JNBS to host economic conference in Cayman
Published:Wednesday | November 24, 2010 | 12:00 AM
The Jamaica National Building Society (JNBS) and its subsidiary, National Building Society of Cayman, have initiated discussions on economic advancement within the region, in the hope that it will achieve what CARICOM has failed to do over the years - fashion a workable trade policy.
Political leaders and members of academia have confirmed their attendance to the Northern Caribbean Conference on Economic Co-operation on December 17 at the Ritz Carlton in the Cayman Islands, said to be the first confab of its kind in this part of the Caribbean.
Earl Jarrett, the general manager of JNBS, said yesterday that the inaugural conference would advance the efforts of CARICOM, with the inclusion of some of its representatives who are slated to participate.
JNBS owns 97 per cent of the National Building Society of Cayman, which is managed by Dunbar McFarlane, a Jamaican.
The conference will be chaired by former Prime Minister of Canada Joe Clarke, while its participants will include Prime Minister Bruce Golding; former PM, P.J. Patterson, who remains active in CARICOM; the premier of the Cayman Islands, McKeeva Bush; Pro-Vice Chancellor and Principal of the University of the West Indies Professor Gordon Shirley; and representatives from American, Canadian and British development agencies, as well as entrepreneurs.
At a media luncheon to launch the conference, Jarrett said it was necessary as old paradigms had broken down and new ones needed to be built.
"This conference is therefore a timely intervention to explore new trade, investment and educational relationships in the northern Caribbean countries of The Bahamas; Cayman Islands; Cuba; Dominican Republic; Haiti, Puerto Rico and Jamaica," he said.
"We believe that it is critical to speak to our trade and development needs; define and address security issues; re-examine immigration and the movement of people between our countries; expand education opportunities at the tertiary level, intra-regionally and collaborate in the furtherance of the development of tourism."
McFarlane was just as confident of the outcome.
"The National Building Society of Cayman recognises how important it is for regional Governments to leverage strengths and establish partnerships in core areas for the mutual benefit of all countries," McFarlane said, speaking by audio link from Cayman.
"This is integral to the individual prosperity of our respective countries, considering the tremendous global challenges affecting our region at a time when the scarcity of resources is an everyday reality, it is also integral to regional success."
McFarlane said the conference would faci-litate meaningful dialogue, leading to improved cooperation among northern states and hopefully spawn much-needed partnership to benefit the people of the region.
"We support the need for greater private/public sector partnerships across the region - that would create access to regional markets; increase intra-regional tourism; and facilitate the application of home-grown expertise in the development of solutions to benefit our people," he said.
Declaring that the discussions at the conference would unearth answers to some important questions, McFarlane said his team welcomed the positive response from heads of government, top officials and the private sector.