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A memorandum of understanding was signed between the country and Jamaica on Monday, which is hoped to improve trade between the two nations and resolve trade issues more quickly.
In a media release on Monday, the Ministry of Commerce said Foreign Affairs Minister Dr Amery Browne and Jamaica’s Minister of Foreign Affairs Kamina Johnson Smith signed the memorandum of agreement to establish a trade complaints mechanism that will create a pathway “for quick resolution of commercial complaints”.
At a press conference on Monday at the Diplomatic Centre, St Ann’s, the prime ministers of both countries said the memorandum of understanding would strengthen ties between the nations, with Dr Rowley saying that in the past six years trade relations between the two had gone from a in one. eight on a scale of zero to ten.
In 2016 Rowley was summoned to Jamaica by Prime Minister Holness amid a planned boycott of Trinidad and Tobago goods. Rowley said Monday that the issue was the result of bureaucratic hurdles instigated by those he declined to name. Since then, he said, trade between the two countries had strengthened and would continue to do so.
In addition to trade, the two said bilateral talks included exchanges in culture and sports and discussions on tackling crime. Holness said that when they compared notes, he realized that the two nations, which both gained independence from Britain in 1962, had a lot in common.
As part of a deepening relationship, Holness said Jamaica will invite schools from TT to participate in its sporting events and explore ways Jamaica can benefit from TT’s costume design talents. He said this was part of the vision for Caricom that past leaders like Dr Eric Williams envisioned.
“The Caricom Single Market Economy (CSME) will materialize only when you not only have free movement of goods but also free movement of labor and free movement of capital. This allows for a more efficient allocation of resources and for the expansion of trade opportunities and gives life and meaning to this business of regional integration.”
To combat any further obstacles, Holness said the two countries will legislate ways to allow the free flow of business and labor. He added that there is no reason why companies registered in one country should not be recognized in another in CSME.
In June, the Skilled Citizens of the Caribbean Community (Amendment) Bill, 2022 was passed in the Senate.
Rowley said the agreement is about creating “the biggest possible market for suppliers”, adding that Caricom is stronger together “on every issue and in every aspect”.
Taking part, Holness said that Caricom’s attitude and voice is changing for the better, adding that coming out of the Summit of the Americas it is now clear that there is a need for Caricom to provide food, labor and financial supplies.
The media release said TT and Jamaica trade products worth over $1 billion annually and each has significant investments in the other.
The main objective of the Trade Complaints Mechanism is to provide predictable and transparent procedures and communication channels for the resolution of complaints by allowing exporters a fixed point of contact for their complaints, which will be resolved within 48 days of their receipt.
