Bermuda must remain vigilant in e-commerce
Bermuda played a starring role in an offshore electronic commerce conference held in Miami this week -- but the Island must remain vigilant to continue as a leader in the field.
The conference, sponsored by First Atlantic Commerce (Bermuda) and organised by International Business Communications (IBC), is being held at the Fontainebleau Hilton on Miami Beach.
A host of more than 230 international delegates attended the conference, representing companies and organisations such as PricewaterhouseCoopers, Curacao Chamber of Commerce & Industry, Aryval.com and Visa International.
The conference opened on Tuesday with a primer workshop chaired by First Atlantic Commerce president Gregory Vasic, which provided practical, hands-on information for delegates new to the field of e-commerce.
Appleby Spurling & Kempe partner Warren Cabral will speak on a panel discussing the impact of e-commerce regulations in offshore jurisdictions at the close of the conference this afternoon.
Cable & Wireless, Bermuda general manager Eddie Saints, who served as conference chair, said this conference was an improvement on the first one held in New York last September.
"This conference enables delegates to get updates on key issues facing e-business since the last conference -- areas such intellectual property, security, and risk management,'' he said.
"The secretary of the UN Commission on International Trade Laws (Gerold Herrmann) gave a speech which gave us up-to-date perspectives on international trade laws being implemented by business being done over the Internet.
Mr. Saints said this conference had broader representation from other jurisdictions than the first conference.
"There are representatives from Anguilla, Cayman Islands, BVI (British Virgin Islands), Turks and Caicos who are very much involved in being part of this quickly developing field -- and that's healthy for all of us, it's a great opportunity for networking,'' said Mr. Saints.
He noted that Bermuda's continued success as a leader in e-business can be attributed to the Island's strong infrastructure and organisation.
"We have the right legislative approach, legal and tax structure, and intellectual capital -- we have all the key components to put us into another sphere of competativeness,'' he noted.
Bermuda International Business Association (BIBA) marketing manager Ross Webber said althoug there were no new initiatives launched at the conference, it was helpful for staying abreast of trends in e-commerce.
Bermuda must remain vigilant "One of the issues raised at the conference about e-commerce was the high cost of telecommuncations offshore -- it's an issue that all offshore jurisdictions need to address,'' said Mr. Webber.
And he noted that although other jurisdictions are modelling their policies and legislation after Bermuda's example, Bermuda needs to stay on the cutting edge.
"Other jurisdictions like Anguilla and Curacao are setting the wheels in motion to put themselves where Bermuda already is -- but Bermuda has to remain vigilant,'' he said.
"We're proven as pioneers with expertise and experience. We're further along the learning curve, and that's our leveraging factor.
"For example, Curacao highlighted their e-commerce park which they're planning to have available in the spring of 2000... but Bermuda can give concrete information about what we have already done,'' he added.
