3rd Caribbean conference on the international financial services sector

The Caribbean engaging the world in financial services

Nassau, the Bahamas

The Honourable L. Ryan Pinder

Minister of Financial Services,

Commonwealth of The Bahamas

“Welcome Remarks”

Introduction

The Right Honourable Perry Gladstone Christie, Prime Minister of the Bahamas

Dr. The Honourable Baldwin Spencer, Prime Minister of Antigua and Barbuda

The Honourable Philip Brave Davis, Deputy Prime Minister of the Bahamas

The Honourable Levi Peter, Attorney General of the Commonwealth of Dominica

The Honourable Donville Inniss, Minster in the Government of Barbados

My Bahamas Cabinet Colleagues

Ambassador Paola Amadei, Ambassador of the European Union for Jamaica, Belize, The Bahamas, Overseas Countries and Territories of the Turks and Caicos and the Cayman Islands

Ambassador Mikael Barford and Mrs. Barford, Ambassador of the European Union for Barbados and the Eastern Caribbean

Distinguished Ambassadors

Heads of Regional Regulatory Bodies

Distinguished Delegates

Distinguished Ladies and Gentlemen

Good morning, my name is Ryan Pinder and I am the Minister for Financial Services in the Government of the Bahamas. I want to again welcome each and every one of you to this 3rd Caribbean Conference on the International Financial Services Sector. We are pleased here in the Bahamas to be the host country.

This regional financial services industry, we have technical experts from the United States, European Union and throughout the Caribbean region to speak on the advancement of this all important industry where we have the opportunity to engage not only the private sector, but also on a multilateral, and on a bilateral basis with representatives from regional country governments and regulators.

In October, 2012, when I had the privilege of bringing remarks to the 2nd Financial Services Conference, the theme was Competitiveness and Innovation. Today’s theme is “The Caribbean Engaging the World in Financial Services.” The two themes are interconnected, you have to have competitiveness and innovation in products and services in order to effectively engage the world, to take an international industry of financial services to the world. It is through this conference here in the Bahamas where we seek to understand the effects of international initiatives on our industry as a region, and then understanding what it will take for us to successfully take our products and services to international markets.

We have a tremendous opportunity to move the region forward, to learn from international experts who will speak to us over the course of the next few days, and to then chart a strategy, a way forward based upon recognized challenges and clear opportunities. We cannot be naïve, we cannot have a false sense of confidence. We must be honest with ourselves, work on areas that need improvement, highlight our strengths, and recognize opportunities. The experts are here, we should all as a region learn and empower ourselves.

I want to personally thank the representatives from the European Union for their support with this symposium, for their attendance and participation, and for the continued partnership between our region and Europe. It is through this partnership between the Caribbean region and the European Union that encourages regional integration and economic development in areas such as what we speak about today, financial services.

I want to thank Cariforum and the Caribbean Export Development Agency for their support in organizing this event. I personally want to commend all of my Financial Services team in the Ministry of Financial Services, especially the leader of the team, my Director of Financial Services, Dr. Nicola Virgill-Rolle for such a spectacular job of organizing this symposium and coordinating all matters relating to the event.

I view this event as a historic event for financial services in the region, addressing a topic that is of utmost importance. Thank you all for being an important part of this event.