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Trade Policy Review: Jamaica 2011
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Jamaica.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Bozkurt Aran (Turkey) at the Trade Policy Review of Jamaica 18 and 20 January 2011
This third Trade Policy Review of Jamaica has allowed Members to assess developments since 2005 and help develop a deeper understanding of Jamaica’s trade and investment regime. The participation of Dr. Baugh Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade Ambassador McCook and their delegation greatly contributed to the success of this meeting. I am also grateful to our discussant Ambassador Piantini Munnigh of the Dominican Republic for his insightful observations.
Report by Jamaica
The country’s first long-term strategic plan Vision 2030 Jamaica – National Development Plan (Vision 2030 Jamaica); and the Medium Term Socio-Economic Policy Framework (MTF) 2009-2012 were presented to Parliament in 2009. The MTF identified the intermediate steps towards the realization of Vision 2030 Jamaica. A number of important initiatives were taken to establish an effective monitoring and evaluation system and to sustain an efficient communication programme for the Plan. These included: (a) strategic Consultations with Ministries Departments and Agencies; (b) Rationalization of existing monitoring and evaluation processes; (c) capacity strengthening in Results Based Management (RBM); and (d) publicity and advocacy for Vision 2030 Jamaica.
Report by Jamaica
For the 2011-2016 period under review the focus of the Government of Jamaica was on economic growth and development; creating employment and maintaining fiscal prudence. Jamaica’s macro-economic policies and strategies continued to operate within the framework of Vision 2030 Jamaica – National Development Plan which seeks to put the country on a path to achieving developed country status by 2030. Progress has been made in the implementation of the Plan which is currently in its ninth year.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Juan Carlos González of Colombia at the Trade Policy Review of Jamaica, 13 and 15 September 2017
This fourth Trade Policy Review has offered a very useful opportunity for Members to deepen their understanding of the trade policies and practices of Jamaica and to collectively appreciate the challenges it faces in sustaining and improving its economic prosperity. I would like to thank the Jamaican delegation led by Her Excellency Mrs. Kamina Johnson Smith Minister of Foreign Affairs and Foreign Trade the discussant Ambassador Högni S. Kristjánsson of Iceland and to the 31 delegations that took the floor for their valuable contributions.
Preface
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by the WTO Secretariat
Jamaica’s economy which is dependent on alumina tourism remittances and its large informal sector is highly tradeoriented. Exports and imports of goods and services have represented on average over 90% of GDP since 2005. During the review period Jamaica has continued to struggle with a narrow production structure and vulnerability to external climatic and economic shocks. These shortcomings were exposed starkly during the recent global economic slowdown which severely impacted the Jamaican economy resulting in declines of real GDP of 1.7% in fiscal year 2008/09 and 2.5% during 2009/10 as well as marked decreases in earnings from the export of goods and services and from remittances.