Cayman to host JMC and new trade summit

| 12/06/2019 | 10 Comments

Cayman News Service(CNS): The government has announced that the Cayman Islands will be hosting this year’s United Kingdom Overseas Territories Association (UKOTA) Pre-Joint Ministerial Council (JMC) meeting this month. Leaders from all of the territories will be here for the annual event to agree the agenda for the London meeting later this year with the UK government. The CIG is also taking the opportunity to showcase its new international trade ministry with an inaugural summit following the JMC.

The UK/OT Trade Summit will be jointly hosted by the local and UK governments. Officials said the summit is designed for high level government discussions between UK and OT government leaders and officials

Premier Alden McLaughlin said, “This inaugural UK/OT International Trade Summit is an opportunity to showcase what the OTs have to offer but to also discuss trade opportunities with and for all OTs as we all look for ways to diversify our economies and take advantage of the opportunities that will be afforded after Brexit.”

The director of the Overseas Territories Department in London, Ben Merrick, said the UK was delighted to co-host the event. “This brings international trade issues to the forefront of our discussions with the OT governments as well as provides a platform for discussion of how we can better work in partnership on trade,” he added.

Topics being discussed include opportunities to engage with UK initiatives for trade and promotion as well as with the Commonwealth in their Enterprise and Investment Council, and close examination of business sectors such as fintech, tourism, healthcare and the blue economy, officials explained.

Eric Bush, the chief officer of the new Ministry of International Trade, Investment Aviation and Maritime Affairs (MITIAMA), said it was an exciting time for Cayman, given the 60-year anniversary of its first written constitution.

“We are now at a crossroads of our country’s history. Our forefathers have built a strong and vibrant economy for us all to enjoy,” Bush said. “It is now our time to further build on these foundations and bring Cayman to the world stage, showing them who we are, what we have to offer and seek to enhance trade and investment from our neighbours, near and far.”

The timing of the summit has been planned specifically to coincide with the celebrations and invitations extended to the UK Government and the overseas territories delegates. Alfonso Wright, the executive chairman of Celebrate Cayman, said it was a wonderful opportunity to showcase Cayman Islands history and culture with the UK and BOT leaders.

“At such a significant time for the Cayman Islands’ relationship with the UK, it is invaluable to be able to invite such high level attendees to join our celebrations,” he added.

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Category: Business, Politics

Comments (10)

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  1. Anonymous says:

    World Class.

  2. RABodden says:

    May I suggest Cayman Brac be included as a Host for this event. Any help in revitalizing the economy on our sister Island will go a far way in diversifying our over congested Tourism Market on Grand Cayman. A Niche Dive and Outdoor activity destination with a Selected Premiere clientele will help boost economical development on the Brac. But please have a long term plan of expected results before replicating Grand Cayman.

  3. Anonymous says:

    On my word!

    Can’t wait to hear the negativists and sourpusses comment on this post…


    • Anonymous says:

      Perhaps someone can help me. What does Cayman export other than some rum cakes and a few cases of rum?

      • Anonymous says:

        …pretty sure financial services and medical/tourism services are counted as exports.

        • Anonymous says:

          Thanks for your clarification for the idiot pretending to answer a sarcastic question above in 8:57pm

          • Anonymous says:

            Believe 9:48 failed economics 101 and does not know the difference between exports and imports.

      • Anonymous says:

        Many countries strive to export services in modern times.

        Those items usually off higher value added to the domestic economy that the traditionally sugar, beans, etc

        Man 8:57pm you stuck in the past talking about rum cakes and rum! Nothing wrong with those. They serve their purpose and should be supported.

        The global economy has moved on past your sell by date. Stay out of stuff that you cannot comprehend.


        • Anonymous says:

          Certainly don’t need CIG civil servants to start promoting financial services here overseas. Please leave it to the private sector rather than further expanding the CIG bureaucracy. The private sector has already proven they can do it after 50 years of success. No need for more Eric Bush’s.

      • Anonymous says:

        If not for CITES, turtle meat would be flying out the door.

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