China in $2 bil. deal proposal Govt eyes agri-fishery plan with Chinese in Andros - Project calls for lease of 10,000 acres of Crown land. CANDIA DAMES Managing Editor - Nassau Gardian Published: Nov 01, 2016 The government of The Bahamas has given the green light to its embassy in Beijing, China, to further pursue a possible agriculture and fisheries partnership with the Chinese that promises to pump $2.1 billion into the Bahamian economy over 10 years, The Nassau Guardian can confirm. This would be an equal partnership between Bahamians and the People's Republic of China or its substantial representatives. According to the proposal, the initiative will entail the incorporation of 100 Bahamian companies under the Companies Act of 1992 and each of the 100 companies will be owned 50-50 by both China and by Bahamians or Bahamian entities. The initiative would see China or its substantive representatives contributing to the 100 participating companies the $2.1 billion in cash (for working capital), agricultural and farming equipment as well as skilled expertise. If the proposal is approved, the Bahamas government would lease with an option to renew the lease for additional years, to all 100 companies 10,000 acres of Crown land in Andros. Lease options will be available to each company for an additional 100 acres, provided certain clearly defined performance benchmarks are achieved. The Bahamas government would also grant to each of the companies fishing licenses consistent with existing Bahamian laws. The proposal states: "While realization of a reasonable return on an investment in agriculture is a relatively slow process, requiring substantial capitalization over many years, participating companies in the initiative will within months of commencement of operations realize positive cash flow from the sale of seafood. "It is anticipated that the agricultural products and the seafood will be used either for local consumption or will be exported to China or the U.S.A. for sale. The management of participating companies will resolve to do what is in their best interest." The initiative hopes to qualify for funding under a regional program of the Chinese government, which has budgeted $35 billion for such initiatives. Two Bahamian companies will come together in a 50-50 ownership structure to incorporate, and equally own, yet another company that will "participate" in the proposed China-Bahamas Agriculture and Fisheries Initiative, the proposal says. The proposal states that each Chinese owned joint venture company will be the vehicle that transfers the specified equivalent (i.e. $2.1 billion) of cash, agriculture and fisheries equipment as well as skilled expertise to the participating company on an annual basis, and over a 10-year period. The government believes that the initiative "could be a very impactful project that economically benefits hundreds of Bahamian families for decades, provided that the level of investment sought is viewed by the Chinese government as acceptable". The government has said no foreigner will be allowed to physically fish in Bahamian waters by himself or in partnership with others, and therefore only Bahamians would be allowed on the fishing vessels. Under current government policy, foreigners may own and may participate in the ownership of related land-based activities, such as processing and packaging houses for agriculture and fishing products. __________________________________________________________________ However, Butler-Turner won't support foreign ownership of any fishing industry ROYSTON JONES JR. Staff reporter - Nassau Gardian Published: Nov 02, 2016 Though she acknowledged the need to boost agricultural development in The Bahamas to improve food security, Long Island MP Loretta Butler-Turner said she will "strenuously object" to any foreign ownership, including joint-ownership, of The Bahamas' fisheries industry. The Nassau Guardian yesterday revealed that the government of The Bahamas gave its embassy in Beijing, China, the go ahead to further pursue a $2.1 billion agriculture and fisheries partnership with China that would call for the lease of 10,000 acres of Crown land in Andros. "It has been a longstanding practice of previous governments to ensure that fisheries remain fully Bahamian-owned in order to preserve our way of life and the livelihoods of Bahamians in the fishing industry," Butler-Turner said in a statement. "I will strenuously object to any foreign ownership, including joint-ownership, of our fisheries industry "The previous Christie administration has a checkered history of inviting foreign interests to exploit Bahamian fisheries. "This includes the Korean boat scandal. "Any attempt to allow foreign ownership of our fisheries industry will be met with fierce resistance from the Bahamian people. "There must be absolutely no foreign ownership of our fisheries industry or resources. "We must not allow others to induce us to overfish our waters. This is non-negotiable." The proposal will entail the incorporation of 100 Bahamian companies under the Companies Act of 1992 and each of the