"It is important to evaluate what these agreements mean to Bermuda,'' said the Bank of Butterfield's president and CEO Mr. Collier. "I have concerns about saying yes to agreements that could mean opening our doors to foreign businesses.'' Recent debate about the issue of independence has focused on the advantages of Bermuda participating in international trade agreements, like the North American Free Trade Agreement.

Bank of Bermuda president Mr. Donald Lines said in an interview yesterday that "Bermuda must make provisions for its inclusion in an ever changing world''.

"It is not so much the advantages of joining NAFTA, as much as the possibility of Bermuda and its service industries being excluded which we must take into account,'' he said.

"We must look ahead, and negotiate our role early, but I am not necessarily suggesting that we join NAFTA. Independence may be the final solution, if Bermuda failed to successfully negotiate a role in the new world order.

"It is unlikely that Britain as a member of the European Community can negotiate a special position in the NAFTA zone for a dependent territory, but that doesn't mean that Britain can't help us,'' he said.

Mr. Collier said the problem with some of the new agreements is that they fail to allow flexibility.

"I am against NAFTA,'' said Mr. Collier. "There are conditions within the agreement that are not suitable for Bermuda, such as immigration, housing, trade, and the lifting of restrictions on foreign business activities.'' "That doesn't mean that we shouldn't look at other legislation in other jurisdictions to see whether there are new opportunities for Bermuda, and what conditions are being imposed,'' he added.

"What we really need to do is to expand our international business, which is not labour intensive, and generate new cash flow.

"The business world is changing very fast. Bermuda has got to monitor change, and keep on top in the long term.'' PHOTO Mr. Donald Lines Mr. Michael Collier.