Scotiabank Group Jamaica (SCJ) president Bruce Bowen has lashed out at Jamaicans who he said emotionally opposed the acquisition of Air Jamaica by Trinidadian “brothers and sisters” but were fine with a US outsider.

Bowen, a Canadian, was in disbelief that this anti-regionalist view existed in modern Jamaica.

“I am absolutely amazed that in 2010 you have some people in Jamaica who would prefer to have a hedge fund out of New York with no concern in the region, take equity stake in Air Jamaica rather than our brothers and sisters in fellow Caricom countries,” he said in his address at the Jamaica Stock Exchange’s Investments and Capital Markets Conference on Thursday.

“Fortunately sane minds prevailed and realised its better to have someone who knows you than doesn’t,” he said in relation to the resulting partnership between the airline and the Trinidad based Caribbean Airlines.

The extent of regional xenophobia lacks rigorous analysis but anecdotal evidence suggests that it is a view held more prevalently by those over 40 who have witnessed Jamaica’s social and economic decline amidst Trinidad’s rise. The result is “a lot of emotional infighting” amongst the region said Bowen who called for a truce.

“Across Caricom we seem to spend more time arguing what I see as small differences instead of commonalities and how we can achieve success for all parties,” he added.

Bowen’s speech, entitled Transformational Leadership, received praise and comparisons to the “inspirational” charisma of “Barak Obama” from members of the audience at a time when banks are under pressure to lower bank fees and interest rates. The audience included Jamaicans and other Caribbean nationals.

Head of the Jamaica Manufacturers’ Association Omar Azan, in a recent interview with Sunday Finance, opined that anti-Trinidad sentiment in corporate Jamaica was founded upon the perception of an uneven playing field when it comes to trade between the two countries. Jamaica’s trade deficit with Trinidad stood at US$526.2 million in 2009 based on most recent data. Azan added that oil-rich Trinidad provides unfair energy subsidies to its manufacturers, giving Trinidadian manufacturers a huge competitive advantage in trade.

There was also an outcry by a some Jamaicans to boycott Trinidadian products following controversial remarks made by Trinidad Prime Minister Kamla Persad-Bissessar in October 2010 about offering self-serving humanitarian aid.

In 2009, there was another outcry in Jamaica after Trinidad blocked the importation of Tastee patties based on a non-tariff barrier. The issue caused a trade dispute between Jamaica and Trinidad which resulted in public debate on the state of intraregional trade and the objectives of the Caribbean Community Single Market.