PORTIA SIMPSON Miller said Jamaica's ability to reap earnings from its bauxite industry has been stymied by the high energy cost for conversion to alumina and aluminium, the Trinidad Guardian reported yesterday.
She said on a visit to Trinidad that the proposed use of LNG from T&T to operate Jamaica's bauxite plants and for conversion is an "exciting prospect" for Jamaica.
"This alumina would be sent to Trinidad for conversion to aluminium in the proposed aluminium smelter. It is a big investment of cash and national commitment of resources in which Jamaica will be a minority partner," she said. "This will result in a stronger Jamaican economy. A stronger Jamaican economy will result in an expanded market for Trinidadian goods and services and more opportunities for Trinidadian investments in Jamaica."
TRADING PARTNERS
Simpson Miller delivered the feature address at a luncheon hosted by the T&T Chamber of Commerce and the Manufacturers' Association at the TTMA building in Barataria on Tuesday. She was on a two-day visit to T&T.
She observed that T&T already enjoys a large trade surplus with Jamaica, which exceeds US$300 million per annum. Forty per cent comprised food, while 60 per cent was petroleum-based products.
"We imported over 26 million barrels of petroleum last year. Of this, Petrojam, the state-owned refinery, bought US$359 million in finished petroleum products from this country. The multi-national companies also spent over US$200 million in finished petroleum product imports for our market."
Simpson Miller assured that as collaboration between both countries continues, Jamaica will remain a good customer and partner both in petroleum products and LNG purchasing arrangements.
