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Jamaica Celebrates its Expo 2020 Dubai National Day in Style

A slice of Caribbean culture brought Expo 2020 Dubai to life on Friday as Jamaica celebrated its national day at the event. Jubilant Jamaicans created a carnival atmosphere at the world’s fair with a packed programme of festivities paying tribute to the nation’s history, customs and cuisine. Crowds proudly waved the Jamaican flag and enjoyed dazzling dance shows and reggae beats as a street party took over the sprawling site. They also relished the chance to sample delicious dishes showcasing the best cuisine of the country as organisers cooked up a day to savour. Visitors enjoyed the opportunity to tour the impressive Jamaican pavilion — found in the Mobility District — which tells the rich story of the island nation. The pavilion honours notable figures in Jamaica’s history, including a statue of sprinting star Usain Bolt. Each of the 192 countries taking part in Expo 2020 Dubai is given their own national day, which provides an additional platform to share their heritage with the world. More than 13 million visits have already been made to Expo, which opened its doors on October 1. Those unable to attend in person have connected with the event virtually. Online visitor numbers had already topped 121 million ahead of a hotly-anticipated performance by British band Coldplay on Tuesday. The Expo will run until March 31.   Source: https://www.thenationalnews.com/uae/expo-2020/2022/02/18/jamaica-celebrates-its-expo-2020-dubai-national-day-in-style/  

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JSEZA Hosts Business Forums at World Expo in Dubai

The Jamaica Special Economic Zone Authority (JSEZA) has been planting seeds of interest in Jamaica, through its ‘Jamaica Connects’ business forums at World Expo 2020 Dubai. JSEZA’s Senior Director, Regulations, Policy, Monitoring and Enforcement, Ainsley Brown, and Manager, Business Facilitation and Acceleration Services, Kevon Farquharson, are two members of the Jamaican delegation in Dubai for the global event and are the hosts of the Jamaica Connects business forums. Mr. Brown shared that their approach to presenting Jamaica as a place for trade and investments has been receiving positive feedback from all forum participants. “Overall, what we have heard is ‘Wow. I didn’t know Jamaica was doing this’, or ‘I didn’t know this about Jamaica’. Because we have a certain framework in which we frame our presentations where we start with ‘why’ – why should people invest in Jamaica? You have to answer that straight away and then we leave the ‘what’ for last,” he said. “And so we follow that basic framework with some modification. And then when you get to that, you’ve brought them in, you’ve already touched the heartstrings. Then we move them to ‘how do I invest in Jamaica?’ or ‘how do I trade with Jamaica’?” the Senior Director told JIS News. The presentation framework is borrowed from Simon Sinek, in which you start a pitch with stating the ‘why’ first to heighten interest and buy-in. The JSEZA team has been leading the business forums held by the Jamaica Pavilion at World Expo 2020 Dubai. There have, so far, been three forums, which covered the topics of business opportunities in logistics; environmental, social and governance investing in Jamaica; and business acceleration through special economic zones. “One of the things that we do when we give each presentation, we always put a question in there, and that is, ‘what can Jamaica do for you?’ The answer to that is ‘whole heap’ to put it in Jamaican terms. What we’re getting is, one, we want to buy Jamaican products and get them into this market, and two, we see Jamaica as a springboard to access other markets,” Mr. Brown said. Creating the linkages between Jamaica’s prime location for becoming a logistics hub connecting businesses to the Caribbean and American markets, along with the rich agrarian society, access to natural energy sources and the business support services offered through the JSEZA, have been used to portray a Jamaica of more than sun, sea and sand to attract investments and trade interests. The forum participants hail from countries such as Malaysia, India, Poland, United States of America, United Kingdom, Germany, Slovakia, Netherlands, and the United Arab Emirates. There has even been participant representation from the Caribbean. For his part, Mr. Farquharson shared that the participants represent a cross-section of fields ranging from education and consultancy to pharmaceutical and environmental protection. The information shared through the Jamaica Connects business forums has garnered multiple expressions of interest in doing business in Jamaica. “We have a lot of interest that spreads across all industries, moving from the agro-processing industry to the logistics industry, and knowledge process outsourcing as well. We have persons that are a part of pharmaceutical companies that are interested in setting up shop in Jamaica as well as doing research with Jamaica. There is interest stemming from the agro-processing side of things where persons are interested in the cannabis industry, particularly the CBD oil, and persons are interested in our spices,” shared Mr. Farquharson. The team in Dubai has already made connections with business operators to expand their work and presence in the island and have made connections with others for symbiotic relationships in which local waste or environmentally harmful commodities such as sargassum are the raw material used by these companies in their operations. The Jamaican delegation remains in Dubai until the end of World Expo 2020 on March 31,2022 and will continue to host business forums and facilitate meetings with businesses and individuals interested in trading with and investing in Jamaica. The team has already facilitated meetings between business entities or organisations in the Middle East and their counterparts in Jamaica. The next Jamaica Connects business forum is scheduled for Wednesday, February 16.   Source: https://jis.gov.jm/jseza-hosts-business-forums-at-world-expo-in-dubai/

