Jampro leading the way in this endeavour
The Stabroek News in Guyana is highlighting the fact that Jamaica is outstripping its country in pursuing external markets for locally produced goods.
The media house is pointing to Jamaica, which has been urging its micro, small and medium enterprises (MSME’s) to take advantage of the business opportunities being created for them by the state-runned Jamaica investment promotions agency, Jampro.
Jampro is doing this to enable these MSMEs to tap into new markets being created for them, thus broadening their access to external markets by taking advantage of prospects that are presenting themselves under various preferential trade agreements to which Jamaica is a party.
Searching out trading opportunities
Over the years, Jamaica has distinguished itself among member countries of CARICOM for aggressively seeking out opportunities for locally produced goods to secure high visibility on the international market.
Case in point is last month when the Guyana government confirmed that Jamaican companies had responded positively to its request for foreign supplies to export stones to the Caribbean/South American country even as it acknowledged that the demand for the material remains greater than is available.
Public Works Minister, Juan Edghill, told the pro-government online publication, News Room that its booming construction sector has resulted in stone and sand suppliers significantly increasing their prices and that the Irfaan Ali government remains committed to engaging suppliers to resolve the issue. Since last year, Guyana has been experiencing shortages in cement and stone largely due to external supply chain challenges.
That situation has worsened with the Ukraine/ Russia crisis further constraining global supply chain efforts.
Second recent trade mission to Guyana
Jamaica’s Minister of Industry, Investment and Commerce, Senator Aubyn Hill earlier this year led a second Trade Mission to Guyana with over 70 members representing 40 companies forming the Jamaica Delegation. The Trade Mission to Guyana was very privileged to have the Vice President of Guyana, Dr. Bharrat Jagdeo address a special question and answer session with members of the Jamaican delegation.
There were business sectors including construction, finance, manufacturing, education, cyber security and technology that were represented by the business leaders of these companies. Vice President Jagdeo welcomed the potential business partnerships and outlined the various steps the Government of Guyana has taken to encourage foreign investment in the housing construction industry and the importation of construction raw materials.
He also encouraged discussions between Guyanese and Jamaican businesses to take advantage of existing incentives and upcoming contract opportunities. The second Ministerial Trade Mission was sponsored in part by itel Jamaica and Jamaica Broilers. It was organized by the Ministry of Industry, Investment and Commerce, Jampro, the Georgetown Chamber of Commerce and the Guyana Manufacturing and Services Association.
The first trade mission was held in October last year.