Private Sector Organisation of Jamaica (PSOJ) President Christopher Zacca yesterday reemphasised the importance of social partnership agreements.
Jamaica in July signed a historic Social Partnership Agreement to create national dialogue and consensus on issues relating to economic growth and development.
Zacca, who was signing the agreement a full decade after the private sector had first sought one, repeated what he had said then, namely that "we don't get to a 140 per cent Debt to GDP ratio and have any easy options remaining", and that "Jamaica's only hope is to come together and unite as a society around common national priorities and principles, and finally do what is right".
For him, the key is not signing the partnership, but sustaining it. He used the OECD definition of social partnership to explain precisely what such an agreement meant "a system of formalised co-operation, grounded in legally binding arrangements or informal understandings, co-operative working relationships, and mutually adopted plans among a number of institutions... [this should involve] agreements on policy and programme objectives and the sharing of responsibility, resources, risks and benefits over a specified period of time." Zacca made the remarks at a high level forum on Jamaica's social partnership and its implications for growth and development of the economy, jointly hosted by the Mona School of Business and Management, the PSOJ and Jamaican's United for Sustainable Development. The other main speakers were Professor Alvin Wint (part of the coordinating committee of the Partnership Council), Indianna Minto Coy (Deputy Director of the Mona ICT Policy Centre) and UWI lecturer Nadeen Spence