Seeing how Bermuda fits into the global economy will be the focus for the Bermuda International Business Association's (BIBA) AGM today.

That is the hope of BIBA chief executive officer Cheryl Packwood, who is welcoming Bill Clinton's former US secretary of commerce and trade representative, Mickey Kantor, to the event, which will be held at the Fairmont Hamilton Princess.

In an exclusive interview with The Royal Gazette, Ms Packwood also talked about the work BIBA has done over the past year and its plans for the future.

"There are a lot of reasons why this should be an interesting speech from Mickey Kantor, because this is an upcoming general election year for the US and the Democratic Party could take the White House after eight years of having the Republicans in office. And so it will be very interesting to hear the Democratic view on what is going on globally in terms of trade and commerce and how Bermuda fits into the grand scheme of things," she said.

"We do play a major role in the global economy and hopefully he can really come full circle and speak to how Bermuda fits into the global arena.

"Mickey Kantor was key in signing and negotiating and concluding treaties, and, in particular the NAFTA (North American Free Trade Agreement) treaty, and bringing the world together.

"How Bermuda can become a part of uniting the world, because we are very much in a world that is unifying and coming together for many reasons, especially when you look at the European Union which has come together on currency policy, trade and restructuring issues.

"I am looking forward to what Mickey Kantor has to say about all these major issues, especially as they relate to trade and currency."

Ms Packwood expects a crowd of more than 270 registered members and non-members on the day, with the Bermuda Monetary Authority (BMA) sending 20 of its management team to the event.

"The support from the membership has been tremendous and is demonstrated through the AGM and includes support from the Bermuda Government, the BMA and the Bermuda Stock Exchange (BSX)," she said.

"Greg Wojciechowski from the BSX has been incredibly supportive and worked with BIBA in promoting Bermuda and on legislative changes."

BIBA will also be launching an international video filmed and made by members and a year end video featuring local events the Association has organised or attended, which will air on television tonight and on Monday on ZBM, and both of which, along with the Association's new brochure, will be available on USB key, Ms Packwood said. Over the past year, BIBA has had its work cut out, jetting off to such exotic locations as Miami and Dubai to spread the message and promote Bermuda as a top international business jurisdiction of choice. The list of destinations on its world tour also include London, Paris, Geneva and even New York.

Among some of the highlights, according to Ms Packwood, have been the BIBA roundtable conferences in New York, where more than 250 delegates heard Finance Minister Paula Cox, BMA CEO Matthew Elderfield and American Consulate General Gregory Slayton giving speeches and in London last March, as well as a reception in Paris, and then, in January this year, in Miami, with approximately 90 attendees in presence.

"It is one success story after another, whether it be big or small and all of our members have had follow-ups and contacts out of each and every briefing that we have done," she said.

"The highlights locally have been the college students networking event which brought them together with the business community.

"They did a 'speed interview' and that was super because that is all what networking is all about - it is about talking to somebody that knows somebody else and introducing you to that person.

"We are hoping to do it again this coming year and have learnt from some of the mistakes where things did not go well, but also we want to build on what went well because you can always make something better."

During the coming year, BIBA is planning to hold a conference in London on March 27, where Mr. Elderfield and Ms Cox will be keynote speakers, followed by a quick flight out to Hong Kong for a briefing and reception held at the Mandarin Oriental on April 3, the first time BIBA has been represented in the region. The month will be rounded off by an excursion to Brazil, with a return to Dubai, Geneva and Miami also on the cards, with some of the recent $2.6 million grant from Government handed out in this year's budget helping to foot the bill. "The Ministry of Finance increased our budget tremendously by almost 25 percent, which is significant, and we want to look at doing an international survey to see how lawyers, accountants and bankers perceive Bermuda," she said.

"We want to look at how much the organisation can be more efficient, so that we can be more effective in our promotional strategies in selling Bermuda as an top international business market.

"We are also working with Government in terms of legislation and initiatives and making sure that Bermuda has the best legislation for a business environment to be attractive for business, but also to balance the need for regulation with the needs on the private sector."

BIBA has been focusing on captives, hedge funds, insurance and reinsurance, as well as the industry's service providers, in recent months, with the Association set to be represented at the upcoming Captive 2008 Conference in June in Bermuda, as well as helping in the process of hedge funds domiciling and registering on the Island, said Ms Packwood. "We have to maintain that market and the work we do in it better and we also have to look at where we can do to develop these areas," she said.

"It has to be where we can speak the language because we made a couple of mistakes in not being able to respond to some queries in Japanese - I have been insistent that we stick to markets where we can manage the language.

"Brazil has just changed its legislation to allow for 20 percent of assets being offshored outside of the country, so that is another place we are looking at promoting the Bermuda message to.

"It is about determining what our products are and what we are doing with them."

Ms Packwood, who took over the reins at BIBA in October 2006, revealed that people's perceptions of Bermuda are different across the world, with some believing it is a dodgy tax haven and others recognising it as a reputable jurisdiction for business.

"Generally, Bermuda has a very good reputation," she said.

"When we went to Dubai, many people did not know of Bermuda or were aware of Bermuda, so part of our going to these conferences was as an educational process," she said.

"On the other hand, I ran into people in Miami who did not know that Bermuda was a reputable jurisdiction and just thought it was a place where you turn up with a suitcase of money.

"But, for the most part, Bermuda has a very strong reputation as a reputable jurisdiction and has got the seal of approval as the number one jurisdiction in the world."

For now, though she just plans to keep Bermuda at the top of the international business tree, promoting the Island as a financial jurisdiction, keeping up the good work with Government on the legislative side and raising local awareness of what the Association does.