IV
CONFIDENTIAL
maladministration and corruption of the USVI are unlikely to attract the majority of BVI islanders. Complete independence remains the best option for HMG to pursue. With proper regard to the country's political development, independence should be
achievable in 10-12 years.
TURKS AND CAICOS ISLANDS
General
Main Imports
Total Imports (1982/83)
Main Foreign Currency
Earners
Total Foreign Currency
Earnings
Main Industries
UK Aid (1985/86)
Budgetary
Capital
T.C.
-
Foodstuffs, manufactured goods
£26m
- Tourism, lobster, conch, financial
serives
- N/A
Tourism, off-shore companies
£1.7m
- £3.2m
- £0.9m
Economic
1. Because of the poor soil and unpredictable rainfall,
agricultural production is confined to subsistence crops. The principal natural resources of the islands are spiny lobster and
conch, which are mainly exported to the United States. There is however little scope for increasing these areas of activity. Significant growth is likely to be limited to the tourist industry and off-shore investment though the future of TCI as a
tax haven may be restricted in view of its late entry into the
field. On the tourist front the Club Mediterranee opened a holiday village on the island of Providenciales in December 1984
(encouraged by the construction of an international airport
funded by a UK capital aid grant of some £6 million) and it is hoped that the impetus will be maintained by the construction of
a Sheraton Hotel on Providenciales. It had been hoped that a
proposed aragonite project would provide additional revenue but
this appears to have fallen through.
CONFIDENTIAL