Rhode Island State Partnership Program

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

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 high highest)                   

Specific outcomes:

• 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

“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 News clips
  Rhode Island Business Development Mission forges new links with The Bahamas
• Rhode Island State Partnership Program expands cooperation with The Bahamas
• Two COB students participate in Rhode Island State Partnership Program
• Newport's lessons for The Bahamas
• Bahamian delegation visits Rhode Island