Bright
future for trade between T&T and Jamaica
By
Desmond Allen/ Jamaica Observer
Trinidad Express
Port Spain
Petroleumworldtt.com.
06 11 06
When the figures are totted up, the balance of trade
between Jamaica and Trinidad and Tobago is distinctly
in favour of the twin-island state in the southern
Caribbean. That, outgoing Trinidad and Tobago High
Commissioner Denis Francis confidently believes
can and will change.
Francis
who leaves Kingston month-end after six years for
Port of Spain, en route to Geneva, Switzerland for
his next overseas posting, sees a bright future
for trade between the two Caribbean Community (Caricom)
partners, in the context of the emerging Caricom
Single Market and Economy.
"There
is a lot of potential that should be pursued and
I hope will be pursued between the two countries,"
said Francis, "once there is a commitment to
making the sustained effort that is required to
establishing and developing our markets".
More
specifically, the diplomat said: "Trinidad
and Tobago would like to see an increased flow of
goods and services from Jamaica to its market."
Francis noted the planned purchase of Liquified
Natural Gas (LNG) by Jamaica from T&T, but pointed
to big ticket items, such as the proposed aluminium
smelter to be built in Trinidad with Jamaican bauxite
as feedstock and, possibly, with Jamaican involvement
as an investor.
"Through
projects like this, we expect that Jamaica's exports
to Trinidad and Tobago will increase," he predicted.
Jamaica's
external trade deficit with Trinidad and Tobago
for 2004 was estimated to be US$465 million. But,
petroleum products make up a significant portion
of imports from that island republic, so with oil
prices at more than 50 per cent above 2004 levels,
the trade deficit could be closer to US$700 million.
Francis,
dean of the diplomatic community until his tour
of duty ends, said that quite apart from the bigger
projects, Jamaicans could look at exporting furniture
to his country. He recalled that in the past, at
least one Jamaican company did good business selling
furniture to Trinidad and he suggested it was a
market worth revisiting at this time.
"We
should look at things as seemingly small as patties.
Trinidadians
love patties," Francis told Caribbean Business
Report.
Earlier
this year, Vincent Chang, CEO of leading patty maker,
Tastee had indicated in an Observer Families in
Business interview that the company was advanced
in its plans to export the product to Trinidad and
Tobago.
"We
love jerk. We love dancehall. So many of your well
established deejays go regularly to do gigs in Trinidad,"
Francis added.
Francis
who came to Jamaica for his second assignment after
spending over seven years in Canada, said he would
leave with great memories of his stint here.
He
said he had discovered the Jamaican spirit and one
of the most rewarding aspects of his stay was the
rapidly intensifying bilateral relationship between
Kingston and Port of Spain. He was profuse in thanking
the government and people of Jamaica for "their
warm hospitality and all the kindness that they
have extended to me, which has allowed me to complete
my mission successfully".
"This
is a beautiful country and I wish nothing but success
and prosperity for the Jamaican people," he
said in his parting shot.
Trinidad
Express
Wednesday,
May 24th 2006
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©2006 Trinidad Express. All Rights Reserved.
