PSOJ President Metry Seaga wants Jamaican stakeholders to capitalize on UK trade agreement

Metry Seaga, the President of the Private Sector Organisation of Jamaica, also called PSOJ, asked the stakeholders to take advantage of the trade agreement with the United Kingdom. He expressed his views at the gathering at the British High Commission in Kingston during a business briefing.

PSOJ President Metry Seaga was in the meeting of the officials and stakeholders as a significant part of the United Kingdom’s trade mission in Jamaica. The agenda of the gathering was to discuss the business opportunities and trade relations between both nations.

The discussions in the meeting focused on the vast topics related to the business sector. The intention was to pinpoint the focus on the current situation and challenges in the economic ties and the necessary steps. The possibilities of growth across various sectors were also explored.

As per the views of the PSOJ President, Jamaica and its business entities failed to do well in the United Kingdom’s market even after the trade arrangements. The relevant efforts were not seen by the stakeholders to benefit the nation with an agreement, which was expected during the deal.

Metry Seaga said, “We just simply have not done enough as the private sector to take advantage of the trade arrangements that we have. Certainly, this trade has been available to us, and we just haven’t done enough.”

In his speech, President Seaga also highlighted the trade conditions of Jamaica with other partners like the European Union. He shared that, as per the last recorded trade data, Jamaica is exporting goods valued at over 550 million dollars to the member nations of the European Union.

He also pointed out that as the United Kingdom is not a part of the European Union after Brexit, the data on trade with the EU is not relevant to the UK. Anyhow, the critical sectors are carrying potential and new opportunities to be taken over under the dedicated trade agreement with the UK.

PSOJ President said, “The Economic Partnership Agreement between CARIFORUM and the United Kingdom, following Brexit, offers renewed avenues for strengthening trade in areas like agriculture, energy and logistics, but the key to unlocking even greater value lies in adding more value to our traditional exports.”

Metry Seaga specifically talked about emphasising the products of global demand like rum, coffee, and sugar. He is looking at the possible ways to use new methods to add to the economic growth of Jamaica through trade and business, along with increased processing and branding.

He mentioned, “The Private Sector Organisation of Jamaica is looking forward to exploring how we can build on our historical trade ties while seizing the new opportunities that Brexit presents.”

He marked that the PSOJ is ready for the coming days and to expand in sectors like tourism, agriculture, manufacturing, and logistics in the UK. Judith Slater, the British High Commissioner to Jamaica, was also present at the meeting and shared his words.

Judith Slater talked about the diverse range of industries in the UK trade mission and said, “We have got logistics, energy, shipping, innovative mosquito repellent systems, investment, and automotive businesses, and so, it is a good mixture.”

High Commissioner Judith Slater also talked about the connections between the UK and Jamaica in his words and said, “We have a common language, we have a common legal system, we have similar education systems, we understand each other, and the diaspora of nearly one million Jamaicans living in the UK has got to be a massive advantage.”

This is not the only time someone in an authoritative position has talked about the failure of Jamaican business stakeholders in the United Kindom’s market. The officials of the Jamaican government and trade experts highlighted this issue several times.

However, the government of Jamaica is constantly taking significant steps to improve the production and trade structure in the nation. Recently, a crop restoration and expansion programme was disclosed by Agriculture Minister Floyd Green, which focuses on helping cocoa and coffee farmers and boosting their economy.