2009-05-05

EXPORT POLICY TO SERVE AS ROAD MAP

Minister of Industry, Investment, and Commerce, the Hon. Karl Samuda, on Wednesday, April 29, unveiled Jamaica’s National Export Policy (NEP), during his presentation in the 2009/10 Budget Debate at Gordon House.

Mr. Samuda said that the policy, development of which was led by the Government’s investment promotion arm, Jamaica Trade and Invest (JTI), AND the Jamaica Exporters Association (JEA), with assistance from the International Trade Centre in Geneva, is expected to serve as a “road map for our exporters, (while providing) a menu of solutions to facilitate the export trade in ways, never before seen.”

The Minister explained that the Policy will seek to increase the current value of non-traditional exports, by 50 percent, by 2012; increase the contribution of services exported as a percentage of overall exports, with emphasis on the professional services and creative industries sectors; and increase penetration of existing markets, and access new and emerging ones.

For its part, he said the Government is endeavouring to support the business community by providing as many incentives, technical assistance, and support as is possible.

“Under the Modernization of Industry Programme, administered by JTI, over J$285.3M in General Consumption Tax (GCT) waivers were afforded to the business community on capital equipment valued at over J$1.7B.”

“During the course of last year, JTI also provided technical assistance to over 183 clients. As at the end of February, JTI mobilized a total of $67M in technical assistance funding from mainly international sources for the business community,” Mr. Samuda outlined.

Noting the pivotal roles which strong productive and export sectors play in lifting any country out of debt, the Minister stressed that these are key in Jamaica’s drive towards growth and prosperity.

“We must focus on building the global competitiveness of all our industries to deliver quality, whether they provide goods and services for buyers in the local market, or buyers in the international marketplace. And that’s why I am proud of this (National Export Policy) document,” Mr. Samuda stated.