Growth & Jobs | Booming bamboo industry: JAMPRO to attract investors

Below is a statement from JAMPRO regarding the bamboo industry.

Interest in bamboo products continue to rise as the demand for even more value-added products made from the plant increases globally. This finding is evidenced in reports by the World Trade Organization and The United Nations Conference on Trade and Development, which note an increasing trend with consumers seeking environmentally friendly alternatives to existing products on the market.

Tissue, paper, bed sheets, cups, kitchen and facial towels, diapers, furniture and home accent pieces are just a few examples of the many products made from the tall stalk-like plant. Its versatility has been noted by Jamaican and international investors.

As Jamaica is a large producer of the plant, the country is being promoted as a location for bamboo by-product manufacturing and investments. The bamboo industry is big business globally, and for years, Jamaica has tried to tap into this US multimillion-dollar trade, with the aim of exporting more bamboo by-products globally. According to the latest studies reported by the International Trade Centre, global imports were estimated at US$1.63 billion in 2017 and is growing steadily, with the most lucrative markets for the product found in the United States and the Netherlands.

Locally, bamboo will be useful to help fill the gap with the ban on the importation and use of plastic and polystyrene containers.

POTENTIAL INVESTORS

With the potential for environmental improvement, coupled with the prospects to garner foreign exchange, it is clear that Jamaica must tap into the industry, which already seems to be happening, as JAMPRO, the Government’s promotion and investment agency, has reported that a number of local and international investors have expressed interest in the sector, particularly in manufacturing products from bamboo and exploiting the value chain.

The cultivation and production of bamboo will be done within the parameters of global standards that encourage investment and safeguard protected bamboo spaces. A structure will also be implemented to ensure growers and sellers of bamboo are registered with a traceability programme implemented to assure quality and standards across the board.

The Bureau of Standards Jamaica (BSJ) is already a watchdog for the industry and the only internationally certified bamboo agency in Jamaica. The agency has, for the past several years, intensified its training in the area of bamboo production.

VALUABLE INSIGHT

The BSJ has gained valuable insight through being a member of the International Network for Bamboo and Rattan, an intergovernmental organisation dedicated to promoting the benefits to users and producers of bamboo and rattan within the context of a sustainable resource base.

The importance of standards and other issues were discussed at a three-day Caribbean International Bamboo Symposium, held in November 2018. The symposium was staged under the theme: ‘Bamboo: An Economic, High-Value Chain Resource for the Caribbean’. There, a consensus was reached that the region must collaborate now to reap mega benefits.

With this regional collaboration, and industry guidelines to maintain the high quality of Jamaican bamboo by-products, JAMPRO hopes to attract investors who will support the diversification of manufacturing in Jamaica, and the development of new products made from the plant. The agency will be working with its various partners to facilitate innovation and investment into the booming bamboo industry.