Jamaica and TT Sign MOU to Strengthen Trade Ties  

 

• 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 the Most Hon. Andrew Holness made the disclosure during a joint press conference held in the twin island Republic on Monday (August 29), with his counterpart, Dr. the Hon. Keith Rowley.
• Mr Holness said the MOU follows on activities that started in 2016 when Prime Minister Rowley made an official visit to Jamaica. “As a result of the activities previously started, 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 the Hon. Kamina Johnson Smith explained that both countries have been working together for some time to address non-tariff barriers, and this mechanism concretizes the commitment.
• The bilateral agreement will complement the CARICOM Single Market and Economy arrangements. It is expected to improve trade relations between both countries as they collaborate to deal with supply chain issues and export challenges. This should benefit manufacturers and the competitiveness of their products in the Trinidadian markets, and improve the country’s export earnings from the region.

(Source: JIS News)