Jamaica Signs Bilateral Investment Treaty with Kuwait

Thursday, April 04, 2013
Photo: Jamaica Logistics

Jamaica signed a Bilateral Investment Treaty (BIT) with Kuwait that will encourage and guide future investments into the Caribbean country.

The agreement signed between Anthony Hylton, Jamaican Minister of Industry, Investment and Commerce and Kuwaiti Minister of Finance, His Excellency Mustafa Al-Shemali, is part of a broader high-level Ministerial Trade Mission to the Middle East Gulf States of Kuwait, Dubai and Abu Dhabi. It forms a crucial part of the Government of Jamaica’s push to create Jamaica into one of the world’s top four logistics centers.

The Bilateral Investment Treaty (BIT) between Jamaica and Kuwait will seek to provide fundamental protection for Kuwaiti investments in Jamaica, ranging from the usual national treatment and most favored nation treatment, as well as guarantees for fair and equitable treatment for investors of either state. It provides companies with the necessary legal standing in dispute settlement matters and also makes specific reference to corporate social responsibility for companies operating in either country. 

The purpose of the Ministerial Mission to the Gulf States is to engage potential partners and investors in the region, as well as to promote investment opportunities in the logistics and other sectors in Jamaica.  In addition, the delegation is seeking to gain insight and greater perspective on global best practices in logistics in developing the Master Plan for Jamaica’s logistics industry.

The Ministerial Mission to the Gulf States follows similar Jamaican Government-led delegations to Panama as well as to China and Singapore to both benchmark Jamaica against its proposed developments in the logistics sphere and to pursue potential partnerships with investors in the logistics area. 

The Minister’s visit to the Emirate State of Dubai will focus on the aviation aspect of the logistics project.  Securing investments into the project is also a significant aspect of the mission and is the basis of a number of the meetings planned during the mission. While Dubai, is the main focus of the mission, the team will also take advantage of being in the region to hold meetings in Kuwait and Abu Dhabi with potential financiers and investors in the projects, as well as, other business opportunities that require investor support.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Government Update

Shipping Industry Supports Global Climate Change Deal

The global shipping industry, represented at the United Nations Conference in Paris by the International Chamber of Shipping (ICS), fully supports a global deal on climate change.

USN Issues Full Funding for LCS "Cooperstown"

As part of the Littoral Combat Ship (LCS), the US Navy has awarded to the consortium which includes Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM),

Opportunities for Growth as Chinese Economy Evolves

The global breakbulk and heavy-lift markets have had to navigate choppy waters in recent years.   Not necessarily due to a shortage of freight, but as a consequence of unsustainably low freight rates.


Barge-Rail Service on Upper Columbia, Snake Rivers

Container barge service is back on the upper Columbia and Snake rivers.The Up river Container Barge-Rail Shuttle will help importers and exporters in eastern Washington,

CMA CGM Seeking Funds for NOL Takeover

France’s CMA CGM has approached banks to finance its potential takeover bid for Singapore’s Neptune Orient Lines Ltd (NOL), reports Bloomberg.   The world’s No.

Green Signal to New Access Channel to Port Said East

The construction of a wide access channel to Port Said East, as the side channel project, has officially received approval.   The head of the Suez Canal Authority (SCA),

Middle East

Dan-Bunkering Appoints Bara as Bunker Trader

Dan-Bunkering (Middle East) DMCC is pleased to announce that Lamin Bara has joined the office in Dubai as Bunker Trader as per 1 November 2015. Lamin was

Two New Crewboats for ISS

Maritime and logistics service provider Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels.

Grandweld Delivers Vessel to ADNOC

United Arab Emirates leading shipyard Grandweld has delivered a dive maintenance and support vessel TAWAM1 to Abu Dhabi National Oil Company (ADNOC).   Grandweld

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0834 sec (12 req/sec)