TTMA Lauds MOU On Trade Complaints Between Trinidad & Tobago And Jamaica

Home*Cover Story*News

TTMA Lauds MOU On Trade Complaints Between Trinidad & Tobago And Jamaica

The Trinidad and Tobago Manufacturers’ Association applauds the signing of the Memorandum of Understanding on trade complaints between Trinidad and Tobago and Jamaica.  

This MOU is seen as a landmark that will deepen and strengthen the existing trade relations between these two states.

TTMA says it looks forward to this MOU in establishing the Trade Complaints Mechanism that seeks to provide transparent communications in addressing concerns.

The TTMA’s statement reads in full:

The Trinidad and Tobago Manufacturers’ Association applauds the signing of the Memorandum of Understanding on trade complaints between Trinidad and Tobago and Jamaica.  

This MOU is seen as a landmark that will deepen and strengthen the existing trade relations between these two states.

In recent times, both countries faced many trade – related challenges, especially those originating in the extra regional arena, which has curtailed the free flow of trade; in this regard solidifying CARICOM domestic relations, as this MOU seeks to do, is seen as timely.

TTMA looks forward to this MOU in establishing the Trade Complaints Mechanism that seeks to provide transparent communications in addressing concerns.

The MOU resonates with TTMA’s lobbying efforts over years where for example the Association had established a ‘Tradedesk’ that sought to resolve issues between the two CARICOM countries and hosted trade missions to Jamaica. Reciprocally, Jamaica has partnered in the TTMA’s hosted Trade and Investment Convention (TIC), attending the trade show, showcasing their goods and services to willing buyers and participants from Trinidad and Tobago and the wider world.

Trinidad and Tobago and Jamaica are identified as each other’s major trading partner within CARICOM and efforts must be engaged to ensure the trading opportunities for both countries, are not only sustained, but nourished and continue to grow. Significant trade between both countries takes place from several industries including the food and beverage, construction, printing, packaging and chemical related sectors. Additionally, investment in key sectors is also significant in both countries, especially in areas of finance, insurance, fast-moving consumer related sectors and others.

TTMA fully supports this initiative as it will further the development of the CARICOM Single Market and Economy. It will assist in the removal of non-trade barriers and restrictions and continue the development of each country’s economy. The Association’s commitment is underscored by the proposal to undertake a trade mission to Jamaica where a high level delegation is expected to take part in the process.  Set for the period November 20th to 25th, the objectives of the mission include, inter alia, building upon the commitments of both Governments to improve bilateral relations, seeking raw material suppliers from Jamaica, enhancing trading relations and opportunities for the private sector from both counties and other trade- related objectives.

TTMA thanks the Government of Trinidad and Tobago and the Government of Jamaica for this initiative, which shows the commitment to stability, development and sustainability of each country’s economy.

COMMENTS

WORDPRESS: 0
DISQUS: 0