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Cayman Islands Premier heads delegation to Bermuda and reaffirms position on beneficial ownership

20150723_110636Premier Hon. Alden McLaughlin traveled this week with a delegation to Bermuda for a pre-Joint Ministerial Council meeting.

The pre-meeting takes place 22-24 July and will be chaired by Bermuda Premier Hon. Michael Dunkley.

The meeting is an opportunity for all Overseas Territories Heads of Government to exchange views on political and constitutional issues, especially as they relate to the United Kingdom and its relationship with OTs. Heads of Government from the British Virgin Islands, Turks and Caicos, Monserrat, Cayman Islands and Bermuda are expected to attend. Representatives from Ascension Island, Tristan da Cunha, St. Helena and Pitcairn will respond remotely.

“We meet each year ahead of the Joint Ministerial Council, which will be held later this year, to discuss the many areas in which we can work together. It is an important gathering because the Overseas Territories are diverse,” said Mr. McLaughlin. “Through this meeting we will come to a consensus on the way forward to strengthen our collective position at the full JMC meeting.”

Areas of focus at this week’s meetings will centre on social and economic development, financial services, environmental and security matters and the relationship between the OTs and the UK.

The Cayman Islands hosted last year’s pre-JMC.

Travelling with Mr. McLaughlin was Cabinet Secretary Samuel Rose, Sherpa Jason Webster, Councillor Roy McTaggart and Senior Political Advisor Roy Tatum.

Premier at Pre-JMC:

GRAND CAYMAN, Cayman Islands – The annual pre-JMC meeting began this morning (the 23) in Bermuda with Premier Hon. Alden McLaughlin re-affirming to his fellow Overseas Heads of Government the Cayman Islands’ position on the issue of beneficial ownership.

During contributions to the discussion, Premier McLaughlin noted that while the recent elections in the UK have brought some relief from the pressure being exerted on OT’s regarding a Central Register of Beneficial Ownership of legal entities, Cayman remains committed to working with the UK to build an alternative but equally effective framework that will provide UK law enforcement, tax and regulatory authorities with appropriate access. He also noted that recent discussions in the UK Parliament indicated the UK’s acceptance of this approach.

The Premier also provided colleagues with an update on airport re-development and cruise berthing during discussions on infrastructure projects. Other matters regarding banking, health, and infrastructure development and funding were discussed.

The morning ended with OT Heads of Government joining their host, Premier Hon. Michael Dunkley of Bermuda, for a briefing with local media. Pre-JMC continues through Friday, 25th July.

IMAGE: To Cayman Islands Premier Hon. Alden McLaughlin’s left is host Premier of Bermuda, Premier of BVI, Minister of Social Development Anguilla, and Premier of TCI. To our Premier’s right is the Deputy Premier of Montserrat, MLA from Falkland, and finally Chief Secretary of Gibraltar.

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