companies will be owned 50-50 by both China and by Bahamians or Bahamian entities. According to the proposal, the initiative would see China or its substantive representatives contributing to the 100 participating companies the $2.1 billion in cash (for working capital), agricultural and farming equipment as well as skilled expertise. If approved, the Bahamian government would lease with an option to renew the lease for additional years, to all 100 companies 10,000 acres of Crown land in Andros. Lease options will be available to each company for an additional 100 acres, providing certain clearly defined performance benchmarks are achieved. The Bahamas government would also grant to each of the companies fishing licenses consistent with existing Bahamian laws. Butler-Turner called on the full release of the proposal in Parliament, so that it may be reviewed and debated in a "rational and deliberate manner". "Transparency and accountability are imperative," Butler-Turner said. "The review of such a proposal must include discussions about the prevention of corruption. "This matter should be carefully reviewed and not rushed. "Any attempt to rush through this matter without public and parliamentary debate will raise serious questions about the integrity of the process and the proposal. "The involvement of the Bahamas government in the formulation and details of the proposal should be made public. "Further, where are we in the process of negotiating the proposal?" Pointing to The Bahamas' limited fisheries resources, Butler-Turner said any development on Andros must protect existing land and marine parks. She said The Bahamas needs resources, capital and expertise in developing agriculture and proposals that meet the requirements and needs of the country, and that are in the best interest of the Bahamian people, should be considered on merit. Yesterday, Minister of Agriculture V. Alfred Gray told the media that while the government has not approved the project, it is a much needed discussion that can propel the agriculture industry in The Bahamas. In a statement hours later, he refuted The Nassau Guardian's article, which outlined the proposal, calling it "utterly false". "The government is not considering the grant of Crown land nor any other matter as set out in the article," Gray said.

Talks to sell China fishing rights in Bahamas alarm Florida By Jim Turner - News Service of Florida Wednesday, Nov. 16, 2016 Florida wildlife officials expressed concern Wednesday that the government of the Bahamas is in talks with China to split fishing rights in waters east of Florida. State Fish and Wildlife Conservation Commission Executive Director Nick Wiley said the potential deal, as reported, could impact Florida’s commercial and sport-fishing industries. “China, their interests in this, would get exclusive access to fisheries in Bahamian waters,” Wiley said. “A lot of people may not realize this, but the boundary between the United States waters and Bahamian waters is still in dispute. It’s still not been clarified, so that further makes this an issue.” The government of the Bahamas hasn’t released details of the negotiations. The Nassau Guardian newspaper has reported that the government of the Bahamas has given the green light to its embassy in Beijing to pursue agricultural and fishing partnerships with China. The proposal reportedly could bring $2.1 billion in cash, along with agricultural and farming equipment, into the Bahamian economy, over 10 years. The proposal by the Bahamian government, according to the Guardian, states: “While realization of a reasonable return on an investment in agriculture is a relatively slow process, requiring substantial capitalization over many years, participating companies in the initiative will within months of commencement of operations realize positive cash flow from the sale of seafood.” Under the reported terms of the deal, the government would lease to 100 companies — each jointly owned by Chinese and Bahamians shareholders — 10,000 acres in Andros Island, along with fishing licenses. “It is anticipated that the agricultural products and the seafood will be used either for local consumption or will be exported to China or the U.S.A. for sale,” the proposal says. “The management of participating companies will resolve to do what is in their best interest.” Commercial fishing for conch, lobster, snapper and grouper are mainstays of the Andros Island’s economy. However, the indication is that the Chinese firms want to target dolphin, kingfish, marlin, tuna and wahoo. Wiley said the Fish and Wildlife Conservation Commission has reached out to the government of the Bahamas for additional details. “It’s something we really need to figure out what is going on. We really don’t understand it yet,” said Commissioner Robert Spottswood, the president of a Key West real-estate development company. “But the potential impact for us in the Keys, in Florida and for the U.S., of the Chinese government getting involved in fishing in the Bahamas could certainly affect the balance of what is going on in fisheries in South Florida.”