Jamaica PM urges private sector to ready for CSME

Jamaica's PM P.J. Patterson

Tuesday, September 23, 2003

KINGSTON, Jamaica: Jamaica's Prime Minister, Mr. P.J. Patterson, is urging members of the local private sector to prepare for the Caribbean Single Market and Economy (CSME) and welcome the inflows of new capital, entrepreneurship and technology that are likely to arise from its establishment. 

The prime minister stressed that as it was businesses that are involved in trade who should become engaged in the process towards the creation of the CSME, according to JIS News.

Mr. Patterson at the time addressing members of the private sector at a recent trade seminar hosted by the Jamaica Conference Board in association with the law firm Myers, Fletcher and Gordon at the Knutsford Hotel in Kingston. The seminar was held under the theme 'Taking advantage of the business opportunities created by the Caribbean Single Market and Economy'.

PM Patterson said initial investments would be in the form of new businesses, acquisitions, mergers and joint ventures, but that the country should also benefit from an interchange of managerial and professional expertise as well as expanded markets. 

And he stressed that the CSME would result in greater opportunities for travel and study throughout the region, as well as the acceleration of sustained economic development through investments in areas such as agriculture and tourism.

"The CSME will permit entrepreneurs to trade freely without hindrance, establish and service markets and clients in other states, attract capital or invest and utilize funds in another state and hire from or work in another state," Mr. Patterson said.

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