The US Embassy Partners with the Bahamas Chamber of Commerce to Promote Bahamian Entrepreneurship
NASSAU, Bahamas – On Tuesday, May 22, U.S. Chargé d’Affaires John Dinkelman joined the Minister of State for Investments, The Hon. Khaalis Rolle to officially launch the “International Trade and Financing Seminar” at the Sheraton Resort in Nassau.
More than 80 entrepreneurs will participate in the two-day event, co-sponsored by the U.S. Embassy and The Bahamas Chamber of Commerce and Employers Confederation.
The seminar features two American technical experts, Luis Castillo a registered broker for Export-Import Bank, Global Trade and Financing, and James Hunt, MITA Group president, angel investor, and tech-industry expert. This is the seventh time the Embassy has partnered with The Bahamas Chamber of Commerce to put on a Business Education Seminar to promote entrepreneurial growth in The Bahamas.
In his opening remarks, Chargé Dinkelman noted that the event serves as yet another milestone in the productive relationship between the U.S. Embassy and the Bahamas Chamber of Commerce. Further proof of the strength of U.S.-Bahamian economic ties was illustrated in a report by the U.S. Department of Commerce, which ranked The Bahamas as the 48th largest U.S. export market from 2008 to 2010 – bigger than New Zealand, Greece, or Finland, each with a population ten times that of The Bahamas.
“The real story behind this statistic is the deep and continuous commercial relationship between our countries that evolves every day,” Mr. Dinkelman said. “We will continue to look for new ways to support greater entrepreneurship and increased trade through professional exchanges, grants and technical experts that will bring tangible opportunities to The Bahamas.”
The U.S. Embassy’s support of the International Trade and Financing Seminar is part of the U.S. government’s global business strategy known as the National Export Initiative (NEI), which was launched by President Obama in 2010 with the goal of promoting stronger and balanced global growth and fostering increased trade. As the United States’ official export credit agency, Export-Import Bank has more than 77 years of experience in assisting with the financing of multi-million dollar projects. Through Ex-Im Bank’s new multi-buyer program, small and medium size businesses are now able to access smaller loans to purchase much needed supplies. Last year, small business transactions represented 87 % of EX-IM’s US$32.7 billion in loans.
“By co-sponsoring this seminar in Nassau and the second two-day event in Freeport on May 24, we hope Bahamian entrepreneurs of every scale take advantage of the opportunity to learn about the financing tools Ex-Im bank has to offer,” said the U.S. Embassy’s Political, Economic and Commercial Chief, Alex Sokoloff. “As a former entrepreneur, I know from experience that obtaining the right information is key, which is why the Embassy will continue to partner with The Bahamas Chamber of Commerce to ensure Bahamian entrepreneurs are able to access critical tools to either launch a new business or take it to next level.”
