Growth & Jobs | JAMPRO aims to increase exports to Cuba through recent inward trade mission

The Jamaica Promotions Corporation (JAMPRO) intensified its effort to increase the export of Jamaican products to Cuba during a four-day inward trade mission that was held last month.

The Cuban trade delegation, comprising 10 government buyers and a representative from the Cuban Chamber of Commerce, visited 15 local factories, attended Expo Jamaica and directly engaged manufacturers to finalise partnerships between Cuban buyers and Jamaican companies.

The delegation and Cuba's ambassador to Jamaica, InÈs Fors Fernandez, also had a meeting with Jamaica's Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw to discuss opportunities for trade between both countries.

The mission has proven successful, as 79 meetings took place with local companies and further discussions were held with Jamaican stakeholders, including the Exim Bank, which offers a line of credit to facilitate exports of Jamaican goods to Cuba, among other types of financing.

Advanced discussions

These activities, in addition to other interventions executed under JAMPRO's Cuban Market Development Programme, have resulted in several of the participating companies now heading to the advanced stages of discussions to export their products to Cuba.

Fernandez said the embassy was pleased with its outcome and anticipated more collaboration with JAMPRO to increase trade between Jamaica and Cuba.

She said, "The ongoing negotiations between Cuban enterprises such as Caracol, ITH, Cubasol, Quimimpex and Jamaican companies like Free Form Factory, GraceKennedy, Wisynco and the National Baking Company are signs of current efforts that will surely lead to concrete business agreements.

The increased knowledge transfer between both Cuba and Jamaica on their respective markets, and the invaluable support provided by JAMPRO and the Chamber of Commerce of Cuba, make us feel confident about the future of trade and economic cooperation between our countries. The Embassy of Cuba wishes to extend a profound appreciation to JAMPRO for making possible this inward mission and for its continued support and effort to build awareness on the potential of both countries' markets."

... Jamaica closer to accessing the Cuban market

As the Cuban government requires several interactions before a company can export to the country, JAMPRO has spearheaded initiatives to promote access to the market, including attendance to the Havana International Fair (FIHAV), relationship-building initiatives with the Cuban Chamber of Commerce, partnership with the Cuban Embassy in Jamaica, and inward trade missions from Cuba in 2015 and 2017.

JAMPRO President Diane Edwards noted that based on the recently concluded inward trade mission, the agency's confidence in this strategy has grown. With the expansion of Cuba's tourism sector, she noted that the country had high demand for various products, especially agricultural and chemical, to support the growth of services-based industries in the country.

She said, "JAMPRO has invested a lot of energy in this market, as we believe in the potential that exists for Jamaican products in Cuba. Jamaica and Cuba have close historical ties, and since we are close to each other in location, shipping expenses can be relatively cheaper and more frequent.

"We believe that if we continue on this path, and connect the right companies to the market, more Jamaican companies will have access to Cuba and we will begin to see the creation of an export market that would be superb for the Jamaican economy. The feedback from the trade delegation has been excellent so far, and we look forward to more success as a result of this mission."