Jeffrey Hall, CEO of Jamaica Producers
Jeffrey Hall, CEO of Jamaica Producers, is speaking out against protectionist measures in the Caribbean.
He said protectionism today is likely to do more harm than good.
"I don't believe that Jamaica will get ahead by putting a wall around the sugar industry, for example, and saying that we're going to become the world leader in sugar by creating certain protectionist rules. I believe that we have the advantage of being at the centre of North America and South America and we can be a place in which, despite the geopolitical arguments that are happening internationally, you can invest here because we have good relationships and you can add value to goods here and export them across the region," he said.
Mr. Hall said some small players are likely to be affected but noted that strategies can be implemented to ease the impact.
Goods imported from countries outside CARICOM are subject to common external tariffs ranging between 10 to 20 per cent.
It is a part of the regional policy which allows for preferential treatment towards goods originating from CARICOM member states.