Finance Minister Eugene Cox hammered home Bermuda's tough financial regulation at a meeting of world movers and shakers in Switzerland, it was revealed yesterday.

He also said e-commerce was the "buzz word'' at the forum -- highlighting the need for countries to keep abreast of latest technology.

Mr. Cox -- just back from the World Economic Forum in the European country -- said he met top officials from the Organisation for Economic Cooperation and Development at the conference. And the Minister said: "We had a chance to talk about what kind of place Bermuda is and we got the opportunity to clue them in as to what type of jurisdiction this is.

"People do have a tendency to think we are a Caribbean country and ascribe to us things which happen in other places.'' But Mr. Cox -- in his first interview since his return from the Davos conference -- was hedging his bets on whether the representatives from the Paris-based organisation had taken Bermuda's pitch on board.

He said: "I would say it was more like information-gathering and I welcomed the opportunity to explain what Bermuda stands for.'' The 29-member OECD -- which includes the UK and US -- announced nearly two years ago that it was to probe "harmful tax jurisdictions'' -- and said it was looking at more than 30 countries, including Bermuda.

The OECD is expected to reveal the results of its investigation later this year -- and to publish a "hitlist'' of dodgy jurisdictions. Mr. Cox added that pensions -- an area where Bermuda has just introduced a national, mandatory scheme, had also come under the spotlight.

And he said the Bermuda blueprint stood up very well against proposals in other jurisdictions.

Mr. Cox added that an increasingly elderly population combined with a falling birthrate meant most countries were worried about the cost of pension provision and parts of the WEF meeting were devoted to the issue.

He said: "The presentations being made were rather interesting because I thought we compared rather well.'' Mr. Cox explained some countries were looking at basing pension payments on an average income taken over 30 years -- while Bermuda was taking its cue on an average of no more than the final five years.

He said: "That could make a very big difference to people in the future as they prepare for retirement.'' Mr. Cox added that the globalisation of the world economy through increasing use of high-technology tied in with concerns over educating populations to fit in with the new wave -- and leading productive working lives, leading to proper pension provision at the end.

He said: "We have got to keep up to date and Bermuda is well-placed to do that.

"We have recognised we need education -- not just lip service -- and that we've got to make sure all our people are qualified.

"And that goes back to pensions -- everybody must be able to maximise their income when they're able to work. It's really a forced savings scheme, you might say, so that when people retire they will have the money to address their needs.'' Mr. Cox added that the general tone of the WEF meeting in Davos was hopeful -- especially in terms of the booming US economy, optimistic signs in Europe and a quicker-than-expected recovery from recession in the industrialised Far East nations.

He said: "That suggests that the World Bank and International Monetary Fund, when faced with situations like the Japanese crisis, are doing the right things.'' And he warned -- as the world economy changes through new technology -- fresh problems unthought of previously would crop up. Mr. Cox said: "You have to remain flexible in your approaches so you can address problems, even though they might be entirely new.

"But, rather than being cause for concern, it gave me great hope we're doing the right things in terms of the economy, banking, tourism and international business.

"In all of these things, we're almost on the cutting edge in terms of our thinking. We have the right approach -- we just have to work at making it successful.

"And we must make sure our young people are educated and trained and reaching the point where they want to learn -- because they must so they can benefit from these economic changes.'' Mr. Cox added: "The buzz word was e-commerce and countries which don't get involved in e-business will probably find themselves not keeping up with other countries.

"From the 90s, we've been talking about globalisation and basically, we're certainly heading in the right direction. As long as we keep embracing technology, not fighting it, we will be well-positioned.'' Eugene Cox