NASSAU, BAHAMAS – The Bahamas and Canada’s trade relationship is good, but “it can be even better, stronger, larger,” said a senior Canadian diplomat, highlighting Canadian expertise in sectors like agri-food, clean energy, fintech, and tourism, where collaboration can drive mutual growth and prosperity.
Mark Berman, High Commissioner of Canada to Jamaica and The Bahamas, speaking at The Bahamas-Canada Innovation Trade Mission at The Baha Mar Convention Centre, noted that Canada and the Caribbean have long shared strong people-to-people ties.
“Caribbean nationals form one of the largest diaspora communities in Canada, and the Bahamas receives thousands of Canadian tourists every year. This mission marks a milestone in the growing economic relationship between Canada and the Bahamas, with Canada being the second-largest trading partner, as noted earlier. Canada is a key regional partner, and our shared commitment to trade, investment, and innovation continues to deepen our ties. Our trade relationship is good, but it can be better, stronger, and larger,” said Berman.
He noted that the trade mission will provide a platform for business leaders from 18 Canadian companies to engage with Bahamian counterparts, exploring new opportunities and forging lasting partnerships.
“Canadian businesses bring world-class expertise in key sectors such as agri-food, agri-tech, clean energy, fintech, tourism, hospitality, and academic partnerships—areas where collaboration can drive growth and prosperity for both nations. Canada continues to be committed to working with The Bahamas and providing assistance to the wider Caribbean region. We seek to work on climate-smart, long-term solutions to Caribbean vulnerabilities, which are a matter close to my heart,” said Berman.
He further noted that the trade mission is a step forward in strengthening the Bahamas-Canada relationship and unlocking new opportunities for mutual prosperity.
Economic Affairs Minister Michael Halkitis noted that the trade mission serves as a unique opportunity for Bahamian innovators, entrepreneurs, and business leaders to come together, share ideas, and forge new synergies that will drive economic growth and create sustainable solutions.
“Canada and the Caribbean share a trading relationship that dates back to the 18th century. Canada exported lumber and salted fish to the region and imported rum and spices. It is also worth noting that the trade growth supported Canadian financial institutions like the Royal Bank of Canada and Scotiabank, which established a strong presence in the region,” said Halkitis.
Halkitis noted that it has been nearly 40 years since the signing of the CARIBCAN Agreement, which has supported the export of seafood and salt from The Bahamas into Canada. Despite early growth, trade between Canada and the Bahamas has been declining, changing in the post-COVID world.
According to Halkitis, trade statistics indicate that Canada is the Bahamas’ sixth most important trading partner concerning imports.
Timothy Ingram, Chairman of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), noted that with its rich cultural heritage, strategic location, and thriving economy, The Bahamas offers a unique environment for investment, with an open door for foreign investment.
“We are confident that these interactions will not only open doors to new markets and ventures but also deepen understanding and respect for the people and businesses of The Bahamas. Of course, we are keen to learn about opportunities that may exist in Canada and the Canadian community as well. With a vibrant and significant community in Canada, there are great opportunities for outbound investment by Bahamian businesses,” said Ingram.
