YESTERDAY SAW the launch of the Canada-Jamaica Business Council (CJBC), is hosted by the Canadian High Commission on October 20, 1999 at the Hilton Hotel, Kingston.

Canada's new High Commissioner to Jamaica, John Robinson, and Finance Minister Dr. Omar Davies addressed the function. Mr. Robinson discussed the Canadian perspective regarding trade and investment linkages into the new millennium. Dr. Davies delivered the keynote address on 'Jamaica's Economic Development Strategy for the 21st Century'.

In recent times there has been a clear trend toward regional and hemispheric integration, exemplified by CARICOM, NAFTA and the current discussions on the FTAA.

'The CJBC's objective is to facilitate the development and networking of trade, commercial and investment linkages between Canada and Jamaica, as well as providing a forum for advocacy on policies with a view to enhancing these linkages and supporting bilateral trade and investment,' he stated.

The launch came as Canada's trade surplus widened in August to C$3.58 billion, the highest level since September 1996, as relentless US demand and a burgeoning auto sector drove exports to record levels in the month.

The surplus, the highest since September 1996, exceeded already rosy market expectations of a C$3.35 billion surfeit, and made it almost certain that Canada's current account would burst into black ink in the third quarter.

"The current account will be in surplus for this quarter, so I think that will end up being the big story over any sort of longer time frame," said Mark Chandler, senior economist at Goldman Sachs in Toronto.

A current account surplus - one hallmark of a healthy economy - has not been seen in Canada since the fourth quarter of 1996, and economists had previously predicted a surplus only at the end of the year.

A year-to-date trade surplus of C$22.1 billion - with four months still to go - means Canada should be able to more than offset the deficit of about C$36 billion that is chalked up every year from servicing the nation's international debts.