the Island's future prosperity, Ministers insisted yesterday.

Development and Opportunity Minister Jerome Dill said: "We're talking about a third limb to the economy -- what we're doing now is no less significant than that and we're focussing on electronic commerce as that third limb.'' And he predicted -- alongside international business and tourism -- e-commerce would create "opportunities not just for some people who have a certain level of education, but for all Bermudians.'' Mr. Dill added: "The creation of the right technical and legal structures is something the Ministry of Development and Opportunity is taking very seriously.'' He was speaking as the ruling UBP took another swipe at PLP Finance spokesman Eugene Cox's warning that e-commerce could attract fresh attention from international watchdogs like the Organisation for Economic Cooperation and Development, currently probing Bermuda's tax system to see if it belongs on a blacklist of dodgy financial jurisdictions.

Mr. Dill said: "We took the view that it's absolutely essential to speak to the Bermuda people based on the absolutely extraordinary comments made by the Opposition spokesman of Finance.'' And he claimed Mr. Cox "had difficulty understanding the concept of e-commerce''.

Mr. Dill added that several committees, including ones organised by the Bermuda International Business Association, had been set up to help create a legal framework to allow e-commerce to flourish.

But he said legislation would also be needed to protect businesspeople and consumers from fraudsters.

Education Minister Tim Smith and Mr. Dill added that they were committed to training Bermudians to take advantage of e-commerce as a massive money-spinner for the Island.

Mr. Dill said: "We think that, quite frankly, when you're looking at e-commerce, you're limited by your imagination and that's it.'' Mr. Dill added that countries across the world, including Singapore and Canada, were looking to boost earnings through e-commerce.

And he warned: "Unless we get on with business of developing new business for Bermuda soon, right now, we're going to find ourselves potentially in some difficulty.'' Mr. Smith said the new area of business offered golden opportunities -- especially for young people, who are less likely to be intimidated by new technology.

He added: "E-commerce is absolutely essential for the future of our young people and the future of our entrepreneurs.

"It's bringing the whole world together, whether it's retail business or the selling of a particular product.'' Mr. Dill accepted earlier attempts to set up an Internet-based business arm for Bermuda had not taken off.