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Sustain-a-Livity: Celebrating UN development goals, the Jamaican way!

Global Goals Show at Dubai World Expo makes collective push for an enhanced and more fair future for all by 2030 By Rupali Dean A Global Goals Week at World Expo 2020 Dubai brought the realm together to push collective development towards UN Sustainable Development Goals (SDGs) for an enhanced and more fair future for all by 2030. Vibrant projections and a dialogue by the UN Deputy Secretary-General at Al Wasl Plaza, the core of Expo 2020 Dubai, marked the lead of the Global Goals Week ended Jan 22 – the yearly event’s opening time leaving the UN General Assembly in New York City. Kande, a British born Jamaican student, now living in the UAE, released her first novel, ‘Going Home: Diary of a Teenage Alien,’ last November, which is already making headlines. She was the freshest of all the other flag bearers that included top CEOs at the inaugural ritual and was the flag bearer for the 14th Goal: Life Below Water. United evolution for the UN 17 Sustainable Development Goals strengthens Expo’s newest Theme Week, held in link with the UN. The Jamaica Pavilion during SDG Week marked and celebrated the Global Goals by endorsing a distinctive Jamaican concept of Sustain-a-Livity. Sustain-a-Livity is an select Jamaican notion incorporated by the Jamaica Special Economic Zone Authority that syndicates two words: Sustainable and Livity. Sustainable: Congregating the needs of the present without negotiating the aptitude of upcoming generations to gather their needs. Livity: Is the Rastafari conception of virtuous living. Its essence is the understanding that an energy, or life force, bestowed by Jah (God), endures within, and streams through, all peoples and all existing things. Livity has a resilient focus on existing a natural regime. “Tourism is one of the chief stimuluses of the SDGs. Our Countrywide Development Plan – Vision 2030 goals to encourage ecological tourism in Jamaica,” said Donovan White, Director of Tourism of Jamaica. “It is intended not just to profit the country’s tourism industry, but also reserve its regular and edifying resources and kindle commercial growth for the broader domestic economy,” he added. Ainsley Brown, Senior Director, Regulations, Policy, Monitoring & Enforcement at JSEZA stated, “Sustain-a-Livity is more than just a perception; it’s a sustainable way of existence that makes, as our National Development Plan – Vision 2030 says: Jamaica, top-notch place to do business, work, live and raise families.” (Rupali Dean is a noted food and travel writer based out of India)   Source: https://www.americanbazaaronline.com/2022/01/29/sustain-a-livity-celebrating-un-development-goals-the-jamaican-way-448490/

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Join the reggae month celebrations at the Expo 2020 Dubai

