Foreign trade policy, portal launched

The Government today launched its National Trade Information Portal, which is aimed at improving doing business with Jamaica.

At the same, the Government unveiled the National Foreign Trade Policy and Consultancy, which will complement the portal.

It is the first trade portal in the Caribbean and is among the few already established worldwide.

The portal, which is expected to become operational in mid-2019, is a joint effort by the Ministries of Foreign Affairs and Foreign Trade and the Ministry of Industry, Commerce, Agriculture, and Fisheries.

The policy is the combination of principles, laws, regulations, and agreements related to trade.

It speaks to the strengthening of Jamaica's integration into the global economy while managing the flow of imports in line with international standards and national development strategies.

Additionally, the policy seeks to facilitate the maintenance and development of trade rules as well as providing predictability and security for firms engaged in trade.

"This Foreign Trade Policy will provide a blueprint for Jamaica's trading relationship with the world and better enable the business community by providing a one-stop shop to get information on import-export regulations and procedures," Foreign Affairs and Foreign Trade Minister Senator Kamina Johnson Smith said.

For his part, Audley Shaw, Minister of Industry, Commerce, Agriculture, and Fisheries said that move is a modern, coordinated approach to doing business at international standards.

“It is another major step towards modernising our entire trading infrastructure,” Shaw said.

Jamaica is ranked 70 out of 190 countries in the World Bank’s Ease of Doing Business Rankings for 2018.

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