Howard Campbell, Gleaner WriterWITH THE Caribbean Single Market (CSM) set to dawn with the new year, some local entrepreneurs are optimistic that new business links with their colleagues in the region will mean a boost in enterprise.
According to Dr. André Gordon, president of the Jamaica Exporters' Association (JEA), there are mixed feelings among his members as the big day approaches.
"There are some members who are excited about the CSM, but there are a few members who have decided to take a watch-and-see attitude; others don't see it benefiting them," Mr. Gordon told The Sunday Gleaner: "By and large we are excited about the possibilities of increasing exports, particularly through market access and easier ability to set up operations in other jurisdictions."
ALL NOT CLEAR
ON POTENTIAL
Along with government agencies like Jamaica Promotions (JAMPRO) and other private sector agencies, the JEA staged a forum this year to educate members on the benefits of the CSM. Yet, he admits that not all those who attended are clear on its potential.
Mr. Gordon, who is principal of Technological Solutions Limited (TSL), says most optimism in the JEA has come from members involved in the trade sector. He said manufacturers, some of whom already do business in the Caribbean, are also upbeat but he believes their position will be more positive once they are aware of the CSM's duty regime.
ISSUES NEED CLARIFICATION
"It is still unclear as to how the reduction in the need for additional tariffs on entering other jurisdictions is going to be effected. Not much has been said about that," he said.
"Those issues need to be clarified and if those opportunities exist then I can tell you there are elements in the Jamaica exporting community that are waiting to take advantage of this."
Albert Huie, general manager of the Small Business Association of Jamaica (SBAJ), says members of that organisation are looking forward to the CSM.
Most of the interest, he pointed out, has come from manufacturers.
"We have people who are interested in working in Trinidad because the raw material they need is there," he explained. "They are considering going to Trinidad and making their stuff and taking it back to Jamaica."
Mr. Huie, who says the SBAJ has about 200 affiliates, says if many manufacturers go this route it will be something of a mixed bag for Jamaica.
"It's good and it's bad. It's good that they'll be able to make their stuff cheaper, but it's bad for Jamaica that we'll be losing production," he said.
