International Customs Day & Week 2022

NAME OF FEATURE | THE GLEANER | SUNDAY, JANUARY 30, 2022 22 CUSTOMS WEEK J AMAICA HAS made quantum leaps in the last few years through a deliberate attempt tomodernise trading services aimed at improving the ease of doing business. The Trade Board Limited is pleased to have been the first en- tity to be onboarded on the Jamaica Single Window for Trade (JSWIFT) platform as at July 20, 2020. This means that the majority of our ex- port and import services are avail- able online via www.jswift.gov.jm . Exporters and importers alike must submit applications for licences, permits, and/or certificates of or- igin via JSWIFT. The online nature of these applications has enabled faster processing times, thereby im- proving the ease of doing business. WHAT ARE TRADE AGREEMENTS? TRADE AGREEMENTS are the arrangements between or among countries that define their trading relationships. They are an impor- tant means by which you can ex- port your goods and services under preferential terms into the markets of other countries. THE BENEFITS OF TRADE AGREEMENTS Companies that apply for thecertifi- cationof productsapproved for export under any of the trade agreements being managed by the Trade Board Limited will benefit from preferential treatment on their exportedproducts. This arrangement will enable greater competitiveness in these markets since exporters can sell domestically produced goods with the payment of lower or no duties. Hence, the tre- mendous savings to be obtained can bechannelled intoother areas suchas business expansion, hiring additional staff or increasingproduction, thereby enabling economic growth. NINE PREFERENTIAL TRADE AGREEMENTS Manufacturers and farmers are encouraged to tap into the nine (9) preferential trade agreements, under the auspices and custody of The Trade Board Limited. Through these agreements, manufacturers and farmers can benefit from duty relief, which will make their prod- ucts more competitive in various destination markets. These nine preferential trade agreements are: 1. Generalised System of Preferences (GSP) – Some of the countries to which Jamaican prod- ucts and produce can be exported at low or no duty are Australia, Belarus, Japan, New Zealand, Norway, Russia and Switzerland. 2. The US Caribbean Basin Initiative (CBI) – Most Jamaican products and produce being exported to the United States of American are eligi- ble for duty free access. 3. The Caribbean/Canada Free Trade Agreement (CARIBCAN) – Most Jamaican products and pro- duce being exported to Canada are eligible for duty-free access. 4. CARICOM – Some of the coun- tries to which Jamaican products and produce can be exported at low or no duty are members of the CARICOM Single Market, which in- cludes Antigua &Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Suriname, Montserrat, St Kitts & Nevis, St Lucia, St Vincent & the Grenadines and Trinidad & Tobago. 5. CARICOM/Venezuela – Most Jamaican products and produce being exported to Venezuela are eligible for duty-free access. 6. CARICOM/Colombia – Most Jamaican products and produce being exported to Colombia are eligible for duty-free access. 7. CARICOM/Dominican Republic – Most Jamaican products and produce being exported to the Dominican Republic are eligible for duty-free access. 8. CARICOM/Costa Rica – Most Jamaican products and produce being exported to Costa Rica are eligible for duty-free access. 9. CARICOM/Cuba – Most Jamaican products and produce being exported to Cuba are eligible for duty-free access. For more details, please contact The Trade Board Limited via telephone: 876-967-0507; email: info@ tradeboard.gov.jm; and social media: @thetradeboardlimited on Instagram & Facebook, @tradeboardja on Twitter. – Contributed by the Trade Board Limited The Trade Board Limited: facilitating exports at lower or no duty The power of trade agreements