Companies in ABC islands Favor More Mutual Cooperation

More mutual cooperation between the public and private sectors in Aruba, Bonaire and Curaçao (ABC), and a greater involvement of the commercial sector in relevant government policies will ultimately lead to a much stronger basis for the trade sectors in these three islands. The Stichting Economisch Onderzoek (SEO – foundation for economic research) has presented a report indicating that local merchants consider the following as obstacles to a more prosperous development: the labor market way too inflexible, the maritime transport options within the region insufficient, too much red tape to obtain necessary permits, and a lack of competition between the commercial banks. The costs of the local banks are considered much too high, in part due to foreign currency exchange expenses in international business transactions. The government agencies involved, such as those at the airports, harbors and customs are not always evaluated sufficiently. Nevertheless, the ABC islands are still gaining leverage to function as a hub between European and Latin American companies.

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