DUBAI:  Music-lovers visiting Expo 2020 Dubai are in for a real treat at the Jamaica Pavilion as it celebrates its reggae month in February and the birthday of legendary Jamaican singer and musician Bob Marley. Music is ingrained in the culture of the small Caribbean nation, with reggae the rhythm that moves Jamaicans, and the pavilion, located in the Mobility District, makes a bold statement with its upbeat music, colourful exhibits and vibrant mural art. Bob Marley’s iconic singles, ‘No Woman No Cry’, ‘Could You Be Loved’, ‘Three Little Birds’ and ‘Redemption Song’, play on repeat, and it is the beat of the nation which has connected Jamaica to the world. Jamaica has long enjoyed a rich musical heritage and a thriving culture, with genres such as Mento, Ska, Rock Steady, Dub and Dancehall originating here and influencing music globally. Visitors to the pavilion can embark on a music journey and enjoy the ‘riddim’ – Jamaican Patois pronunciation of the English word ‘rhythm’ – of the nation, experience a recording studio vibe at the mixer board while listening to the tunes of the bass guitar and the funky sounds of the computer drum machine, as well as remixed versions of reggae songs. Vivid artwork in the shipping-container-themed pavilion is inspired by Jamaica’s Annual International Reggae Poster Competition and depicts reggae’s groove and culture. Guitars belonging to famous guitarist and composer Ernest Ranglin, as well as exhibits from the National Museum of Kingston, are displayed in one corner of the studio, and the wall of fame pays homage to other famous Jamaican musicians: Shaggy, Sean Paul, Ziggy Marley, Damian Marley, Daddy U-Roy, Beenie Man, Chaka Demus, and more. However, Bob Marley, a pioneer of reggae music, was instrumental in putting his island nation and its culture on the map. Marley’s name was etched in the annals of music history when Exodus was declared album of the century by Time magazine in 1991. In 2018, Reggae music was declared Intangible Cultural Heritage by UNESCO. Essie Gardner, Commissioner General of Jamaica at Expo 2020 Dubai, said: “Music is a part of our psyche in Jamaica. The youngest child will start dancing once music is played, and he will move to a rhythm. Happy or sad, Jamaicans will sing songs of joy or sadness. And we are blessed to have been able to make an impression on the world with our music. Music therefore is an integral part of the Jamaica Pavilion. The pavilion would not be as impactful without music.” Reggae enjoys a global appeal, and February marks the beginning of the official reggae month in Jamaica. This is one of the reasons Jamaica will celebrate its Expo National Day on February 18, Commissioner General Gardner added. Jamaica plans to showcase its rich reggae heritage with cultural performances throughout the month, starting with the 77th birthday celebrations of Bob Marley on February 6.   Source: https://thebrew.ae/join-the-reggae-month-celebrations-at-the-expo-2020-dubai/

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Jamaica | Music of Bob Marley

Known as ‘The Ambassador of Peace’, Jamaican reggae singer Abijah has toured the world and is credited as Jamaica’s reggae ambassador. He is well known for his own songs and top-selling albums, but here, he celebrates the music of Bob Marley. Unmissable! Source: https://expo2020.vfsglobal.com/en/calendar/events/01-feb-2022/jamaica–music-of-bob-marley

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The coolest country pavilions at Expo 2020 Dubai

