JMEA Vice President Cecil Foster - Gleaner file photo
Vice President of the Jamaica Manufacturers and Exporters Association (JMEA), Cecil Foster, says the government must consult with members of the investing community before implementing its policies.
Speaking in an interview on Real Business on Power 106FM against the background of the 8.1 per cent fall in exports during the first 10 months of last year, Foster suggested that faster economic growth is the only solution to the country's economic problems.
Mr. Foster conceded that the trade deficit is a manifestation of the country's overconsumption, particularly of imported goods and services and underproduction for both the domestic and export markets.
The JMEA vice president argued the government must implement the policy to buy 20 per cent of its goods and services from local producers in order to drive local production.
Mr. Foster stressed that the government must provide more incentives to exporters, particularly as it relates to the cost of capital and energy in order to drive exports.
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