For decades, the Caribbean has been fixated on the need to export to, and import from its traditional markets in North America and Europe. It has also sought to encourage visitor arrivals from the same nations, and to buy from them billions of dollars in foodstuffs.
The consequence is that in a much-changed world and region, bilateral trade in goods and services has not diversified to take advantage of the now significant, fast growing and sometimes complimentary economies in the Latin American and Caribbean region, including Mexico and the Dominican Republic. For this reason, comments by Jamaica’s Prime Minister, Andrew Holness, a little over a week ago, need to be warmly welcomed.
Speaking to participants at an International Monetary Fund (IMF) led forum, he explained that while Jamaica remained a “big proponent” of full Caribbean integration, the island was now actively pursuing a policy of outreach and engagement with the Spanish-speaking countries in the region. “There is a huge market in Latin America, which Jamaica has to tap into… and I think the rest of the Caribbean has to do the same. For us, I think there is greater advantage with us reaching out,” he said.
