Premier Paula Cox is currently leading a delegation from Bermuda to visit member countries of the Gulf Cooperation Council [GCC] in an effort to strengthen and further Bermuda’s partnerships with the region. All expenditure for the Qatar visit is at the expense of the State of Qatar.
The delegation consists of Minister of Business Development & Tourism Wayne Furbert, Cabinet Secretary Donald Scott, Bermuda Monetary Authority CEO Jeremy Cox, Permanent Secretary of the Ministry of Business Development & Tourism Ross Webber and Belaid Jheengoor from PriceWaterhouseCoopers.
Meetings are already underway today [Oct 7], as the group met with the Dubai International Financial Centre and the Dubai Financial Services Authority.
Following the Premier’s visit to London in July to promote Bermuda, the London Office has been engaged with the Embassies of the State of Qatar and the United Arab Emirates.
As a result of the dialogue, the Premier was extended an invitation by His Excellency Sheikh Hamad bin Jassim bin Jabr Al-Thani, Prime Minister and Minister of Foreign Affairs to the State of Qatar. The Premier and delegation will be received as his guests.
The Finance Ministry said: “Over the course of the next few days, the Premier and the delegation will visit the United Arab Emirates and Qatar and participate in a series of high level meetings to build on established relationships with the member countries. In the United Arab Emirates, the delegation will meet with various government and business entities in Dubai and Abu Dhabi.”
In Qatar the delegation will be the guests of the Prime Minister and will hold meetings with government and business organisations.
Premier Cox said, “The Bermuda Government is working to build stronger relationships with the governments of the Gulf Cooperation Council (GCC). Over the past several months we have executed our GCC strategy that builds on existing successes, and clearly sets out our goals of building stronger economic partnerships and promoting Bermuda as a preferred offshore destination for the members of the GCC to conduct business. This strategy has resulted in an invitation for Bermuda to meet with the Prime Minister of Qatar.”
Premier Cox continued, “Bermuda must continue diversify and expand its reach, therefore it is essential that we develop deeper political and economic ties with these two countries. Deeper ties result in more trade and investment; increased trade and investment results in more opportunities for Bermudian companies and more jobs for Bermudians. That is why this trip is important.”
Over the past two years there have been several developments regarding the GCC. Among these developments are Double Taxation Agreements with Qatar and the Kingdom of Bahrain.
The Premier was in London this past July to meet with GCC representatives to discuss economic diversification and this past September, and the Premier recently co-hosted the 2012 C3 Summit in New York, which examined all aspects of Middle East business and financial opportunities.
Premier Cox concluded, “Bermuda is very well positioned to forge expanded links the countries of the GCC and our discussions during this visit will be focused on growing ties between these countries and the Island.”
The GCC visit concludes on Friday, Oct. 12, 2012.
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