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Rhode Island State Partnership Program Export Trade Mission to Nassau, The Bahamas
Coordinated by the State Partnership Program (SPP) of the Rhode Island National Guard and the Rhode Island Economic Development Corporation.
On May 14 - 16, five Rhode Island companies participated in a trade mission Nassau. The mission was coordinated by the Rhode Island National Guard’s State Partnership Program (SPP). Nationally, State Partnership Programs (SPP) bring together the National Guard in each of the 50 US states and partner nations through a wide range of military, civil-military and civil activities.
The RI National Guard State Partnership Program (SPP) with The Bahamas formally originated when representatives from the Government of the Commonwealth of The Bahamas (GCOB) were received by the Adjutant General for RI, Brigadier General John Enright in December of 2005. This relationship was further cemented when a Senior Leader Delegation from RI visited the GCOB in January of 2006. During this visit, the RI delegation and their counterparts from different Bahamian ministries and agencies laid the groundwork for a mutually beneficial relationship between RI and the GCOB.
U.S.-Bahamian Relations
The United States historically has had close economic and commercial relations with The Bahamas. The countries share ethnic and cultural ties, especially in education, and The Bahamas is home to approximately 30,000 American residents. In addition, there are about 110 U.S.-related businesses in The Bahamas and, in 2005, 87% of the 5 million tourists visiting the country were American.
As a neighbor, The Bahamas and its political stability are especially important to the United States. The U.S. and the Bahamian Government have worked together on reducing crime and reforming the judiciary. With the closest island only 45 miles from the coast of Florida, The Bahamas often is used as a gateway for drugs and illegal aliens bound for the United States. The United States and The Bahamas cooperate closely to handle these threats. U.S. assistance and resources have been essential to Bahamian efforts to mitigate the persistent flow of illegal narcotics and migrants through the archipelago. The United States and The Bahamas also actively cooperate on law enforcement, civil aviation, marine research, meteorology, and agricultural issues. The U.S. Navy operates an underwater research facility on Andros Island.
Mission Benefits: Mission participants attended a Business Education and Development Seminar given by representatives from the Bahamas Chamber of Commerce, the US Embassy in the Bahamas, and the Bahamas Development Bank. Mission participants also had one-on-one matchmaking appointments with potential business agents, distributors, and joint venture partners.
Other Mission Benefits:
- Opportunity to generate sales leads;
- business briefings highlighting economic issues, cultural practices, and export logistics;
- Receptions for business partners; and transportation.
Memorandum of Understanding
During the Mission, the Bahamas Chamber Of Commerce, the Bahamas Development Bank and the Rhode Island economic Development Corporation signed an official Memorandum of Understanding. This is an agreement to promote joint economic cooperation in the following areas: Financial Services, Tourism, and Education.
Summary of Bahamas Export Mission Results
1. Dollar value of potential sales that may result within the next twelve months as a result of the companies’ participation in the Business Trade Mission to the Bahamas: (Five out of five companies responded) Total Projected Sales: $400,000
2. Number of serious business leads generated: 19
3. Number of potential Distributors, Agents, End Users (Identified/Signed): 6
4. Rating of the quality of service that companies received from RIEDC: 9.2 (1 lowest 10 highhighest)
Specific outcomes:
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Newport Vineyards has been asked to develop a proposal to distribute their wines at the Atlantis Resort;
- Northeast Engineers has been asked to develop a joint venture partnership with several, local contractors and design firms;
- Newport Collaborative Architects has been asked to return with RI investors to consider participating in several downtown Nassau development projects;
- Sea Fresh USA has been asked to quote and send samples of their high end
seafood and aquamarine products; and - The Newport Chamber has been asked to connect the URI Coastal Resources Center with the Bahamas Nature Conservancy and National Trusts to develop training partnerships in coastal planning and land use management policies.
The Chamber has also been asked to develop a plan to create a Bahamas to Newport sailing regatta. - Roger Williams University is interested in pursuing a MOU with the College of The Bahamas.
Comments
"The trip was well-organized and the ties to the US Embassy opened many doors with the local companies.” John Grosvenor, Newport Collaborative
“Our main mission was to determine the market potential for our wine. Objective was met.” John Nunes, Newport Vineyards
"Excellent - well organized event.” Chris Lee, Sea Fresh US
Rhode Island State Partnership Program Press Releases