Friday, April 19, 2024

WTO head praises Jamaican Government


Share post:

KINGSTON – Director General of the World Trade Organisation (WTO), Ambassador Roberto Azevêdo, has lauded the strategies implemented by Government to facilitate trade and to ensure the ease of doing business in the country.

“You cannot have successful trade policies without having an environment which is friendly for business and I think Jamaica has done a tremendous effort in this area, moving up in the ranking of the ease of doing business list,” he said.

The World Bank Doing Business 2015 Report revealed that Jamaica  moved up 27 places from the 85th position it held in the 2014 report to 58 last year, among 189 countries. Jamaica now has the Caribbean’s highest ranking in the ease of doing business.

Speaking recently on the JIS television programme, Issues and Answers, Ambassador Azevêdo said that trade facilitation is extremely important, particularly in island states, “where inter-connectivity is a problem, where the cost of trade is usually higher and lack of scale, because of the size of the economy”.

“So, lowering the cost of doing trade is absolutely fundamental if you want to benefit from trade and Jamaica is taking tremendous steps in that direction,” he added.

The Director General emphasised that for countries to be fully integrated into the global markets, they must offer the right trade environment.

“If you are not, you are going to be left behind. It is not about the size of the economy, it’s about the platform that that country offers for investors and for companies who want to do business, not only for the domestic market, but globally,” he said.

To achieve the right platform for trade, Ambassador Azevêdo said there must be a coherent strategy that looks at all the elements of the productive chain, adding that government and the private sector cannot do it alone.

“There is no single recipe. Each country will have to find the right ingredients for a recipe that will make a successful trade environment,” he argued.

Ambassador Azevêdo, who was in Jamaica for three days, met with Prime Minister, the Portia Simpson Miller, senior government officials and private sector organisations.

The WTO is the only international organisation dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. (JIS)


Please enter your comment!
Please enter your name here

Related articles

Missing: Sonia Suzzette Parris

Police are seeking assistance in locating Sonia Suzzette Parris, 58, of Edey Village, Christ Church who disappeared on Wednesday night. Parris was...

Man sets himself on fire outside NY court at Trump’s trial

NEW YORK - A man set himself on fire on Friday outside the New York courthouse where Donald Trump's historic...

Netflix move to end sharing accounts spark concerns

Netflix shares fell on Friday, as its surprise move to stop sharing subscriber additions and average revenue per member...

Major boost for film industry

The film industry in the region and Africa received a major boost this past week with the inaugural...