The Ministry of Financial Services (MOFS) was established in 2012 and currently has responsibility for International Trade. MOFS also has responsibility for Financial Services, the Standards Bureau, the administration of the Industries Encouragement Act and Local Government. The Trade and Industry Section is headed by a Director who is assisted by six (6) officers dealing with all international trade matters; i.e., the negotiation and implementation of bi-lateral, regional and international trade agreements. The Trade Section is also highly dependent on inputs from other agencies to successfully achieve its mandate. In that regard, it maintains strong relations with relevant Government Ministries and Departments, including The Attorney General’s Office, The Ministry of Finance, The Department of Customs, The Department of Statistics, The Ministry of Agriculture and Marine Resources, The Central Bank of The Bahamas, The Bahamas Investment Authority and The Ministry of Foreign Affairs. The Government of The Bahamas in 2012 signed a $16.5 million loan Agreement with the InterAmerican
Development Bank titled: Trade Sector Support Programme, BH-L1016. Under this loan, project funding has been allocated for Strengthening Customs Management; Modernizing Customs Operations and the Enhancement of the International Trade Institutional Platform. MOFS is responsible for the third component of the loan, Enhancement of the International Trade Institutional Platform.