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Jamaican Free Zones
The Jamaican Free Zones are a government free trade zone initiative in Jamaica. Designed to encourage foreign investment and international trade, businesses operating within these zones have no tax on their profits, and are exempted from customs duties on imports and exports (capital goods, raw materials, construction materials, and office equipment) and import licensing requirements. They must export 85 percent of their products outside the Caribbean Community (CARICOM). Free trade zones There are five Jamaican Free Zones: *Kingston Free Zone (KFZ) in Kingston was established in 1976 on land adjacent to the Kingston Container Terminal. It was the first free zone established in Jamaica. The site contains of factory space. *Montego Bay Free Zone (MBFZ) in Montego Bay was established in 1985 on a site southwest of the city. It has of factory/office space. An additional of space is being added specifically for information technology.http://www.american.edu/initeb/js1513a/g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Zone
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Definition The World Bank defines free trade zones as "small, fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations". Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services. Synonyms Free-trade zones are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Refining
{{Unreferenced, date=December 2009 Refining (also perhaps called by the mathematical term affining) is the process of purification of a (1) substance or a (2) form. The term is usually used of a natural resource that is almost in a usable form, but which is more useful in its pure form. For instance, most types of natural petroleum will burn straight from the ground, but it will burn poorly and quickly clog an engine with residues and by-products. The term is broad, and may include more drastic transformations, such as the reduction of ore to metal (for which see Refining (metallurgy)). The refining of liquids is often accomplished by distillation or fractionation; this process is useful, for example, for isolating different fractions of petroleum. Gases can be refined in this way as well, by being cooled and/or compressed until they liquefy. Gases and liquids can also be refined by extraction with a selective solvent that dissolves away either the substance of interest, or th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entrepôt
An ''entrepôt'' (; ) or transshipment port is a port, city, or trading post where merchandise may be imported, stored, or traded, usually to be exported again. Such cities often sprang up and such ports and trading posts often developed into commercial cities due to the growth and expansion of long-distance trade. These places played a critical role in trade during the days of wind-powered shipping. In modern times customs areas have largely made entrepôts obsolete, but the term is still used to refer to duty-free ports with a high volume of re-export trade. ''Entrepôt'' also means 'warehouse' in modern French, and is derived from the Latin roots 'between' + 'position', literally 'that which is placed between.' Entrepôts had an important role in the early modern period, when mercantile shipping flourished between Europe and its colonial empires in the Americas and Asia. For example, the spice trade to Europe, which necessitated long trade routes, led to a much higher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Jamaica
The prime minister of Jamaica is Jamaica's head of government, currently Andrew Holness. Holness, as leader of the governing Jamaica Labour Party (JLP), was sworn in as prime minister on 7 September 2020, having been re-elected as a result of the JLP's landslide victory in the 2020 Jamaican general election. The prime minister is formally appointed into office by the governor general, who represents King Charles III. Official residence and office The prime minister of Jamaica's official residence is Vale Royal. The property was constructed in 1694 by the planter Sir William Taylor, who was one of the richest men in Jamaica at the time. In 1928 the property was sold to the government and became the official residence of the British colonial secretary (then Sir Reginald Edward Stubbs). Vale Royal has subsequently become the official residence of the prime minister. Vale Royal is not open to the public. has been the location of the Office of the Prime Minister since 1972. Prim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Manley
Michael Norman Manley (10 December 1924 – 6 March 1997) was a Jamaican politician who served as the fourth Prime Minister of Jamaica from 1972 to 1980 and from 1989 to 1992. Manley championed a democratic socialist program, and has been described as a populist. According to opinion polls, he remains one of Jamaica's most popular prime ministers. Early life Michael Manley was the second son of premier Norman Washington Manley and artist Edna Manley. He studied at Jamaica College between 1935 and 1943. He attended the Antigua State College and then served in the Royal Canadian Air Force during World War II. In 1945, he enrolled at the London School of Economics. At the LSE, he was influenced by Fabian socialism and the writings of Harold Laski. He graduated in 1949, and returned to Jamaica to serve as an editor and columnist for the newspaper ''Public Opinion''. At about the same time, he became involved in the trade union movement, becoming a negotiator for the Natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life And Debt
''Life and Debt'' is a 2001 American documentary film directed by Stephanie Black. It examines the economic and social situation in Jamaica, and specifically how the International Monetary Fund and the World Bank's structural adjustment policies have impacted the island. Content ''Life and Debt'' is a 2001 United States documentary film directed by Stephanie Black about the economic and social situation in Jamaica, and specifically the impact of International Monetary Fund (IMF) and the World Bank's policies. It starts with the essay " A Small Place" by Jamaica Kincaid. The IMF loans were conditional on structural adjustment policies, which required Jamaica to enact major economic reforms, including trade liberalization, privatization, and deregulation. Reforms were not successful and left Jamaica with $4.6 billion in debt. The film features a number of interviews with former Jamaican Prime Minister Michael Manley, in which he critiques the system of International Financial I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweatshop
A sweatshop or sweat factory is a crowded workplace with very poor, socially unacceptable or illegal working conditions. Some illegal working conditions include poor ventilation, little to no breaks, inadequate work space, insufficient lighting, or uncomfortably/dangerously high or low temperatures. The work may be difficult, tiresome, dangerous, climatically challenging or underpaid. Workers in sweatshops may work long hours with unfair wages, regardless of laws mandating overtime pay or a minimum wage; child labor laws may also be violated. Women make up 85 to 90% of sweatshop workers and may be forced by employers to take birth control and routine pregnancy tests to avoid supporting maternity leave or providing health benefits. The Fair Labor Association's "2006 Annual Public Report" inspected factories for FLA compliance in 18 countries including Bangladesh, El Salvador, Colombia, Guatemala, Malaysia, Thailand, Tunisia, Turkey, China, India, Vietnam, Honduras, Indonesia, Brazil, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Subsidy
Export subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through direct payments, low-cost loans, tax relief for exporters, or government-financed international advertising. An export subsidy reduces the price paid by foreign importers, which means domestic consumers pay more than foreign consumers. The World Trade Organization (WTO) prohibits most subsidies directly linked to the volume of exports, except for LDCs. Incentives are given by the government of a country to exporters to encourage export of goods. Export subsidies are also generated when internal price supports, as in a guaranteed minimum price for a commodity, create more production than can be consumed internally in the country. (These price supports are often coupled with import tariffs, which keeps the domestic price high by discouraging or taxing imports on the difference between the world price and the mandatory minimum.) Instead of letting the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doha Development Round
The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus facilitate increased global trade. The Doha Agenda began with a ministerial-level meeting in Doha, Qatar in 2001. The aim was to put less developed countries' priorities at heart. The needs of the developing countries were the core reasons for the meeting. The major factors discussed include trade facilitation, services, rules of origin and dispute settlement. Special and differential treatment for the developing countries were also discussed as a major concern. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Paris, France (2005), Potsdam, Germany (2007), and Geneva, Switzerland (2004, 2006, 2008). Progress in negotiations stalled af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governmentsUnderstanding the WTO' Handbook at WTO of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Service Industry
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end products. Services (also known as " intangible goods") include attention, advice, access, experience and affective labor. The production of information has been long regarded as a service, but some economists now attribute it to a fourth sector, called the quaternary sector. The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment. The goods may be transformed in the process of providing the service, as happens in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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