Minister of Financial Services Hope Strachan said the establishment of The Bahamas as an arbitration hub is "a huge opportunity" for the jurisdiction. She spoke to Guardian Business yesterday in the margins of the International Centre for the Settlement of Investment Disputes (ICSID) CARICOM 101 Arbitral Practice Training Workshop.

That conference was co-organized by ICSID and the Ministry of Financial Services.

"The ministry sees it as a huge opportunity. It is an untapped resource for The Bahamas that adds value to us as a financial services center," said Strachan.

The minister touted the attributes that The Bahamas has in place to become an arbitration center: proximity to the United States, easy access to travel globally, a thriving democracy, and experienced persons in the banking and legal sectors.

The two-day workshop on Wednesday and Thursday sought to provide further training as it relates to contracts between states and investors.

"ICSID is celebrating their 50th anniversary. One of the planks is to come in the region and hold workshops," said Strachan.

The Bahamas was the first country in the Caribbean region to take advantage of the opportunity.

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