The Trade Board Limited (TBL), which is an agency of the Ministry of Industry, Investment & Commerce has partnered with the Ministry of Foreign Affairs and Foreign Trade to host members of the United States diplomatic corps for an information session on the Jamaica Trade Information Portal (JTIP).

Speaking at the event, held October 6, Dr Norman Dunn, minister of state in the Ministry of Industry, Investment and Commerce, said “the JTIP is one aspect of the modernised trade ecosystem being built by the Government of Jamaica to improve data access across borders”.

He emphasised that “the ministry is bullish about the creation of an even more enabling business environment within Jamaica and are benchmarking our efforts against the best in the world. JTIP is one of several critical investments in this regard and it is encouraging to see that since its launch three years ago, some 43,237 visits have been made to the site and that some 1,417 users were recorded across 179
countries as at September, 2022”.

Noting the importance of exports to Jamaica’s economic prospects, Dunn said investments are being made to build capacity which is a critical tool in helping to further enhance the country’s trade environment.  

“We are highly integrated with the world economy in terms of demand and supply, and with a trade imbalance that in 2021 saw imports of approximately US$5.98 billion against exports, of some US$1.4 billion there is much work to be done,” Dunn said.

He charged the Trade Board Limited to “explore the areas of trade imbalance in Jamaica and target those countries that import very little from Jamaica for greater sensitisation on the value of this platform”.

Dr Hugh Blake, trade administrator/CEO of the Trade Board Limited, pledged the agency’s commitment to increased public education efforts that will boost the utilisation of JTIP as key resource.

“The Jamaica Trade Information Portal is the only platform of its kind in the English-speaking Caribbean that boasts a rich database of trade-related information, measures, forms, procedures, HS codes and other noteworthy information which is designed to assist traders with seamless export and import of products,” he added.

“JTIP is a rounded information tool that provides access. This activity forms part of TBL’s public education efforts to cement awareness and accessibility of JTIP as part of a wider promotional endeavour.”

In this regard, the Ministry of Foreign Affairs and Foreign Trade, through Joan Thomas-Edwards, Under-Secretary, Foreign Trade Division, pledged greater collaboration through its Economic Diplomacy Programme under way, in partnership with JAMPRO, to host additional online quarterly information sessions with Missions and Foreign Service Agents across the world.

The Under-Secretary further noted that “the MFAFT has been a valuable and worthy partner in bringing JTIP into fruition”.

She declared that “JTIP is one of the major planks in the process of trade facilitation and doing business. The aim of it is to strengthen Jamaica’s development. As a small developing country, trade is the life blood of our existence. It is therefore logical that we have to create efficient systems to spur effective trading practices which result in increased competitiveness and export/import balance”.

Then, she stressed the need for greater policy coherence and a joined up Government approach to improving the trade environment and by extension, our national development.

Hence, as part of the Government’s robust trade reform, Dunn explained that “through ongoing capacity building and support for local businesses, the creation of sound investment opportunities, attractive financing arrangements and increased digitalisation in business, we are creating the right environment for a robust and responsive, data driven and efficient trade ecosystem.

“We are doing our part to build and maintain a more modernised trade ecosystem in Jamaica. These advancements will broaden our footprint within traditional markets while increasing our attractiveness to new markets for the import and export of goods and services. JTIP places us in a better position to assist businesses reduce costs and increase output through the kinds of efficiencies it creates, giving greater incentives for business creation and expansion within the global value chain,” revealed Dunn.