Why eCommerce Strategies Are Important in Jamaica & Trinidad & Tobago

The rapid rise of eCommerce presents many opportunities for business, trade, and development in the Caribbean and around the world. Via eCommerce, countries within the Caribbean region can gain higher levels of competitiveness on a global scale and solidify their contributions to the global economy. Therefore, it is imperative that eCommerce strategies are developed and adopted in the public sector within the region.

Recently, on the #FACLive Show , we discussed the importance of eCommerce in the public sector with Carlos Newton, the Manager, Financial Systems Service Delivery for the Trinidad & Tobago Financial Centre (TTIFC), and Diane Edwards, the President of Jamaica Promotions Corporation (JAMPRO). Edwards shared that eCommerce has become a feature of life for Small & Medium Enterprises in Jamaica. She went on to state that during the pandemic, a program entitled ‘ Let’s Go Digital’ was launched to assist Jamaican entrepreneurs to get their businesses online.

How are eCommerce Strategies Enforced in Jamaica?  

• The Government of Jamaica has developed a number of enabling legislation and policies surrounding eCommerce, for example, The National Broadband Network Initiative. 
• Financial System Regulation where the Bank of Jamaica has introduced a FinTech Regulatory Sandbox to encourage innovations in financial services.
  

How are eCommerce Strategies Enforced in T&T?  

• According to Newton, The Trinidad & Tobago Financial Centre is currently collaborating with the Ministry of Works & Transport in Trinidad & Tobago to accept online payments for the issuing and renewal of drivers’ permits and licenses. 
• The TTIFC is working with several stakeholders to improve service delivery for all citizens by adopting digital tools, cashless systems and FinTech applications for the development of e-payments within the public sector.  

Check out our video below to learn more about the importance of eCommerce in the public sector in the Caribbean.

This article is based on a discussion with Carlos Newton, the Manager, Financial Systems Service Delivery for the Trinidad & Tobago Financial Centre (TTIFC), and Diane Edwards, the President of Jamaica Promotions Corporation (JAMPRO).  Sign up to be notified when our CEO, Christopher Burns, goes live on LinkedIn & YouTube to discuss all things e-commerce in Latin America & the Caribbean, on the #FACLive Show.