Hylton wants fairer trade treaties

Paul Allen Business reporter allenp@jamaicaobserver.com

Wednesday, January 25, 2012

Jamaica is not getting its fair share of regional trade, said Anthony Hylton, the Minister for Industry, Investment and Commerce, in an unexpected criticism of the island's CARICOM partners yesterday.

Actions must be taken to ensure that the existing arrangements benefit Jamaican consumers as they are intended, Hylton said, noting that regional trade agreements have been challenged recently.

"This government intends to ensure that the treaties we have signed with our CARICOM brothers and sisters assume the balance and equity upon which they were founded, he said at the launch of Expo Jamaica 2012 at the Wyndham hotel in New Kingston.

"Our objective is to ensure that the benefits and the burdens associated with regional trade are equitably shared by all the nations in the region. I will say more about this in short order, at an appropriate time."

Acknowledging that "times are hard', the minister said the Government is seeking to deepen and widen regional commercial linkages through co-operation.

He also called for the country to produce and export more to create jobs.

Businesses should "deepen their participation in national growth efforts. Every sector must be accountable to each other and the nation for its role in growing Jamaica," Hylton said. "All sectors have a "responsibility to join in the efforts that move us towards growth and development."

Jamaica's exports totalled US$1.1 billion ($95 billion) for the first eight months of last year, well off the US$4.3 billion imported in the same period, according to the Statistical Institute of Jamaica.

"It is for this reason that I endorse the Prime Minister's call on every business to make the effort to employ one additional person in the short term. Such a move will have a ripple effect across this nation that will redound to the benefit to our people and ultimately, to our businesses. By employing one additional person we stimulate the demand of entire families for our products and services."

Expo Jamaica is staged every other year and is aimed at bringing local and international buyers together with the intent of creating trade relationships between them and local producers.

"Support local manufacturers and don't be held captive by the thought that foreign is superior", said Brian Pengelley, president of the Jamaica Manufacturers Association.

Manufacturing is the pillar on which the nation will stand or fall, he said noting "Jamaica is ready and open for business".

Also present at the launch was Edward Gabbidon, LIME's vice president of corporate sales, who announced that the telecommunications company is donating $3.5 million to the expo.

Expo Jamaica 2012 is put on by the JMA and Jamaica Exporters Association and will be staged at the National Arena from April 26 to 29.