It is a pleasure to be associated once again with this year’s Customs Week celebrations under the theme: “Digital Customs – Progressive Engagement.” The last twelve months has brought about a renewed focus at the Jamaica Customs Agency to streamline various mechanisms to ensure more efficiency and effectiveness in its engagement with stakeholders.

Jamaica’s macro-economic environment continues to show positive results. The Jamaica Stock Exchange, for example, has received the accolade as the top performing Stock Market in the world for 2015, and the PetroCaribe Buyback transaction which was part of the Government of Jamaica’s issuance of a US$2.0Bn dual-tranche bond in the international capital market was rated the ‘Bond Deal of the Year’ by the International Financial Review.

It is also the case that the country has successfully completed the tenth review by the International Monetary Fund (IMF) under the four-year Extended Fund Facility. In the past twelve months, STATIN confirmed that the economy grew by 1.5% in the third quarter of 2015, and our unemployment has declined from 14.2% in January 2012 to 13.1% as at July 2015.

The country has also continued to do better-than-expected in the main fiscal and monetary targets under the Economic Report Programme (ERP). The primary surplus target, for example, was surpassed by $5.3Bn over the budgeted amount, and the Net International Reserves (NIR) is US$800Mn ahead of the programmed target for 2015, bringing the Reserves to US$2.44Bn. Tax on interest outperformed its target by $4.2Bn; Special Consumption Tax (SCT) surpassed it target by $2.9Bn; General Consumption Tax (GCT) by $1.8Bn; and company tax by $1.4Bn.

Jamaica Customs, in this regard, continues to play a fundamental role in advancing the successes that have been attributed to the ERP. Over the last year, the Jamaica Customs Agency has implemented measures to improve operations and allow for greater efficiency in the Agency’s trade facilitation and border control mechanisms, including its administrative functions and capabilities to achieve greater compliance from all stakeholders.

The implementation of ASYCUDA (the Automated System for Customs Data) has begun; this will help to fast track these transformational efforts. It will allow for speedier updates and data processing and minimise errors and delays at the island’s ports. It will also significantly reduce transaction costs associated with importation and business facilitation.

As we have said so many times, Jamaica Customs is our first line of protection and therefore we must remain vigilant in defending the nation’s economic interests.

Best wishes for a most commendable week of celebrations.

Peter D. Phillips, PhD., MP

Minister