The study, ordered by the Premier's Commission on Competitiveness, was about all that was still needed to complete the Commission's report, steering committee chairman Mr. Mansfield (Jim) Brock said.

Mr. Brock wanted the report of his Commission in the hands of Premier the Hon.

Sir John Swan by the end of the month.

The protectionism report was being prepared by two Sloan Fellows from the Sloan School of Business at the University of London, Mr. Brock told The Royal Gazette .

The study would look at the interest rate ceiling, exchange control, and foreign ownership restrictions, among other matters.

The Commission's report is expected to urge the Premier to cut red tape hampering Bermuda's competitive spirit.

Such action would clear the way for more visitors to shop here unhampered by rules and regulations, it is claimed. And it would allow Bermuda to become a centre for international sporting tournaments.

Three teams make up the commission. One examining tourism is headed by banker Mr. James Masters. Another led by accountant Mr. Richard Butterfield is reviewing the international business sector. And the third team, spearheaded by lawyer Mr. John Collis, is looking at future opportunities.

Earlier, Mr. Collis said his team would come up with long-term ideas for boosting Bermuda's future.

One proposal was to remove some of the bureaucratic obstacles to shopping in Bermuda.

"We need to look at ways we can encourage more spending here by tourists,'' Mr. Collis said.

The report may lead to changes in "policies, laws, and practices'' -- although nothing concrete had been agreed.

Mr. Collis said his team had been examining how Bermuda's "taxation structure'' could be made more appealing to visitors.

But this did not necessarily mean tax breaks -- such as customs duty reductions, he added.

Mr. Collis said removing red tape would be crucial to another idea -- to turn Bermuda into a major venue for sporting tournaments.

Ways of "streamlining the whole process'' of laying on international events needed to be reviewed, he added. This could involve easing immigration and customs restrictions.

Mr. Collis said "aqua-culture'' -- such as fish farming -- was another proposal which would be put forward by his team. Such a move could prove to be a money-spinner.

Mr. Butterfield said his team was "making progress'' on examining ways of enhancing international business.

A major triumph this year was Parliamentary approval for moves to turn Bermuda into a venue for international arbitration.