade, we create new revenue streams for Bahamian businesses.

“We encourage innovation and competition, and we reduce our dependency on limited markets.”

He added that the Bahamas Trade Commission is advancing a National Trade Diversification Strategy aimed at identifying new regions and sectors for growth, while also connecting local entrepreneurs to international opportunities.

Davis also announced the launch of a new digital platform by the commission, designed as a central hub for trade-related resources.

“Today, we are introducing the Bahamas Trade Commission digital platform, which features a comprehensive Trade Resources Page designed to support Bahamian businesses,” he said.

“It brings together in one place, financing and funding opportunities, trade missions and international events, import and export guidance, market intelligence and analysis, and practical toolkits for doing business locally and internationally.”