Living rainforests, vertical farms, augmented reality and more With 192 countries taking part, how do you choose the best country pavilions to visit at Expo 2020 Dubai and each pavilion telling a different story, visitors to Expo 2020 have the world at their fingertips. Now that the huge event is well underway, we’ve visited, and visited again, and decided upon a few of our firm favourite attractions. To get you just as pumped as we are, we’ve rounded up some of the best pavilions on offer. From learning about sustainability through an aquatic treasure hunt to using augmented reality to make your walk wonderful, these are some of the truly unmissable Expo 2020 Dubai pavilions. Visiting Expo Dubai has never been better value. Click here for the latest deals Always wanted to see superstars Coldplay perform? For free? Well, you can at Expo. Click here for more Read on for the best country pavilions at Expo 2020 Dubai. Belgium The Belgian pavilion has certainly lived up to its reputation of being the powerhouse of European mobility. With a 500 square meter exhibition offering visitors an insight into Belgian innovation as well as a kiosk of Belgian delicacies, the pavilion is sure to be one to watch for the duration of the Expo. And that’s before we’ve even mentioned the lush Green Arch exterior that champions biomimicry, a concept whereby solutions to modern day issues are modelled on nature. Cuba Rumba music. Vintage cars. Sensational beaches. Cuba is known for lots of things, and one of our favourites is a certain mixed drink that has made its way onto bar menus across the globe. Head to the Cuban pavilion at Expo 2020 and you’ll be able to try a mocktail version of the sweet, minty beverage while you learn about the history of the sugar cane capital of the world through a collaborative game. Once you’re refreshed and well-versed in Cuban history, you’ll also get to learn to dance the nation’s iconic cha-cha-cha in an enlivening true South American experience. Egypt Egypt: home to one of the world’s greatest wonders but far more than a bucket-list destination. Indeed, from its rich history and ancient wonders to its modern feats of architecture (the Grand Egyptian Museum looks like a collosus and we can’t wait to visit when it opens next year) Egypt has also attracted curious travellers with a sense of adventure. So it stands to reason that the Egypt Pavilion at Expo 2020 would do the same. An intriguing blend of ancient and modern, The Egypt Pavilion is a journey back in time and to the future at the same time. Made with over 10kg of solid gold and precious stones, the replica of the iconic golden mask of Egyptian King Tutankhamun is a must-see, while you don’t want to miss the three replica coffins that would have housed the boy king. A series of interactive displays also demonstrate the country’s technological and economic growth, while a virtual tour guide keeps visitors occupied and asking for more. Short of the relocating the pyramids, this is an authentic taste of the new Egypt. Hungary Enormous ball pit. Need we say any more? Kids and big kids alike will want to ensure they visit the Hungary Pavilion to dive right into the huge pit of balls, which serves as its main focal point. Also known as the Land of Waters with more than 1,300 thermal springs, the pavilion aims to demonstrate Hungary’s deep-rooted relationship with water. Just as impressive is the pavilion’s exterior which features a double-shelled timber structure designed by famous Hungarian architect, Imre Makovecz. India You won’t want to miss out on India’s epic, four-floor pavilion during your visit to Expo 2020 Dubai. It showcases the best of what India has to offer, with a mix of themes including Ayurveda, yoga, a space programme, and its rapidly-expanding US$ 2.5 trillion economy. You’ll get the chance to learn about both India’s legacy and future and the possibilities that having a 1.3 billion-strong population brings. Expect film shows, conferences, cuisines and daily cultural performances at this unmissable pavilion. Jamaica Shipping containers take the centre stage at Jamaica’s spontaneous street party-style pavilion. Wander around and you’ll come face to face with some of the nation’s greatest sports persons as you learn their stories and revel in the country’s rich art and history, all while enjoying some true Jamaican coffee. Inside the music studio, you can have a listen to some of the Caribbean island’s most important artists – including Bob Marley. This place is Jamaican us crazy. Luxembourg Easily one of Expo’s most visually appealing pavilions, Luxembourg’s space is designed to mirror their ideas of openness, taking the shape of an Möbius ribbon, an infinite form. And get this: within the exhibit, if you aren’t in the mood to go down a flight of stairs, you take a slide that sends you straight to the pavilion’s ground floor. In fact, it’s the only pavilion offering this brilliant alternative to merely walking down the stairs, and we love the innovation. Monaco Science is something that each pavilion encompasses in one way or another, and in the case of Monaco, the tiny country has made use of a kaleidoscope to explore the rich history of Monacan art, culture and innovation. Just by looking around, visitors can go on a Grand Prix of Monacan history. To learn more about the natural side of things, you can visit the pavilion’s ‘Garden of Opportunities’ and immerse yourself in the country’s sunny climate and what that means for the Expo’s opportunity sector. Saudi Arabia The Saudi Arabian pavilion is the second-largest at Expo 2020 Dubai and is packed with things to see and do. The pavilion provides an insight into a shared future with the Kingdom, demonstrating its four main pillars comprising ambition, including people, nature, heritage and opportunities. The striking design of the pavilion has been created with sustainability in mind and is LEED Platinum Certified (a green rating system). You might also like: Clued up on Expo 2020 Dubai? Here is

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Jamaica to Observe National Day at World Expo 2020 Dubai

The Jamaican delegation at World Expo 2020 Dubai will celebrate National Day with six days of activities starting February 14. The National Day celebration is one of the most prominent moments in any nation’s programme of activities during the six-month-long Expo. Jamaica’s National Day is Friday, February 18. “Several ministries, departments and agencies have collaborated to bring together a cohesive programme, which we feel sure will leave a lasting and positive impression,” said Commissioner General of the Jamaica Pavilion at World Expo 2020 Dubai, Essie Gardner. She said that the Jamaica National Day celebrations will begin with a flag-raising ceremony and playing of the National Anthem at the Stage of Nations in the Al Wasl Dome. This will be followed by a cultural performance coordinated by the Ministry of Culture, Gender, Entertainment and Sport, including a public concert within the Al Wasl Dome. Music and entertainment will be a central feature of the National Day celebrations with multiple pop-dance presentations, Ms. Gardner said. The launch of the first-ever Global Tourism Resilience Day by Minister of Tourism, Hon. Edmund Bartlett, will also form part of the activities. In addition to the cultural performances and concerts, the Jamaican delegation in Dubai will also be engaged in bilateral meetings and will stage exhibits and fora for Expo visitors. Visitors to the Jamaican Pavilion will get the opportunity to win prizes throughout the six days of activities and indulge in Jamaican cuisine such as ackee and saltfish and jerked chicken. Jamaicans in the diaspora and at home can view the celebrations on the JIS YouTube channel and on Expo TV at www.expo2020dubai.com/en/news/expo-tv on February 18.   Source: https://jis.gov.jm/jamaica-to-observe-national-day-at-world-expo-2020-dubai/

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JPS, IDB Lab establish fund to assist entrepreneurs with EV financing

