delegation to the World Economic Forum.

The 14-strong delegation arrived back on the Island over the weekend proclaiming the meeting, in Switzerland, a success.

They included the Premier, the Hon. Sir John Swan, Finance Minister the Hon.

Dr. David Saul, a number of top businessmen and Dr. Tony Knap, Director of the Bermuda Biological Station for Research.

One of the party, Mr. Raymond E. Moore, director of Jardine Matheson, said that such meetings will be important in years to come.

Mr. Moore said: "It is against the rules to seek direct marketing from this event. If you were obviously looking around to make a $2 million deal you would be thrown off the floor.'' Mr. Moore said that the idea was to make contacts which would become beneficial in the future when businesses needed them or vice versa.

He said he was pleased with the numbers of people who showed an interest in the Bermuda presentation.

The forum, in the city of Davos, was entitled "Rallying All Forces for Global Recovery.'' The Finance Minister said during the week the Bermuda delegation was able to meet people from other countries to find out how they had coped with the world recession and how they were preparing to get out of it.

Dr. Saul said: "It was very well organised and for me, personally, it was a chance to meet people I had met before to discuss any changes they have experienced.

"You can learn a lot from talking to people year after year and comparing experiences as opposed to listening to seminars.

"From a Minister of Finance point of view it is a chance to look at matters in other countries and put them in a Bermudian perspective.'' Dr. Saul said that in the West the recession was now tapering off except in Germany which rode the storm but is now beginning to feel the effects and looks set for a slump.

Concerning the new tax laws which look certain to be introduced into the USA, Dr. Saul said that it was not a major concern. He said that the US were targeting foreign businesses on US soil and not US businesses trading offshore, like those in Bermuda.