Premier Burt Concludes UK & Europe Visit
The Premier and Minister of Finance David Burt returned to Bermuda last night following a “comprehensive and productive visit to the UK and Europe to participate in a key meetings and events aimed at fostering relationships.”
A Government spokesperson said, “The start of this week [Sept. 9] marked the second tier of the Premier’s overseas engagement with a visit to Paris.
Premier’s meeting with the OECD.
“The public will note that Premier Burt departed Bermuda on September 3, and travelled to London, Belgium, France, and Ireland in support of Bermuda’s interests, and to highlight the island’s significant role as a global business jurisdiction.
“During the Premier’s Paris visit he met with tax officials from the OECD to discuss the implementation of Bermuda’s Global Minimum Tax and future working engagement between Bermuda and the OECD. Premier Burt also met with George Stanfield, AXA’s Deputy Group CEO and General Secretary.”
The Premier said, “It was important to touch base with AXA’s global leadership team to discuss the Bermuda market and ensure the Government of Bermuda remains a reliable partner for this well-recognised global brand that supports and creates jobs in our economy.”
Premier’s meeting with the Insurance Ireland.
The Government spokesperson said, “On Tuesday [Sept. 10], the Premier closed out the EU visit with meetings in Ireland.
“There he visited Ireland’s Ministry of Finance for a scheduled meeting with Minister Jack Chambers, TD. However, due to an urgent matter, Minister Chambers was unavailable, and the Premier instead met with Emma Cunningham, Director-General of European and International Affairs, along with other key members of the Ministry’s team. Their discussions covered important topics such as climate change, taxation, insurance, and European relations.”
The Premier also made a courtesy call to Mansion House in Dublin to meet with the Lord Mayor. Of the meeting Premier Burt said, “It was intriguing to hear about the shared challenges between Bermuda and Dublin and to discuss their solutions for housing and urban regeneration. Dublin has done significant work regarding tech enablement and open data, and Bermuda will work with them to see if we can implement similar initiatives on island.”
Premier’s meeting with the Irish Ministry of Finance.
The Government spokesperson said, “Recapping the first week of the visit, the public will recall that the Premier engaged with the UK Foreign Secretary the Rt. Hon. David Lammy and Baroness Scotland, the Commonwealth General Secretary; visited with the Lord Mayor of the City of London, the Hon. Michael Mainelli; and hosted media engagement with the Financial Times.
“While in Brussels, the Premier jointly hosted ABIR’s 17th International Insurance Regulatory Dialogue opening reception and formally celebrated the Bermuda Brussels Office’s 5th Year Anniversary.
“The Premier also engaged with officials from the European Commission, including representatives from the Directorate-General for Financial Stability, Financial Services and Capital Markets [DG FISMA], Directorate-General for Taxation and Customs Union [DG TAXUD], and the EU Council’s Code of Conduct Group to ensure that Bermuda continues to collaborate with our EU partners as Bermuda plays an ever-increasing role in the global economy.”
Premier’s meeting with the Lord Mayor of Ireland.
Following the Brussels leg of the visit, the Premier said, “It was great to meet again with Ambassador Lindsay Croisdale-Appleby and the UK Mission team. I am grateful for the work they have done to support the Government of Bermuda Brussels Office over the last five years. This work ensures that Bermuda’s role in the global economy is understood, which supports our financial services industry and allows for the expansion of jobs for Bermudians. In my final engagement in Brussels, I met with Ambassador Helen Winter, Permanent Representative of Germany to the European Union. With a record number of Bermudians working in the [re]insurance industry today, international engagement like this we help us ensure that the industry can continue to provide more jobs and opportunities for Bermudians in the future.”
Overall, the Premier described the UK / Europe visit as an “incredibly successful and productive” adding, “Our Bermuda delegation was graciously received everywhere we went. Having this opportunity to meet with key officials in London, Brussels, Paris and Ireland cannot be understated. It is vital that Bermuda is present to tell our own story. Our performance and the key role we play in the global market are also a testament to the strength of these partnerships.
“Bermuda is viewed as a special jurisdiction that provides critical services to the global market. Whether addressing climate change, cyber risks, or financial services regulation, Bermuda and the EU share common challenges and goals. The Government of Bermuda will continue nurturing our relationship with the European Union and its Member States which will allow our financial services industry to continue to thrive for the benefit of Bermudians, and we look forward to building upon the partnerships that we’ve fostered in recent days.”
The Government spokesperson said, “The Premier was supported on this visit by the Financial Secretary, Chidozie Ofoego; Kenneth Joaquin, Registrar of Companies; Kimberley Durrant, Director Bermuda Government’s London Office and Aliyyah Ahad, Head of European Affairs & Policy, Brussels Office.”
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Show us the Return on Investment for all the taxpayer dollars spent on meetings that could have been done via video conferencing.
Oh, look, Mr. Big does own a pair of black shoes.