The e-mobility project launched by the Jamaica Public Service Foundation and the Inter-American Development Bank’s innovation unit, IDB Lab, to accelerate the development of electric vehicle technology in Jamaica, has established an electric mobility fund that entrepreneurs can tap for concessionary financing, particularly women in the micro and small business sector. Details about the fund and the banking partners with which the JPS and IDB Lab will partner on disbursements were not forthcoming up to press time. It will provide financing for innovative green projects across sectors such as transportation, agriculture and tourism. The establishment of the e-mobility fund is the second of three components of the jointly funded e-mobility ecosystem project, the first being a public awareness and market- sensitisation campaign around the development of a sustainable electric-mobility market, and the third, technical capacity building and training. So far, the three-year project, initiated through the JPS Foundation, has deployed 10 electric vehicle or EV charging stations in partnership with gas stations nationwide. The light and power company is trying to shape charging behaviour with the announcement of ‘time of use’ rates, which will apply to individuals and commercial owners of the 50,000 electric vehicles projected to be in use in Jamaica by 2030. Another company, InterEnergy Group Limited, is investing $150 million through local subsidiary Evergo Jamaica in the roll-out of 60 electric vehicle charging stations nationally by year end. Evergo is a sister company to Jamaica Energy Partners, which is one of the independent power providers contracted to sell electricity to the JPS. On the Government’s end, an Electric Vehicle Council has been established to provide oversight and to review any policies, legislation, and regulations related to the deployment of EVs in Jamaica. The council held its first meeting on May 14, 2021, and approved the e-mobility strategic framework that will facilitate the growth of EVs in Jamaica. In the meantime, the Ministry of Science Energy and Technology is seeking the approval of the Cabinet for the overarching policy framework. Now attention has turned to extending financial support to entrepreneurs in the transportation businesses as well as to sectors beyond the heavily talked- about automotive industry. Focus is also on the development of new business models by leveraging emerging technology and complementary services in the ecosystem. The project includes innovation challenges for entrepreneurs, internship opportunities for university students, and development of a logistics digital solution to support access to EV charging networks. “Many of our female entrepreneurs’ businesses went under at the onset of COVID-19, and they are trying to pivot and to see new opportunities. Some of the changes that we can anticipate as it relates to electric technology is not just vehicles. We are looking at electric scooters, power chairs, and even fishing boats and engines,” Ethnie Miller Simpson, president of the Women Entrepreneurs Network of the Caribbean said during the JPS-IDB Lab Women’s Electric Vehicle Forum on Thursday. “The e-mobility fund will be a key component of our conversations moving forward. We still need to work out how the financing will be done, the incentives, what will the service be like, and how practical will it be, especially for females,” said Miller Simpson. Globally, large businesses like Amazon have started the switch to electric vehicles. Ride-sharing companies such as Uber and Lyft have committed to having all electric vehicles by 2030 and to investing US$800 million by 2025 to help drivers switch to all EV. Locally, e-commerce company Mailpac has started its transition to EV. “One of the areas that I think is ripe for growth in Jamaica’s EV sector is taxi service,” said JPS Director of Business Development Dionne Nugent. Source: https://jamaica-gleaner.com/article/business/20211023/jps-idb-lab-establish-fund-assist-entrepreneurs-ev-financing

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Direct flights to commence from Sweden to Jamaica

KINGSTON, Jamaica— The Jamaica Tourist Board (JTB) says that beginning November 22, VING, operated by Sunclass Airlines, will offer direct flights from Stockholm, Sweden to Jamaica. According to the JTB, the fortnightly flying programme will run through to March 2023 as part of the winter season programme 2022/23. The agency said that VING will operate a total of nine rotations for winter 2022/23 with 373 seats on each flight, on its Airbus A330—900neo. “We are delighted with VING’s decision to resume direct flights to Jamaica next winter. We are encouraged by the tour operator’s trust in our destination, and their charter service will significantly increase Swedish visitors, who usually stay on the island for 14 nights,” said Minister of Tourism, Edmund Bartlett. “Since reopening our borders last summer, our destination has continued to welcome visitors safely and seamlessly.  We are prepared and resilient and have been meticulous in our preparations for visitors in the post- COVID-19 world. Jamaica’s tourism sector continues to lead the recovery efforts for the island’s economy, and I am pleased to report that we are making steady progress towards recovering stronger,” he added. Donovan White, Director of Tourism, agreed. “It is safe to say that tourism is steadily rebounding and the demand for Jamaica is high. We are very pleased that tour operators such as VING believe in destination Jamaica and we look forward to welcoming their passengers, to enjoy a truly unforgettable Jamaican experience in an environment which is safe, seamless and secure.” Claes Pellvik, Nordic Head of Communication, Nordic Leisure Travel Group, said, “Nordic Leisure Travel Group is happy to come back to Jamaica again with non-stop flights Stockholm-Montego Bay for the upcoming winter season 22/23, especially since our previous customer feedback has always been excellent for our Jamaica programme. What is new is that we will operate our brand-new Airbus A330-900neo from our own Sunclass Airlines. This state-of-the-art aircraft will reduce CO2 emissions by -23 per cent, and at the same time enhance the passenger experience. We see Jamaica as being a perfectly positioned destination for the future with its focus on well-being, a vast selection of interesting activities and culture to explore, and a fantastic hotel product on offer”. Source: https://www.jamaicaobserver.com/latestnews/Direct_flights_to_commence_from_Sweden_to_Jamaica

