Port-of-Spain, Trinidad – Bilateral trade talks and negotiations led by the Hon. Anthony Hylton Minister of Industry, Investment and Commerce with the Government of Trinidad and Tobago, has resulted in the re-opening of discussions for the supply of LNG from the twin-island republic to Jamaica.
The Government of Trinidad and Tobago has agreed to re-examine the previously signed MOU between the Manning administration and Jamaica to supply a constrained volume of Jamaica’s LNG requirements and to use this as the starting point for the discussions. Since arriving in Trinidad on Sunday, Minister Hylton has continued Jamaica’s engagement of the T & T Government in high-level meetings with several senior Cabinet Ministers including the island’s Energy Minister Kevin Ramnarine, who held earlier discussions on energy with Jamaica’s Energy Minister, Phillip Paulwell. The matter has also been raised in informal discussions between the Prime Ministers of both countries.
The public announcement of the re-opening LNG talks came at today’s official opening of the Trade and Investment Convention (TIC) in Port-of-Spain, at which Minister Ramnarine stated the willingness of his administration to reopen discussions with Jamaica on the supply of LNG from Trinidad and Tobago. Minister Ramnarine told members of the private and public sector gathered at the meeting that energy security was an important pillar of any economy while acknowledging that the average price of energy in Jamaica was tenfold the price in Trinidad and Tobago.
Energy has been an issue of deep concern in Jamaica’s productive sector and is at the heart of recent calls from elements of the private sector for Jamaica’s withdrawal from CARICOM.
The discussions held by Minister Hylton have been timely as they form part of an ongoing effort to re-balance Jamaica’s trade relationship with Trinidad and to bring it in line with the Revised Treaty of Chaguaramas.
Minister Hylton has consistently maintained that the use of the trade mechanisms of CARICOM is one option to resolve trade conflicts and spur intra-regional trade. “This decision to re-open the talks with the previously signed MOU as reference point could be a fillip for re-energizing CARICOM” says Minister Hylton. The Minister has extended an invitation to Minister Ramnarine to visit Jamaica in the near future to continue discussions with Minister Paulwell and himself on the pressing issues related to the supply of LNG.
Minister Hylton left Jamaica on Sunday, May 13th to attend events being held in Trinidad under the banner of Caribbean Investment Week. The events included the Caribbean Investment Forum, an OAS Meeting of Regional CEOs and Chairmen as well as the Trade and Investment Convention where JAMPRO, JEA and JMA coordinated with fourteen Jamaican companies to promote exports and investment opportunities.
Minister Hylton’s visit to Trinidad and Tobago follows the visit of Minister Stephen Cadiz to Jamaica late April when he led a thirty plus delegation from Trinidad to the 2012 JMA/JEA Expo. Discussions between the counterpart Ministers in Jamaica were frank but cordial, paving the way for Minster Hylton’s reciprocal visit to Trinidad and Tobago.
While in Trinidad, Minister Hylton also held discussions with a number of private sector companies from Central America and the Caribbean who have expressed a keen interest in the investment opportunities in Jamaica.
