Measures taken by the Government in attempts to bring down the island’s high cost of living have included talks with US trade organisations about addressing supply-chain challenges, the House of Assembly heard today.

Alexa Lightbourne, the Minister of Home Affairs, spoke about Bermuda’s involvement in a virtual trade event hosted by the US Department of Agriculture, with more than 60 US businesses taking part.

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The session was moderated by Adam Shanks, the director of the Rockford office of the International Trade Administration at the US Department of Commerce, with presentations by Katherine Woody, the director of the Caribbean Basin Agricultural Trade Office at the US Department of Agriculture’s Foreign Agricultural Service.

Ms Lightbourne said that her ministry sought to address supply-chain dynamics and the implications of import-related costs that affect food prices in Bermuda, and that local representatives made clear during the forum that the island is “open for business”.

She said Ms Woody shared three main focus areas that support US businesses exporting food and agricultural products: the provision of market intelligence, trade policy advocacy to expand and maintain market access for US food and agricultural products, and trade promotion activities.

Ms Lightbourne told the House: “During the session, the US Consul General, Antoinette Hurtado, highlighted the strong economic relationship between the US and Bermuda, acknowledged the US as our largest trading partner and underscored the desire to maintain such ties.

“Businesses were further informed about the market opportunities in Bermuda through presentations from the Bermuda Business Development Agency and my colleague [Jason Hayward] the Minister of Economy and Labour.”

Kendaree Burgess, the BDA managing director, and David Parker, its head of business development, presented Bermuda’s market profile at the event.

They outlined the agency’s role as a “point of connection” and its capacity to identify and advance commercially viable opportunities across sectors.

Ms Lightbourne said that during the forum, she pointed out that wholesalers and retailers said they need new international supply partners to diversify the import market and bring down costs for Bermudian households.

“I outlined the logistics case for Bermuda including direct container shipping from the US East Coast with transit times of two to five days from New Jersey and Florida, supported by reputable port agents, cold chain infrastructure for perishables, less-than-container-load options and a well-defined customs clearance process,” she added.

Ms Lightbourne said that representatives from the USDA and the FAS visited the island to engage directly with the local businesses and regulators of the import sector.

She said: “As a result of the facilitated engagement, invitations to upcoming trade events, free of charge, were offered to Bermuda's market participants.

“This forum and recent visit anchored the value of the work the ministry is advancing on behalf of the people.

“We are affirmed in our direction and no longer accept narratives that tell us that our size makes us powerless and unable to evolve.”

The Affordable Bermuda Agenda, which seeks to address the high cost of living in Bermuda, was tabled in Parliament in November.

• To see the minister’s statement in full, see Related Media