Trade Policy Review
Report by
Jamaica
Revision
Pursuant to the Agreement
Establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh
Agreement Establishing the World Trade Organization), the policy statement by Jamaica is attached.
Contents
1 Introduction.. 3
2 Vision 2030 Jamaica – National
Development Plan ("Vision 2030 Jamaica"). 3
3 Macro‑economic environment. 4
3.1
The Economic Reform Programme. 6
3.2
Economic Growth Council 6
4 Trade and Sectoral Performance. 7
4.1
Trade performance. 7
4.2
Sectoral performance. 8
4.3
Impact of global economic developments on Jamaica's trade performance. 9
4.3.1
Slow recovery from the global economic recession. 9
4.3.2
Lack of progress in the Doha Round negotiations and rising protectionism.. 9
4.3.3
De-risking and the loss of correspondent banking relationships. 10
4.3.4
Brexit 10
4.4
Economic growth-inducing policies and strategies to promote competitiveness. 10
5 Trade Policy and Institutional Framework. 13
5.1
Elements of Jamaica's foreign trade policy. 13
5.2
Institutional framework for Jamaica's foreign trade policy regime. 13
5.3
Regional integration – the establishment of the CARICOM Single Market and
Economy (CSME) 14
6 BILATERAL/HEMISPHERIC AND PREFERENTIAL
TRADE ARRANGEMENTS. 14
6.1
CARICOM bilateral agreements. 14
6.2
CARIFORUM‑EU Economic Partnership Agreement 14
6.3
CARIBCAN. 14
6.4
CARIBBEAN Basin Initiative (CBI) 15
7 MULTILATERAL FRAMEWORK – THE WTO.. 15
7.1
Implementation of the Uruguay Round Agreements. 15
7.2
Implementation of the WTO Agreement on Trade Facilitation. 18
7.3
Aid for trade. 18
7.4
Technical assistance and capacity building. 19
8 CONCLUSION.. 19