Business in Jamaica, Kingston

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

1. To analyse the Jamaican Economy and Foreign Trade (Import, Export, FDI)
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 Free Trade Agreements (FTAs)
5. To examine the profile of Jamaican businesspeople and companies
6. To develop a business plan for the Jamaican Market

Jamaican Preferential Access and Free Trade Agreements (FTA)

1. Jamaica and the Caribbean Economic Area
2. CARICOM
   1. Colombia-Jamaica (CARICOM) Agreement (FTA)
   2. United Kingdom-CARIFORUM Free Trade and Economic Integration Agreement
   3. Costa Rica-Caribbean Community (Jamaica) Agreement
   4. CARIFORUM-European Union (EU) Economic Partnership Agreement
   5. CARICOM-Dominican Republic Free Trade Agreement (FTA)
3. Caribbean Single Market Economy (CSME)
4. Caribbean Basin Initiative
   1. United States-Caribbean Basin Trade Partnership Act (CBTPA)
5. Caribbean-Canada Trade Agreement (CARIBCAN)
6. Association of Caribbean States (Jamaica)
7. Latin American and Caribbean Economic System (SELA)
8. Caribbean Development Bank

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)

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

1. Organisation of American States (OAS)
2. Economic Commission for Latin America and the Caribbean (ECLAC)
3. Inter-American Development Bank (IDB)
4. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit

Global Organisations

1. The Commonwealth
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organisation (WIPO)
3. World Bank (WB)
4. World Trade Organisation (WTO)
5. International Monetary Fund (IMF)
6. World Customs Organisation (WCO)

Jamaica

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 square kilometres
7. Independence of Jamaica: 1962 from the United Kingdom
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 Civilisation

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