JIS News

Minister of Industry, Investment, and Commerce, Hon. Karl Samuda, tabled Jamaica’s National Export Policy (NEP) during his 2009/10 Budget Debate presentation at Gordon House today (Wednesday, April 29).
Mr. Samuda said that the policy was developed 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.
It is expected to serve as a road map for local exporters, providing a menu of solutions to facilitate the export trade in ways.
The Minister explained that the Policy seeks to increase the current value of non-traditional exports by 50 per cent 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.
He said that the Government is endeavouring to support the business community, by providing as many incentives as well as technical assistance as is possible.
He also pointed out that, under the Modernisation of Industry Programme, administered by JTI, over J$285.3 million 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 mobilised a total of $67 million 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 their countries out of debt, the Minister stressed that these sectors 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,” he stated.

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