With the sun about to set on the British Embassy in The Bahamas - and eight other countries - the government on Thursday announced its "regret and concern" over the decision.

In a press release, Foreign Affairs Minister Fred Mitchell said that he had communicated the government's feelings on the pending

June, 2005 closure to British High Commissioner Rod Gemmell.

"The (United Kingdom) announcement was made in the context of a financial review by the British in an attempt to effect savings within the larger budget of their Ministry of Foreign Affairs," Mr Mitchell said.

He said the rationale given was that the U.K. needed to reallocate funds to fight terrorism and international crime, in addition to a shift and evolution in Britain's policies toward a more European focus.

"When seen in this context, the Bahamian public can now understand why the Minister of Foreign Affairs has been speaking about the need for The Bahamas to evolve its foreign policy to better suit the world that exists today and has been actively engaged in promoting change in the foreign policy of The Bahamas," the statement read.

The closure was also undesirable in view of an anticipated increased trade in tourism between both countries in the coming year, Mr Mitchell said.

He said that when the House of Assembly convenes in January, a comprehensive statement will be made.

The Bahamas cannot afford to

be left behind in a world of increasing globalisation, the Foreign Affairs Minister said.

Notwithstanding the British decision, Mr Mitchell continued, it was expected that existing "good relations" between the two countries will continue.

In 2005, he assumes the chairmanship of the Council of Foreign Ministers of Caricom, at which time The Bahamas is expected to assume more of a leadership role in the Caribbean, he announced.