First Look

Costa Rica and Jamaica strengthen trade ties

JAMPRO | 2015-04-24 00:00:00

Minister of Industry, Investment and Commerce, the Honourable G. Anthony Hylton and Costa Rica’s Minister of Foreign Trade, Alexander Mora signed an agreement last week in Costa Rica to cement a trading partnership between both nations.

The Jamaican and Costa Rican governments seek to take advantage of the countries’ close locations, improve their existing trade relationship and create opportunities for further economic development. Both countries want to ensure a transparent commercial framework for the planning of future trading activities and investments. The agreement will also enhance Jamaica’s trading position in the existing Free Trade Agreement signed between Costa Rica and CARICOM in 2004. 

Minister Hylton, who met with Minister Mora at Costa Rica’s Ministry of Foreign Trade, emphasized the importance of the agreement to Jamaica’s trade and overall economic interests stating, “This is a symbol of partnership between Jamaica and Costa Rica and I look forward to improving our trade relationship. It will enhance our existing ties and provide an opportunity for more cooperation and exchange of valuable trading information.”  

Minister Mora expressed his desire to create what he considered to be a strategic alliance with Jamaica as there is significant scope for cooperation in the areas of free trade, investment, logistics, tourism and culture.

Tastey Blackman, Logistics and Emerging Sectors Manager at JAMPRO noted that there is much to be gained from the signing of the MOU and that JAMPRO will be working with trade bodies in Costa Rica to improve trade relations,  “JAMPRO will use this agreement to deepen its relationship with PROCOMER, the Export Promotion Agency of Costa Rica and CINDE (Costa Rican Investment Promotion Agency) with the aim of increasing exports and will continue to assist Jamaican entrepreneurs with understanding and accessing the Costa Rican market,” she said.

The Ministry of Industry, Investment and Commerce and Jamaica’s investment and trade promotion agency, JAMPRO, will continue to form partnerships with regional allies to increase the export of Jamaican products and services.

Posted By :Tamica Parchment

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