The Jamaica-T&T Trade Facilitation Desk
The late Dr. Maxwell Maltz, Motivational Author, once said, “Close scrutiny will show that most crisis situations are opportunities either to advance or stay where you are.” In these challenging times, the contraction of our export markets is fast becoming an unpleasant reality. Maintaining market share is also proving to be difficult and business has to seek new and creative ways that will prevent its existing trading relationships from being compromised.
Although the Chamber has been advocating for over a decade now that its members expand their export markets to the extra-CARICOM regions, we cannot ignore the fact that CARICOM still plays a significant role as a net importer of our manufactured goods, with Jamaica as the largest and most significant. In 2010, the total exports to Jamaica stood at TT $4.5 billion with the trade deficit standing at over TT $4 billion in Trinidad and Tobago’s favour.
The presence of major regional conglomerates such as Neal and Massy, Grace Kennedy and Co. Ltd. and Trinidad Cement Ltd., to name a few, shows that trade between Trinidad and Tobago and Jamaica is well established.
Despite these examples, many of the goals of CARICOM as it relates to trade have not been realised, and in these challenging economic times, regional partners are faced with a choice of bringing these goals to fruition or allowing them to subside. We have taken note that over the years several Jamaican businessmen have encountered difficulties in exporting their products to Trinidad and Tobago, and have cited issues such as the implementation of “Non Tariff Barriers” to protect local companies, unfair competition and some of you may be very familiar with the highly publicised Jamaica Patty War that occurred in 2009. The reverse also stands true: at one time, the Trinidad and Tobago exporter lived with the threat of his goods being boycotted by Jamaica, in addition to being faced with bureaucracy and other impediments to conducting business. In an effort to ensure smooth relations and to ensure that both countries interests are served, a private sector funded initiative branded the Jamaica/T&T Trade Facilitation Desk (JA Trade Desk), was launched on October 27th, at the Terra Nova Hotel in Kingston, Jamaica. It was attended by the Trinidad and Tobago Manufacturers’ Association (TTMA), the Jamaica Chamber of Commerce (JCC) and the Trinidad and Tobago Chamber, together with several business persons from Jamaica. This Trade Desk is designed to strengthen trade between Jamaica and Trinidad and Tobago with a focus on both trade in goods and services.
The Trade Desk will be housed at the TTTMA, and will be ably supported by the two other signatory business associations, namely, the Jamaica Chamber of Commerce and the Trinidad and Tobago Chamber of Industry and Commerce. The Desk will also be staffed by a committed Trade Officer.
At the signing of the MOU, the TTMA’s CEO, Natasha Mustapha-Scott stated that “While we admire what government is doing to ease trading ties between both countries, it is time for the private sector to take its place as the champions of trade and lobby governments to not only talk and put pen to paper but to begin the implementation of these plans and policies.”
The Chamber through this Trade Desk will serve as a key point of contact for exporters seeking assistance and will also provide (though not limited to) information on import requirements, while providing assistance with shipments that are detained at ports of entry. It is our hope that through this Desk, the ease with which market information and knowledge of regulations and legislation is shared, will be expedited.
Sentiments expressed by this Chamber’s CEO, Catherine Kumar, were echoed my Mr. Milton Samuda, President of the Jamaica Chamber when he stated that the signatories “by engaging in this collaboration have struck a blow for reason and results; for free and fair trade and fair competition between sister states.”
We are raring to go as we put the necessary steps in place for start up and we look forward to a successful partnership as we forge ahead to realise a more harmonious relationship with our leading CARICOM partner. It is our hope that once the success of the Desk has been established, we can expand it to include other CARICOM countries.
The Chamber certainly looks forward to working with all the parties for the mutual benefit of the Trade Facilitation Desk and this new era of Jamaica-T&T Trade Relations.
