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HomeBusinessEconomyJamaica – Trinidad and Tobago signs MoU to strengthen trade ties

Jamaica – Trinidad and Tobago signs MoU to strengthen trade ties

By Latonya Linton

KINGSTON, Jamaica, (JIS) – Jamaica and the Republic of Trinidad and Tobago have signed a Memorandum of Understanding (MOU) aimed at providing companies in both countries with a transparent and predictable means of addressing export challenges.

Prime minister Andrew Holness made the disclosure during a joint press conference held in the twin island Republic on Monday (August 29) with his counterpart, Dr Keith Rowley.

Holness said the MOU follows on activities started in 2016 when prime minister Rowley made an official visit to Jamaica.

“As a result of that we were able to create a pathway to deal with trade complaints, and today we signed a Memorandum of Understanding on that cooperation, and that pathway, I believe, has been very useful to both our countries in improving trade relations,” he informed.

Minister of foreign affairs and foreign trade, Senator Kamina Johnson Smith, explained that both countries have been working together for some time to address non-tariff barriers, and this mechanism concretises “our commitment.

“We look forward to working with private-sector organisations to sensitise individuals and companies about the new-and-improved processes to address concerns,” Senator Johnson Smith stated on Twitter.

She added that the bilateral agreement will complement the CARICOM Single Market and Economy arrangements.

Prime minister Rowley said he hoped that his country, “will always view Jamaican investment in Trinidad and Tobago as… welcome, as Jamaica welcomes Trinidad and Tobago investment”.

Meanwhile, both leaders also spoke about enhancing bilateral cooperation for business registration, sports, violence prevention and the culture and creative industries. They also discussed issues surrounding the free movement of labour within CARICOM.

Prime minister holness is in Trinidad and Tobago as a special guest for the country’s 60th anniversary of Independence celebrations.

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