RealTime IT News

Bermuda Launches Initiative To Promote E-Commerce

The Bermuda International Business Association (BIBA) and the Bermuda government in Hamilton launched an initiative to develop electronic commerce on the island.

Bermuda has set the following objectives for its e-commerce initiative:

  • to develop a new sector of Bermuda's economy creating jobs and fueling economic growth.

  • to provide enhanced connectivity for all Bermudians enabling them to overcome geographical constraints and enhance their quality of life.

  • to ensure that Bermudians are trained in information technology to enhance the potential of all individuals to participate in the opportunities of the new digital economy.

"BIBA is very proud and pleased to have been the catalyst for launching and co-coordinating this initiative and a great deal of difficult preparatory work has been accomplished over the past year," said Glenn Titterton, chairman of BIBA. "From the perspective of international business, e-commerce in Bermuda is in fact already happening, albeit via individual companies utilizing our existing technological infrastructure."

"E-commerce has already turned some of the rules of traditional commerce upside down," said The Hon. Grant Gibbons, JP, MP. "There is no longer any compelling reason why businesses in completely disparate parts of the world should not compete for the same customers, especially if they are providers of a service which can be delivered electronically. . . "

The Bermuda International Business Association (BIBA) is a volunteer organization made up of Bermuda companies, providing banking, legal, accounting and management services to the international business industry.