MOU signed to grow national exports to US$2.5 billion

Four private and public sector bodies have signed a memorandum of understanding (MOU), agreeing to work together to grow national exports to US$2.5 billion by 2020.                 

The MOU was signed on Wednesday. Jamaica currently exports US$1.6 billion in goods and services.    

The bodies that will be collaborating are the Jamaica Business Development Corporation, Jamaica Exporters’ Association, Jamaica Manufacturers’ Association and JAMPRO.

The objective is to grow Jamaica’s exports through collaboration and efficient use of joint resources.    

Next month, another segment of the partnership will get underway with meetings with new partners, such as the Trade Board.

The group will also have discussions with individual sectors to craft strategies, look at export opportunities and develop market strategy.

Meanwhile, Industry and Commerce Minister Karl Samuda, has endorsed the launch of the Corporate Governance Code by the Private Sector Organisation of Jamaica (PSOJ), which creates a framework to facilitate increased growth.     

He said the updated code is being launched in an environment of growing business confidence.

The code facilitates implementation of best practices and provides entities with a framework to support the implementation and monitoring of principles and policies to improve accountability and transparency.    

Source: RJR News Online

Published Date: December 2nd, 2016