Trade Relations between The Bahamas and Haiti
Agriculture is the largest sector of the economy in Haiti. Fisheries and textiles also construct a huge portion of Haiti’s economy as well. As the video on the right demonstrates the lack of proper equipment for the finishing boats, there is still hope the commercial fishing industry to prosper in Haiti.
Outside of the capital, the rural areas are mostly used for agriculture and Haiti has the potential to become a major food provider through growing its products. However, it is important to mention that most of the food consumed in Haiti has been through foreign financial aid, which caused many farmers to lose their jobs, leading to rise of unemployment rate.
In 2014, the government officials of The Bahamas, Turks and Caicos Island, and Republic of Haiti met in Nassau, the capital of the Bahamas, to strengthen their relationship in regards to trade, cooperation, and migration. As a result, The Bahamas and Haiti signed four agreements, which are: Agreement for Bilateral Cooperation, the Agreement on Trade and Technical Cooperation in Agriculture and Fisheries, the Agreement on the Promotion and Protection of Investments, and the Joint Project Cooperation Agreement between the National Port Authority of Haiti and the Port Authority of the Commonwealth of the Bahamas are meant to strengthen the ties between the two countries.
A few years later in 2018, a meeting in National Palace of the Republic of Haiti is held, in which the Prime Minister of the Commonwealth of The Bahamas, and Heads of State and Government of the Caribbean Community gather to follow up the discussions and negotiations in 2014 in regards to the four agreements. As CANA News reports, the two countries meet to negotiate “an agricultural trade deal with Haiti that it hopes would improve trade relations between the two countries as well as put a dent in the illegal migration of Haitians to Nassau” (CANA, 2018), which would benefit both countries in improving their economic status. The details of the meeting include the discussion of “proper road transportation”, “tourism”, as well as exportation of fruits and vegetables from Haiti to The Bahamas. There are some obstacles, such as digital currency, which hinder the implementation of these negotiations.