HAMILTON, Bermuda, Jun 12, CMC – The Bermuda government has established the National Economic Cooperation Committee (NECC), which it says is designed to strengthen the island’s economic cooperation with international partners and ensure global partnerships deliver tangible benefits for Bermudians.
“The world is changing rapidly, and Bermuda must be prepared to adapt and compete. The National Economic Cooperation Committee will help ensure that our international partnerships are practical mechanisms that create opportunities for investment, workforce development, innovation, and economic development,” said Economy and Labour Minister Jason Hayward.
The Ministry of Economy and Labour said that the NECC will provide a coordinated and structured approach to managing Bermuda’s growing network of economic cooperation agreements.
It said the committee will oversee the implementation of memoranda of understanding, monitor progress, identify opportunities for collaboration, and ensure that Bermuda’s international economic engagement remains relevant and responsive to a rapidly changing global environment.
The NECC brings together senior representatives from government and Bermuda’s economic development institutions, including the Minister of Economy and Labour as Chair, the Bermuda Business Development Agency, the Bermuda London Office as well as the government’s European Union representative, the island’s Special Representative for the Middle East and Africa and a representative from the Economic Development Department, who will serve as the Committee Secretariat. T
The government said establishing the NECC reflects it commitment to a “clear and confident strategy” for navigating an increasingly complex world.
“As global economic and geopolitical dynamics evolve, Bermuda is taking proactive steps to diversify its international relationships, strengthen economic resilience, and position itself to capitalise on emerging opportunities,” it added.
The authorities say that the NECC supports four key priorities that will shape Bermuda’s future, namely diversifying Bermuda’s global relationships, reinforcing Bermuda’s position as a beacon of stability and certainty, leveraging emerging tourism opportunities in a changing global landscape, and preparing the Bermudian workforce for the future economy.
The NECC will support Bermuda’s efforts to expand economic cooperation across key regions, including the Middle East, Africa, the Caribbean, and North America.
“Recent engagements with the United Arab Emirates, Ghana, Nova Scotia, and Florida, together with Bermuda’s continued pursuit of deeper regional integration through CARICOM, demonstrate the government’s commitment to building a broader and more diverse network of economic partners.”
The government said that the NECC will also reinforce Bermuda’s reputation as a stable, trusted, and forward-looking jurisdiction.
“By maintaining strong international relationships while remaining agile in response to global developments, Bermuda is positioning itself as a beacon of certainty for investors, businesses, and trading partner,” it added.
CMC/ag/ir/2026