Jamaica and Trinidad and Tobago have signed a trade agreement to provide companies with a transparent and predictable means of addressing both countries’ export challenges.
Jamaica’s Foreign Affairs Minister, Kamina Johnson Smith said the memorandum of understanding (MOU) for a Trade Complaints Mechanism was signed yesterday (August 29) in Trinidad and Tobago.
“We have been working for some time to address non-tariff barriers and this mechanism concretizes our commitment. We look forward to working [with] private sector organizations to sensitize individuals and companies about the new and improved processes to address concerns,” Johnson Smith said on Twitter.
The minister said the bilateral agreement will complement CARICOM Single Market and Economy arrangements, adding that it also preserves all legal rights and treaty institutions, including the Council for Trade and Economic Development. It will also help companies navigate pathways as the Jamaican and Trinidadian governments seek to facilitate trade.
Over the years, Jamaican companies have complained about trade barriers imposed by the government of the twin-island republic, as well as the actions of Trinidadian companies.
Dr. Keith Rowley, prime minister of Trinidad and Tobago, officially visited Jamaica in 2016 to avert what he called a “trade war,” which was fueled by constant complaints from Jamaican businesses about alleged unfair trade practices by their Trinidadian counterparts.
Meanwhile, following the signing of the MOU, Prime Minister Andrew Holness held bilateral discussions with Rowley and members of his cabinet yesterday.
Holness and a delegation are in Trinidad for the 60th anniversary of the country’s independence.
