Judith Slater | Boosting bilateral trade between Jamaica and the UK a top priority

It will have escaped few people’s attention that Minister of Industry, Investment and Commerce Aubyn Hill is passionate about increasing Jamaican exports and unlocking the huge potential of increased trade to boost growth. As the representative of another island nation, I’m equally enthusiastic about ensuring that fantastic British products like those of Waitrose, Diageo and Tunnocks are making it on to Jamaican shelves.

I’ve been working hard to support our trading relationship, ensuring Jamaican consumers have access to quality UK products and services, while simultaneously supporting Jamaican exporters to access the UK market. I’m delighted to see these efforts starting to pay off with some impressive growth. We’ve seen a strong bounce-back since COVID-19 and the latest data show annual trade between our countries up a remarkable 40 per cent to over J$100 billion.

Trade is a central driver of economic growth, supporting jobs and contributing to strong, resilient economies in both Jamaica and the UK. But what does this mean in practice? It means significant employment, sustained by the British love for Jamaican rum, fruits and vegetables. It also means cheaper access to a wide range of goods and services for Jamaican consumers. For example, Jamaicans now pay zero import duties on vehicles from the UK, thanks to the preferential terms agreed in our development-focussed free trade agreement. The UK-Cariforum Economic Partnership Agreement provides duty-free access to the UK market for Jamaican exporters, offering a significant advantage over competitors. Meanwhile, Caribbean countries like Jamaica are gradually reducing tariffs over time, allowing cheaper access for UK products, while sensitive local goods remain protected.

Despite these clear advantages, we’re still not close to realising the full potential of our trading relationship. Substantial benefits remain to be unlocked and I’ve been working closely with partners in Jamaica and the UK to sustain this upward trajectory.

Last September, I was in London to welcome a Jamaican delegation – led by Senator Hill – to the UK-Jamaica Trade and Investment Forum, hosted by JAMPRO and Developing Markets Associates. The event brought together government officials, industry leaders, entrepreneurs, and investors from both the United Kingdom and Jamaica to foster collaboration, explore trade opportunities and strengthen economic ties between our two countries. I was back in November for the inaugural UK-Caribbean Trade and Investment Forum, which brought together 250 senior government and private sector delegates from 15 Caribbean countries, forging further links and creating business opportunities.

IDENTIFY OPPORTUNITIES

As well as supporting trade missions in both directions, my team here in Kingston work day in day out to identify opportunities for UK firms to bring quality goods, services and investment into the Jamaican market. Recent successes include British company De La Rue being behind Jamaica’s new and practical polymer banknotes which couple state of the art security with durability and style.

Beyond fostering business links, I’ve also been working hard to ensure UK government-backed financing and development aid are supporting growth and trade in Jamaica. For example, the UK has contributed US$10m to Compete Caribbean, a programme which supports businesses to become more productive and competitive in the global market, while working to make Jamaica and the region an even more attractive business destination, through policy and regulatory reforms. Some of this funding recently helped the Jamaican Conch Cluster become the world’s first such cluster to achieve the respected sustainability certification from Marine Stewardship Council (MSC) certification.

We’re investing in infrastructure too. The UK has put US$69m into major agricultural projects in St Catherine, Clarendon and St Elizabeth through the UK Caribbean Infrastructure Fund, upgrading irrigation, roads and facilities to improve productivity and market access for farmers, better enabling them to trade and grow.

Back in 2022, I joined Finance Minister Nigel Clarke to welcome the return of British international investment to the Caribbean. The development finance institution invests to support productive, sustainable and inclusive economies. Ten million US dollars has been invested in supporting dynamic, high-potential businesses across the region through the Small Enterprise Assistance Funds’ Caribbean SME Growth Fund, with the aim to create hundreds of jobs.

There is also up to £2bn in financing available for projects in Jamaica that need only involve minimal UK content through UK Export Finance (UKEF) – the UK government’s export credit agency. UKEF support can unlock major projects to benefit Jamaica through financing that wouldn’t otherwise be available. UKEF has a long track record of supporting bridges, airports, hospitals, roads, mass transportation, renewable power generation and national security solutions, and there are ongoing discussions about a number of exciting projects in Jamaica.

I’m proud of the bounce-back in bilateral trade we’ve seen since COVID-19, but there is so much further to go. I am looking forward to continuing the productive relationship we have established with Senator Hill, JAMPRO, the Jamaican business community – and to more success in 2024.

Judith Slater is the British High Commissioner to Jamaica. Send feedback to ppa.kingston@fcdo.gov.uk