The Nassau Guardian has reported that Dr. Christian Alfred Hausmann, new German Ambassador to the Commonwealth of The Bahamas, has praised the concrete steps taken towards regulating its financial services sector by the nation — as well as the constructive dialogue ensuing between the Government of The Bahamas and the OECD and its member countries. The remarks came on the occasion of the presentation of his credentials to Governor General Sir Orville Turnquest, with Amb. Hausmann also commenting that the German Government believes tighter regulation and greater transparency are in the interest of both the industrialised nations and financial services centres in the Caribbean.
The Governor General indicated that the Bahamas Government encourages German interest in vital areas of the economy other than trade, including ship registration and financial services. He confirmed that The Bahamas has been a strong advocate for multilateralism and constructive dialogue, towards cooperative understandings on concepts such as harmful tax competition as advanced by the OECD, of which Germany is a member.