MONTEGO BAY, St James — Jamaica marked an historic moment Monday afternoon with the signing of the Global Alliance of Special Economic Zones (GASEZ), a United Nations Council on Trade and Development (UNCTAD) initiative.

Roughly 7,000 special economic zones (SEZs) form a part of the new alliance of which about 3,000 are currently in the World Free Zones Organization.

According to Minister of Industry, Investment and Commerce Senator Aubyn Hill, the new alliance will open up a space for free zones trade around the world to facilitate trade, encourage economic growth, enable the employment of a great number of people in countries around the world, “and really foster linkages between businesses and ordinary entrepreneurs and citizens of countries around the world”.

Said Hill: “It’s not to build organisations alone, it’s to help ordinary people get jobs,and have money in their pockets to live at a time when it’s difficult. This alliance could not be more appropriate than today,” Hill noted during the World Free Zones Organization annual conference and exhibition at the Montego Bay Convention Centre on Monday. The conference will climax on Friday.

“I call this a very special event because it was 40 years ago on December 10, 1982 that the UN Convention Law of the Seas was signed here in Montego Bay and the Seabed Authority Secretariat was established in Kingston,” Hill said.

“The Government of Jamaica is very pleased to welcome all the visiting members of the World Free Zones Organization here in Montego Bay for this year’s conference. We are pleased to be hosting the the first face-to-face World Free Zones Association conference in almost three years. Frankly, a better place could not be chosen by the World Free Zones Organization to host its first face to face conference since the pandemic.”

Prime Minister Andrew Holness also welcomed the participants from all over the globe in attendance at the conference.

“To each member of the World Free Zones Organization represented here, as well as UNCTAD’s representatives, let me say how pleased we are with your presence. We are honoured that you have chosen Jamaica for this event,” Holness said.

“The COVID-19 pandemic conflict in Europe and geopolitical tensions elsewhere are challenging the world order as we know it. Companies and governments are recognising risks and challenges associated with long distance supply chains and are exploring nearshoring and reshoring options. These challenges require special economic zones to adopt and innovate in order to serve their nations and the world,” Holness told the conference.

“I therefore commend UNCTAD for its partnership in this timely UN global alliance of special economic zones. I also welcome the approach that we see the World Free Zones Organization aligning our most important values and commitment to meet the demands of these new times,” he added.

The Jamaican prime minister stated that he is looking forward to the various initiatives to ensure “that every member of the World Free Zones Organization will become resilient with enhanced capacity to contribute to our various economies through job creations, enhanced global networking and exchange of best practices to build productive capacity.

“Most importantly, special economic zones must become models and champions of sustainability,” he stated.

“I’m confident that as the special economic zones in our various countries become more resilient and sustainable we will see the benefits of this productive alliance with UNCTAD. I am convinced that together as we multiply our resources through collaboration, we will advance our common goal of prosperity and well-being for all.”