JAMPRO says mission to Cuban trade show FIHAV revealed great potential for Jamaican exporters


After leading a delegation of 10 companies on a trade mission to the Feria Internacional de La Habana (FIHAV) exhibition, held in Havana, Cuba last year, The Jamaica Promotions Corporation (JAMPRO) says it is optimistic about Cuba as an export market for Jamaican products. The Agency says that the Jamaican companies generated significant interest in Cuba, and that there is great potential to increase the export of Jamaican products to the neighbouring Caribbean country.

The companies, which included Agrograce, Ansel Development Ltd., CB Group, Continental Baking Co., Free Form Factory Ltd., Grace Kennedy, Paramount Jamaica, Shipping Association of Jamaica and WISYNCO Trading, participated in 24 trade related meetings with 8 buying companies in Cuba and 2 non-Cuban companies. 8 strong leads were reported from the meetings, with at least 1 company indicating a distributorship relationship in the making. There is also a strong desire expressed by at least 4 companies to return to Cuba in the first quarter of this year to follow-up on interests.

JAMPRO’s interest in the Cuban economy is a result of the country’s expanding services sector. According to a recent market assessment completed by the Agency, Jamaica’s major exports to Cuba are related to the services boom, including chemicals; and manufactured goods such as boxes, crates and other similar articles of plastics, mixtures of juices and unsweetened biscuits. Cuba also largely imports food to sustain its tourism industry, and Jamaica has been tapping into that demand. However, the volume and value of exports from Jamaica to Cuba has room for improvement, especially considering the countries’ geographic and historical proximity.

 With this setting in place, Cuban Ambassador to Jamaica Bernardo Guanche Hernandez said that Cuba will be maintaining its business relationship with Jamaica, and is looking for more opportunities to cooperate on trade and investment matters. He said that by partnering with JAMPRO and other agencies, the Cuban Embassy would be working towards translating this relationship to economic development for both countries. About Jamaica’s participation in FIHAV, he noted, “This (attendance at FIHAV) is another example of the relationship between Jamaica and Cuba moving forward in the trade and business field. It is very important to keep and develop the relationships between our countries and we should look for more space to develop our trade.”

 

We have potential to find linkages and bonds. After the visit of the Deputy Minister of Investment and Trade of Cuba to Jamaica last May, we have been moving in order to develop support to Jamaica in fields like agriculture which we feel we can develop the relationship more,” Hernandez explained.

Source: 
JAMPRO
Published Date: 
Monday, February 13, 2017
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