State Minister in the Ministry of Industry, Investment and Commerce, Dr. the Hon. Norman Dunn.
The Trade Board Limited (TBL) continues to promote the Jamaica Trade Information Portal (JTIP), which provides exporters and importers with data on the regulatory requirements to conduct trade transactions via the Internet.
On Thursday, October 6, representatives from the TBL presented the information portal to the United States Diplomatic Corps.
The presentation demonstrated the trade facilitation tools that are available to assist traders and persons within the Jamaican diaspora in conducting cross-border trade-related activities.
Minister of State in the Ministry of Industry, Investment and Commerce, Dr. the Hon. Norman Dunn, shared that he “is delighted to see that the Trade Board Limited, which is an agency of my Ministry, continues to promote the JTIP and that our country is able to boast the only such platform in the English-speaking Caribbean”.
The JTIP provides a single authoritative source for trade information, relating to import/export regulations, requirements, and processes which businesses can easily access at any time. The portal includes information on standards, tariffs, fees, levies and applicable penalties, various authorisations, inspections, and verifications, as well as details on trade agreements and local business opportunities.
The portal also has downloadable forms for applications, licences, permits, and links to regulatory and other bodies engaged in trade facilitation.
Dr. Dunn said the platform represents this Government’s seriousness about strengthening Jamaica’s trade environment, simplifying processes within an inclusive and enabling business environment, and encouraging wide interest in Jamaica as a worthwhile business destination.
He added that the portal legitimises the trade environment, promotes enhanced efficiencies and modernisation, even as it affirms “our commitment to the World Trade Organization’s Trade Facilitation Agreement under Article I and emphasises digital access to information, for domestic and foreign traders”.
“The ability of governments to seamlessly provide traders with required data is vital, and Jamaica is proud to be a forerunner in the design and implementation of this world-class facility, JTIP,” he added.
Dr. Dunn pointed out that it is a useful tool in lowering trade costs, as it is technologically driven.
“Technology enables faster and more reliable management of data across borders. It increases the speed with which transactions are conducted and it reduces manual effort, which often carries a heavy price tag as a result of errors or incomplete service offerings along the value chain,” he said.
The World Bank’s latest ‘Doing Business Report’ outlines that 175 of 190 world economies have employed some form of electronic data interchange (EDI) systems in their trade operations or are in the process of doing same.
These systems facilitate the quick and reliable exchange of paperless data and play a major role in speeding up customs clearance processes and allowing documents to be shared much more efficiently while reducing cargo dwell time.
Dr. Dunn said: “As Jamaica’s Business Ministry, we remain bullish about the creation of an even more enabling business environment for Jamaica and are benchmarking our efforts against the best in the world,” adding that the Ministry is doing its 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,” the State Minister noted.
“The continued support of development partners, including our local private sector and international business communities will be crucial if we are to be successful, he added.
Since the portal’s launch three years ago, some 43,237 visits have been made to the site, while 1,417 users were recorded across 179 countries as of September 2022.
Source: JIS
Welcome to the official website of the Ministry of Industry, Investment and Commerce.
The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.
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