Premier Cox addresses –EU committee
Bermuda is “a co-operative and transparent jurisdiction”, Premier Paula Cox has told members of the European Parliament.Ms Cox was yesterday invited to address the meeting of the Economic Committee of the European Members of Parliament in Brussels.With economic concerns foremost, Ms Cox said: “There is common ground between Bermuda and Europe.”Calling the Island “a quality jurisdiction for financial services”, she added: “We believe in transparency, quality risk-based supervision and collaboration and cooperation with our key trading partners in the EU and the US.”She noted that, as the recent host of the 2011 meeting of the Organisation for Economic Cooperation and Development, “Bermuda was among its peers and firmly stood on its sound regulatory platform”.Ms Cox answered questions on the differences between offshore and onshore financial centres, and said the Island’s supervisory regime for captive companies was already adequate for “the limited purpose and risks written by those entities”.Today Ms Cox is to unveil a plaque dedicated to freed slave Mary Prince, at the School of Oriental and African Studies of the University of London. She will also sign Bermuda’s 25th Tax Information Exchange Agreement with the Republic of Indonesia.