Trade between US, Jamaica remains resilient during pandemic

Chargé d’Affaires at the US Embassy in Kingston, John McIntyre, says trade between the United States and Jamaica has remained resilient during the COVID-19 pandemic, which augurs well for both countries.

Speaking recently during a Membership Mingle, hosted by the American Chamber of Commerce of Jamaica, McIntyre said according to the US Department of Commerce, for the first quarter of 2021, US companies exported over US$400 million worth of goods and services to Jamaica, while for the same period, Jamaican companies exported over US$100 million worth of goods and services to the United States.

He said Jamaican exports to the United States increased by 16 per cent in the first quarter of 2021 over 2020, and encouraged more exports to the United States.

He said there are indications that tourist arrivals in Jamaica will continue to increase with the full vaccination of more Americans.

Turning to the issue of energy, McIntyre said the United States Agency for International Development has established a three-year,US$4-million initiative called the Jamaican Energy Resiliency Alliance, which aims to boost the energy sector’s resiliency.

He reiterated that the US Embassy is focusing on medical and energy resiliency, to support Jamaica now and for the future.

He noted that the new activity expands renewable energy technology, availability and accessibility for businesses and key Jamaican sectors, including tourism and manufacturing.

McIntyre said this Global Development Alliance has the potential to leverage upwards of US$50 million in private-sector investments for solar and battery installation, and includes scholarships and workforce development opportunities to drive employment and the growing renewable energy sector.

He encouraged Jamaican companies that are looking to adopt clean technologies to reduce their carbon footprint to consider the initiative.

McIntyre spoke of the close ties with AmCham Jamaica and encouraged member companies to enquire about the various opportunities through the AmCham Jamaica office, as they can help to provide guidance and will also facilitate contacts with his office.

In her remarks, AmCham President Ann-Dawn Young Sang also encouraged members to contact the secretariat for assistance and to utilise the services offered.

Both Young Sang and McIntyre noted the low uptake of Jamaican companies in taking advantage of the benefits offered under the Caribbean Basin Initiative.

She also updated members on the various discussions that have taken place with the US Chamber of Commerce, and the Association of American Chambers of Commerce of Latin America and the Caribbean on a number of issues, ranging from Jamaica as an ideal option for near-shoring opportunities, asking the US Chamber to advocate for Jamaica and the wider Caribbean to receive vaccines from the US government; attracting more foreign direct investment to Jamaica, as well as continuing to seek, develop and further strengthen trade ties between the United States and Jamaica.