Our strong diplomatic ties work in our clients’ favour!
Jamaica benefits from numerous trade agreements. Over the years, they have encouraged the unrestricted flow of goods and services, reduced or eliminated quotas and tariffs, and have opened up worthwhile business opportunities in new markets.
- Jamaica is not just a beautiful island, with amazing people, stunning nature, rich in cultureand a tasty gastronomy, but also a great place to do business. This is the reason morethan 3000 of our world-class leisure rooms are in this marquee destination. One greatbrand deserves another!
Strong Global Linkages
Jamaica is a liberal open economy with strong trade agreements with numerous countries.
- Jamaica is a member of the World Trade Organisation
- Jamaica is a member of the Caribbean Community and Common Market (CARICOM), which allows for free trade among its fifteen full member countries.
- The country enjoys multilateral trade and partnership agreements with North and South America, the Caribbean and Europe, which facilitates greater flow of goods and capital.
- Jamaica benefits from the Generalised System of Preferences (GSP) that affords reduced duties for products exported to Australia, Japan, Belarus, New Zealand, Norway, Switzerland and Russian Federation.
- Products of Jamaican origin are not subjected to import duties in CARICOM member states.
- The union facilitates economic integration and trade coordination among the 15 member states and 5 associates.
- Allows for the elimination of UK customs duties on all goods under chapters 1- 97, except for 93.
- CARIFORUM and the UK entered into an agreement in March 2019, pending Brexit, that provides UK market access.
- Allows apparel manufactured from U.S. yarns and fabric, as well as non-textile products excluded from earlier CBI legislation, to enter the U.S free of quota and duty.
- Guarantees duty free access to products wholly grown or produced in Jamaica with substantial transformation made to those sourced from third parties.
- Most products manufactured or grown in CBI beneficiary countries are eligible for duty-free entry into the United States, such as:
- Electronic and electro-mechanical assembly, handicrafts, giftware, wood products, recreational items, fresh and frozen seafood, tropical fruit products and winter vegetables, ethnic and specialty foods, such as sauces, spices, liqueurs and jams and medical and surgical supplies
- Grants goods from Jamaica duty free access to Costa Rica, apart from a selected list of commodities which includes but is not limited to seafood, dairy products, citrus fruits and chocolate.
- Grants temporary duty-free admission to some goods, including professional equipment, equipment for press, broadcasting and cinematography, sporting goods for display and commercial samples.
- Qualifies goods that are wholly produced in Jamaica for duty free allowance, or those sourced from third parties with significant transformation done to them.
- Allows duty free access of most goods traded between Jamaica and the Dominican Republic with some exceptions for agricultural goods, sauces, and other commodities.
- Grants duty free status to goods that are wholly produced in the country of origin
- Grants duty free status to goods that are sourced from third parties, once significant transformation is done so that it changes the product classification.