Jamaica Signs Bilateral Investment Treaty with Kuwait

MarineLink.com
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 Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Government Update

Brazil Truckers Continue Roadblocks After Crackdown

Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll

Italy to Begin Naval Exercises off Libya

Italy will begin annual naval exercises this week near the coast of Libya, where a breakdown in order has allowed tens of thousands of migrants to try to reach

India to Appoint Coastal Shipping Consultant

As part of Narendra Modi government plan to promote coastal shipping, India is all set to appoint a consultancy firm to assist the Shipping Ministry.    The

Logistics

Port Conference Comes to Hamburg

This year’s IAPH World Ports Conference will be held in Hamburg from June 1-5.   International representatives from business, politics and science will gather

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

1st lifejacket for Working at heights

The first lifejacket custom-designed specifically for offshore personnel carrying out rope access or work at height has been developed by Survitec Group, the

Middle East

Interview: Nakilat's Samir Bailouni

SGMF Membership - Uncovered: An interview with Samir Bailouni, Nakilat The Society for Gas and Marine Fuel (SGMF) recently interviewed one of its members, Samir

Elcome Enters Sales, Service Deal with JRC

Elcome International has signed a distribution agreement with Japan Radio Company (JRC) and its technology partner Alphatron Marine.   Under the agreement, the

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1934 sec (5 req/sec)