Trade talks with U.S. suppliers part of Affordable Bermuda plan to address cost of living
The Government says tackling the cost of living will take time but steps are being taken to help reduce the burden on residents.
Home Affairs Minister Alexa Lightbourne updated Parliament today on the progress of the Affordable Bermuda Agenda, including efforts to bring more international food suppliers into the local market.
The ministry has partnered with the U.S. Consulate General to connect Bermudian businesses with American suppliers.
More than 60 U.S. companies recently took part in a virtual trade event exploring opportunities to supply the island.
Minister Lightbourne said: “The response from the United States businesses participating in the virtual trade event was notably positive and constructive. The Ministry believes that change is possible and affordability can be a reality.”
Minister Lightbourne continued: “The Ministry accepts its role in project management and facilitating new relationships in aide of our mandate. We affirm the road to systematically address cost in Bermuda will not happen overnight, but we are resourceful, and we hold an unwavering focus to deliver.”
Representatives from the U.S. Department of Agriculture were also in Bermuda this week meeting with local businesses and import regulators.
Minister Lightbourne said, as a result of the meeting, they committed to future engagements to remove barriers for suppliers and invitations to upcoming trade events were offered to Bermuda’s market participants free of charge.
She added: “We are modernising our import processes, seeking to strengthen local competition, and removing the barriers that have kept potential new suppliers away. In short, Mr. Speaker, we took the concerns raised by the public and the private sector identified the challenges, and this Government built a bridge.”
“We are affirmed in our direction and no longer accept narratives that tell us that our size makes us powerless and unable to evolve.”
You can read the Minister’s full remarks below.
