. /.WORLD TRADE
ORGANIZATIONWT/MIN(03)/ST/156
13 September 2003
(03-4928)
MINISTERIAL CONFERENCE
Fifth Session
Cancún, 10 - 14 September 2003Original:  English
BAHAMAS
Statement by the Honourable Leslie Miller
Minister of Trade and Industry
(Speaking as an Observer)
It is indeed an honour and privilege for my delegation to attend this Fifth WTO Ministerial
Meeting and for me to be afforded the opportunity to address this august body.  At the outset, I wish
to congratulate the Government of Mexico and the WTO organizing committee for the excellent
arrangements which have been put in place here in this beautiful and historic city of Cancún to ensure
the success of this meeting.
The Bahamas is one of twenty-seven (27) Observer countries that are seeking membership in
the WTO.  In July 2001, when the Government of the Bahamas applied for Observer status in the
WTO, emphasis was placed on our commitment to the ideals of free and fair trade and our willingness
to actively participate in a strong, viable, transparent, fair and predictable global trading system and
that this would be done on terms which are mutually favourable to both the Bahamas and other
Member countries of the WTO, terms which should continue to facilitate the long-term sustainable
growth and development of our nation.
Since obtaining Observer status in 2001, the Government of the Bahamas has commenced the
preparation of the Memorandum of Trade Regime, and intends to submit the document to the WTO
Accession Committee by end of December 2003, thus officially initiating the negotiations process for
membership in the WTO.
Over the past two years, the WTO Secretariat has been instrumental in providing technical
assistance and training to Bahamian officials to assist in building capacity and increasing awareness
of the World Trade Organization and Agreements.  The installation of the WTO Reference Centre at
the College of the Bahamas in September 2002 has served to benefit faculty, students and the generalpublic.  A number of Bahamian officials have also participated in courses held in Geneva, regionally
and locally.  We are indeed grateful for the assistance provided by the WTO Secretariat and look
forward to receiving ongoing assistance and guidance as well as benefiting from the experience of
other Member countries, in particular the experiences of our sister Caribbean nations, as we continue
to build broad consensus and awareness on the WTO.
The Bahamas is a small, vulnerable, developing island nation, which is dependent on customs
duties as the major source of revenue for central Government administration.  Customs duties are
applied across the board and do not discriminate against goods on the basis of their point of origin.
The services sector, dominated by tourism, financial, maritime and other ancillary services, accounts
for approximately 65 per cent of GDP, and has always been open to foreign investors.  The GATS
negotiations would therefore be of particular significance to the Bahamas.WT/MIN(03)/ST/156
Page 2
The Government of the Bahamas is cognizant of the challenges that lie ahead as we move
forward with our accession to the WTO.  We are also fully aware of the daunting challenges which
developing nations, such as ours, have experien ced in terms of complying with and implementing
WTO commitments and seeking to balance national policies, which will promote long-term economic
growth and development, with the equally important need to ensure our integration with the globaleconomy.
We applaud the recent resolution by the WTO on the issue of the provision of cheaper,
generic drugs to developing countries.  This action signifies that the ideals of the WTO are indeed
attainable.  Before the end of this Round, it is imperative that other issues of concern for developing
nations including agriculture subsidies, special and differential treatment, progressive tariff reduction
and elimination must be addressed in a pragmatic, fair and transparent manner.
Every effort should be made at this Fifth Meeting for developed nations to lead the way in
finding practical, workable and effective solutions to these issues of concern, which are obstacles to
progress in the negotiations.  During this round of negotiations the membership of the WTO must
ensure that the organization is responsive and on track in meeting the needs of all of its Members,especially small developing nations which require greater flexibility and longer transition periods in
meeting their obligations and facilitating their full participation in the WTO, thereby giving true
meaning to the term "special and differential treatment".  As the Bahamas moves forward in its quest
for membership in this body, it is our hope that the negotiations process will be a harmonious and
beneficial one and that the WTO will continue to be a beacon of hope for its membership in bringingabout a fairer system of trade between developed and developing countries.
__________