Doing Business in Jamaica

The aims of the subject “Foreign Trade and Business in Jamaica” are the following:

1. To analyze the Jamaican Economy and Global Trade;
2. To know the business opportunities in Jamaica;
3. To explore the Jamaican trade relations with the country of the student;
4. To know the Jamaican Trade Agreements;
5. To examine the profile of Jamaican businesspeople and companies;
6. To develop a business plan for the Jamaican Market.

The Subject “Foreign Trade and Business in Jamaica” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Languages: or Jamaica Jamaica.

Credits of the subject “Foreign Trade and Business in Jamaica”: 1

Jamaican Preferential Access and Free Trade Agreements

1. Jamaica and the Caribbean Economic Area;
2. CARICOM
   1. Colombia-Jamaica (CARICOM) Agreement (FTA);
   2. UK-CARIFORUM Free Trade and Economic Integration Agreement;
   3. Costa Rica>-CARICOM (Jamaica) Agreement;
   4. CARIFORUM-EU Agreement;
   5. CARICOM-Dominican Republic FTA.
3. Caribbean Single Market Economy (CSME);
4. Caribbean Basin Initiative
   1. The U.S.-Caribbean Basin Trade Partnership Act.
5. Caribbean-Canada Trade Agreement;
6. Association of Caribbean States (Jamaica);
7. SELA;
8. Caribbean Development Bank.

1. WTO
   1. GATS;
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   Agreement on Preshipment Inspection;
   4. Agreement on Safeguards;
   5. Trade Facilitation Agreement.
2. WCO
   1. Kyoto Convention.

American Trade and Economic Organizations. Jamaica is a member of:

1. OAS;
2. ECLAC;
3. Inter-American Development Bank;
4. CELAC
   1. EU-CELAC Summit.

1. The Commonwealth;
2. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
3. WB;
4. WTO;
5. IMF;
6. WCO.

1. Jamaica has a strategic location in the Caribbean;
2. Jamaican language: English;
3. Capital of Jamaica: Kingston (937,700);
4. Jamaican population: 2.7 million people;
5. Life expectancy at birth: seventy-four years;
6. Jamaican Area: 10,991 km²;
7. Independence of Jamaica: 1962 from the UK;
8. Abolition of Slavery in Jamaica: 1854;
9. African Diaspora in Jamaica: 2.6 million people (97% of the Jamaican population).

Main religion in Jamaica: Christianity (95% are Catholics).

Jamaica belongs to the Caribbean Economic area of the Western Civilization.

Jamaican Economy.

1. A Market economy;
2. Jamaican GDP: 14.36 billion dollars;
3. Services: 80% of the Jamaican GDP;
4. Jamaican agriculture sector: 6.8% of the GDP;
5. Jamaica is the logistics hub of the Caribbean;
6. Stable business environment;
7. Key sectors of the Jamaican Economy: information and communications technology, manufacturing, tourism, Business Process Outsourcing, distribution, Maritime services, and Logistics;
8. Government Vision 2030 National Development Plan;
9. Currency of Jamaica: Jamaican dollar.

Jamaican Foreign Trade.

1. Jamaican top exports: fine food (spices, rum, Blue Mountain Coffee) and beverage;
2. FDI inflows (2004-14): 6,71 billion dollars;
3. Jamaican exports of goods: 1.4 billion dollars;
4. Export: 10.6% of the Jamaican GDP;
5. Port of Kingston: The largest container hub in the Caribbean;
6. Export companies in Jamaica should register in JAMPRO;
7. Jamaican agency responsible for attracting FDI: JAMPRO.

(c) EENI Global Business School (1995-2023)
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