KINGSTON: The American Chambers of Commerce (AMCHAM) of Jamaica and Trinidad and Tobago have teamed up to pilot a project aimed at advancing executive, legislative and business-to-business initiatives between Caricom and the United States.
According to AMCHAM Jamaica, the aim is to expand trade and investment in the services sector between both markets, under a refocused Caribbean Basin Initiative (CBI), titled Services of the Caribbean (SOCA). The initiative was launched in Washington DC in 2013.
AMCHAM Jamaica president, Ron McKay, said that he is fully convinced that the services sector is the way to expand economic growth and jobs for Jamaica and its Caricom neighbours.
“We urge the business community and governments of the region to join and support this effort,” he said.
SOCA seeks a refocusing of the CBI towards services, as the dominant sector of Caricom economies and of US-Caricom trade and investment. This follows 30 years of a goods-based preferential trade regime, which no longer reflects the economic reality of the region or of the bilateral trade and investment relationship.
The forum will feature presentations from Jamaica’s Minister of Industry, Investment & Commerce, Anthony Hylton; Reuben Smith-Vaughan, senior manager, Americas Policy and Advocacy, US Chamber of Commerce; and representatives from the AMCHAMs of Barbados and the eastern Caribbean as well as AMCHAM Trinidad & Tobago.
