JAMPRO leads successful mission to the Dominican Republic

The Jamaica Promotions Corporation (JAMPRO) has broken new ground into the Dominican Republic market strengthening trade relationships and reporting significant trade leads for the delegation of 15 exporters who participated in a recent mission to Santo Domingo and Santiago.

The mission, which took place from September 10 -14, marked the first time that JAMPRO has led a trade mission to the Dominican Republic and was executed with the support of the Caribbean Export Development Agency in collaboration with the Jamaica Manufacturers’ Association (JMA). The mission comprised of two business forums, site visits, meeting with government and private sector agencies, over 50 business meetings with potential trading partners such as retail giants Grupo Ramos and Super Bravo and a tour of Expo Cibao Trade Show.

According to President of JAMPRO, Diane Edwards, the Dominican Republic is a market that has been largely unexplored but is an important target for Jamaica. Speaking at a press briefing at the national trade and investment agency’s New Kingston offices, Ms. Edwards said, “Ultimately the main outcome we want is to make big inroads in reducing the significant trade deficit between Jamaica and the Dominican Republic. The D.R. is a relatively big market that is in our backyard, with a 10 million population, it is nearly 5 times the size of our market and gives us potential access to Haiti.”

Sharing outcomes from the mission Ms. Edwards reported that the LASCO Group has won a trial order with Grupo Ramos, the largest supermarket chain in the Dominican Republic. Another company has secured a joint venture partnership deal with an industrialist for a manufacturing plant in the D.R., while another company identified a distributor for the D.R., Puerto Rico and potentially Haiti. A number of companies also left product samples and will be following up with entities in the country.

Chairman and Chief Executive Officer of the LASCO Group, the Hon. Lascelles Chin, OJ, CD, expressed confidence in his company’s bid to win the partnership with Grupo Ramos. While on the mission Mr. Chin also reported that his company  made another successful business link for a US $40,000 contract to distribute one of their products, not already sold in that country. He said, “This mission was timely and excellent, working alongside these other exporters cemented the fact that we as Jamaicans are fighting the same battle and we need to put Jamaica first. We are confident we will win this trial and we are going to get to the D.R. shortly.”

Jamaican companies that took part in the mission included: Wynlee Trading, Falcon Marketing, Crimson Dawn Manufacturing Co., Paramount Trading, West Indies Gypsum Co., Sun Island Jamaica, Federated Pharmaceutical, Honeykist Apiaries Limited, Jamaica Fiberglass Products (JFP), Edgechem Jamaica, Bio-Tech R& D Institute, LASCO Group, GK Foods & Services, Isratech Jamaica and Honey Bun.

Significant groundwork was also implemented for JAMPRO’s Buyer Recruitment Programme for the JMA and Jamaica Export Association (JEA) staged Expo Jamaica 2014. Caribbean Export has committed to supporting a delegation of business persons from the Dominican Republic to attend Expo Jamaica as buyers and the Santo Domingo Chamber of Commerce and Production has agreed to promote Expo Jamaica among its membership, including the expo in its calendar of activities. JMA President Brian Pengelley commended JAMPRO for their work on the mission promising the JMA’s support for future trade endeavours to the country.

 

In 2012 Jamaica imported US$48 million worth of goods from the Dominican Republic while exporting US$540,000 to that country. According to Ms. Edwards JAMPRO is committed to working with local exporters to address this trend and will develop a strategy to win market share for Jamaica, closing the trade gap.

Source: 
JAMPRO
Published Date: 
Thursday, September 26, 2013