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Shipping snag creates opportunities

SUPPLY chain woes stoking higher shipping costs and fuelling heightened inflation across the world present opportunities for Jamaican manufacturers eyeing the US market. John Mahfood, president of the Jamaica Manufacturers and Exporters Association (JMEA) – an industry lobby group – told the economic and production committee of Parliament on Wednesday that the opportunities abound because while freight costs to Jamaica from China are high, they are even higher for shipping from China to parts of the US. In his presentation to the committee, Mahfood highlighted that the cost to ship a 20-foot container from China to Jamaica is now at US$14,000. The same container shipped to the US East Coast he said would cost more – US$20,000 and more. “What we are seeing is the shipping costs to Jamaica are less than the shipping cost from the Far East to New York and that creates an opportunity for us here in Jamaica, because now those companies in North America have to pay such a premium that companies in Jamaica in manufacturing have a little bit of advantage over Far East companies,” Mahfood outlined. He added: “If you take a company like Boss Furniture, which makes furniture and bedding, freight costs are a significant part of its business. So, if you are importing furniture into the US from the Far East and you now have to pay US$20,000 extra, a company in Jamaica with a good quality product can ship to the US, because US$20,000 may represent up to 50 per cent of the cost of the item [to the US importer]. Boss Furniture has increased its exports to the Caribbean and there are other examples of that, so we have to find a way of emphasising this advantage. While it might not be permanent, we have to wake up to that fact and take advantage of it, because once you establish a customer, you can continue to ship to that customer.” Turning his attention to the impact the shipping costs are having on consumers, Mahfood told the parliamentary committee that the inflation the country is seeing because of “the substantial freight cost and increase in the raw material costs…will not come down for a while because cost increases have not stabilised as yet.” Inflation in Jamaica reached 8.5 per cent in October – the highest it has been since 2013, forcing the Bank of Jamaica(BOJ) to hike interest rates twice in the last few months to the highest it has been since 2018. “When the BOJ continues to increase the interest rate in an effort to reduce a foreign-induced inflation rate, it does not, in my opinion, helps,” he continued. Acknowledging that the higher rates will slow the economy, Mahfood told the committee, “just because the economy slows, if your cost inputs are [higher] and they are real, you have little opportunity to reduce your cost and stem inflation. I think the BOJ feels it’s sending a signal [for businesses] to temper price increases, but [businesses] have little choice on that.” The central bank said in addition to hiking interest rates to rein in surging consumer prices, it will reduce the money it circulates in the economy and admitted that it will cause “reduce demand in the economy and with it the ability of businesses to pass on price increases to consumers.” David Wan, president of the Jamaica Employers’ Federation, told the economic and production committee the “bulk of inflation” in Jamaica at the moment is imported through supply chain shocks, adding that “the increased interest rates alone will not resolve this problem, and it may indeed may exacerbate it.” He, however, pivoted his arguments to call for a refocus on building Jamaica’s productive capacity. “Since there is no supply chain problems within Jamaica that are of signficance, we are advocating a programme to incentivise domestic production, especially food production in order to build our capacity to produce and sustain ourselves and to alleviate the inflation we are now experiencing. We think it’s an opportune time to reinvigorate and bring back to the fore, the whole buy Jamaica programme so that we depend less on imports at this point in time, I think it will help to solve some of the inflation problems we are importing from our trading partners,” he said. Source: https://www.jamaicaobserver.com/business-report/shipping-snag-creates-opportunities-jmea-boss-calls-for-manufacturers-to-take-advantage-to-exploit-us-market_236612?profile=1056

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