The call is being made for the Jamaica Government to prepare itself for a growing uncertain global economic environment amidst trade challenges and a possible economic recession.
The call is being made by the Chief Executive Officer of the Jamaica Producers Group, Jeffrey Hall who believes that the country needs to reposition itself to benefit from global transformation rather than lose out to the possible benefits.
Hall made the statement while speaking exclusively to CVM LIVE.
Jamaica Producer’s Group (JP) recently recorded a 629 million dollar profit. Hall says the business outlook for the next eighteen months must account for volatile global exchange rates and major changes to the trade rules affecting China, Europe and the UK, the United States and other parts of North America.
He says JP is positioning itself to identify growth opportunities in the new environment. He goes further to note that value-added services in logistics and manufacturing that take advantage of Jamaica’s access to global consumer markets.
He adds that the country should also look at incorporating certain imports that are not produced in jamaica and make them apart of local production.
According to CEO, this will beneficial for Jamaica’s growth and development.