Evaluation of the economic and social impact of possible trade negotiations between Jamaica and Central America, Mexico and the countries of the Northern Caribbean

Abstract

This study was prepared under the United Nations Development Account project “Enhancing the Contribution of Preferential Trade Agreements to Inclusive and Equitable Trade”, implemented by the United Nations Regional Commissions for Asia (ESCAP), Africa (ECA) and Latin America and the Caribbean (ECLAC). The project’s objective is to facilitate the negotiation of fair and equitable trade agreements that can contribute to a vision of development that combines growth with social inclusion. The study evaluates the economic and social impacts resulting from the potential increase of commercial relations between Jamaica and Mexico, the member countries of the Central American Common Market (henceforth referred to as Central America) and those of the Northern Caribbean after signing a Free Trade Agreement (FTA) with each party. Jamaica is currently a party to trade agreements with a number of countries in the study through its membership in the Caribbean Community (CARICOM), and the study assesses the potential results from further liberalizing trade with these partners and others in the region. The results of this analysis can be used to inform future trade negotiations and identify specific opportunities for export diversification and expansion.