Caribbean Business Reports

Jamaica Promotions Corporation (Jampro) recently signed a memorandum of understanding (MOU) with the Caribbean Chamber of Commerce in Europe (CCCE) as it aims to increase trade and commerce between Jamaica and the UK/Europe, as well as promote European investments into Jamaica.

“This collaboration with the CCCE will be another critical relationship for us in 2021, as we aggressively market opportunities in the Jamaican logistics, digital services, agribusiness and manufacturing sectors …”

— Laurence Jones, manager, Jampro European Regional Office

A one-year agreement, the CCCE and Jampro MOU will focus on projects in key sectors for Jamaica including agriculture and agribusiness, creative industries, energy, global digital (ICT) and knowledge services, logistics and infrastructure, and manufacturing.

Partnerships and promotion

“Partnerships with European business associations is one of the best ways to engage with their corporate members and promote commercial opportunities in Jamaica. These partnerships have supported investment and trade missions to Jamaica resulting in new foreign direct investments as well as export deals,” Laurence Jones, manager of Jampro’s European Regional Office (ERO), explained.

This agreement with the CCCE complements Jampro’s export and investment promotions objectives as well as marketing strategies within the European Union and will, as a result, allow the trade promotion and export agency to expand its reach across Europe and widen the penetration of Jamaican products in European markets, which traditionally have performed strongly in the United Kingdom.

Moreover, Jampro said the MOU is “timely” considering it has ramps up activities that will contribute to Jamaica rebounding from the adverse economic impact of the COVID-19 pandemic, with Europe high on the agency’s list of priority markets.

“This collaboration with the CCCE will be another critical relationship for us in 2021, as we aggressively market opportunities in the Jamaican logistics, digital services, agribusiness and manufacturing sectors, which we believe will contribute to Jamaica’s economic development,” the manager of Jampro ERO stated.

A fruitful exchange

The MOU will address four key areas of partnership to increase business between Europe and Jamaica. Firstly, the partners have agreed to provide market intelligence and market information; they will also find new partners and facilitate business matchmaking; both will offer technical assistance and support; and finally, the MOU will enable the sourcing of investment partners and funding

With its location in Brussels, Belgium, the CCCE will be able to provide much needed advice on various trade issues such as trade compliance (packaging, labelling, distribution) and legal matters.

Already, Jones said, the relationship with CCCE has facilitated meetings with European fresh produce buyers and agribusiness investors who are keen to visit Jamaica in 2021 to pursue their business interests.