The Association of Bermuda International Companies has pledged its commitment to working with the new Bermuda Government to protect the island’s reputation as a highly-regarded, well-regulated leading international business jurisdiction.

David Burt, the Premier, and Jamahl Simmons, Minister of Economic Development and Tourism met with Abic representatives, including Patrick Tannock, the chairman.

Afterwards, Mr Tannock said: “It was a very positive meeting. We congratulated Premier Burt and Minister Simmons on the PLP’s victory in the General Election.

“In addition, we let them know that we are thoroughly committed to working with them and all members of government, unions and other stakeholders to promote a sound business environment for international business and Bermuda in general to ensure that this island remains the business domicile of choice.

“These are tough times. Bermuda faces a number of external challenges in tax and regulation that require consistent collaboration between business and government.

“To remain attractive, relevant and respected as a leading business jurisdiction we must comply with international regulatory, financing and tax co-operation standards. Abic is committed to working with government and supporting the efforts to address these threats.”