Jamaica, US discuss investment and trade issues

JIS

Friday, July 30, 2010

WASHINGTON, DC, USA — The identification of opportunities for investment in Jamaica and trade issues were among the topics discussed when Jamaica's Ambassador to the United States Audrey Marks called on United States Trade Representative Ron Kirk at his downtown Washington, DC offices on Monday.

In a 45-minute high-level meeting, the US Trade official said that based on his understanding, there was full protection of investor rights in Jamaica, and this should augur well for efforts to attract increased levels of investment into Jamaica.

Ambassador Kirk, who is a member of the President Barack Obama's Cabinet, said that the US needed to become more engaged with global partners. He said it was therefore important for the country to pursue new markets and to directly engage with traditional stakeholders and partners, such as Jamaica, "to ensure continued growth and prosperity".

Meanwhile, he praised Prime Minister Bruce Golding's vigorous measures to confront narco-trafficking and the related scourge of crime.

Noting the special relationship between the US and Jamaica, Ambassador Kirk said he looked forward to working closely on issues of common interest.

"Jamaica is seen as a leader in the Caribbean," he said, and expressed appreciation for the efforts of the country to conclude negotiations on the Trade and Investment Framework Agreement (TIFA) between CARICOM and the US.

Welcoming the signal of interest in strengthening trade relations with Jamaica, Ambassador Marks outlined to the US trade representative a number of steps taken by the Government of Jamaica to pursue economic growth, based on managing the fiscal budget by holding deficits within pre-determined parameters and establishing a fixed debt to Gross Domestic Product (GDP) ratio.

"These policies being pursued in partnership with the International Monetary Fund (IMF), have placed Jamaica on a path of sustainable economic and social development," the ambassador told the US official.

Ambassador Marks, who assumed office some two months ago and presented credentials to President Obama on June 28, has been focusing on strengthening Jamaica-US relations, especially in terms of increased investment and trade opportunities, as well as deepening the links between Jamaica and its Diaspora.

Over the past few weeks she has met with members of the US Congress and will continue on Thursday (July 29), with Congressman Elliott Engels, Chairman of the House Sub-committee on Western Affairs.

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Jamaica, US discuss investment and trade issues