In an effort towards enhancing economic ties, a multi-sectoral delegation with 17 prominent members, engaged with key stakeholders in Jamaica, seeking collaboration and exploring opportunities for mutual growth and prosperity.
Led by Dr Asif Iqbal, representing the Indian Economic Trade Organisation (IETO), the meetings spanned various sectors, ranging from pharmaceuticals, agriculture, and education to tourism and film industry development, setting the stage for a promising future of economic cooperation between India and Jamaica.
Exploring Trade Opportunities: Special Economic Zones and Pharma Park
During the delegation’s meetings with the Jamaica Special Economic Zone Authority (JSEZA), both parties expressed eagerness to explore trade and investment prospects in Special Economic Zones (SEZs) in Jamaica. According to Dr Iqbal, key areas of interest included the establishment of a Pharma Park for Indian companies and warehousing facilities for FMCG goods from India, enabling efficient supply chains to North and Latin American regions.
Strengthening Healthcare Ties: Seven 10 Pharmaceuticals and LASCO-Pharmaceuticals
The delegation held productive meetings with pharmaceutical companies, Seven 10 Pharmaceuticals and LASCO-Pharmaceuticals. The discussions revolved around fostering partnerships to facilitate the exchange of medicines, generics, and specialized healthcare products, boosting the healthcare sectors of both nations.
Empowering Education: MOU with the University of the Commonwealth Caribbean
Recognizing the power of education as a catalyst for growth, the delegation signed an MOU with the University of the Commonwealth Caribbean to strengthen academic collaborations and cross-border educational programs, further cementing the bonds between India and Jamaica.
Exploring Agricultural Collaborations: Agro-Investment Corporation and Coffee Traders Limited
They engaged in fruitful discussions with the Agro-Investment Corporation (Agro-Invest) and Coffee Traders Limited (CTL), exploring possibilities for agricultural collaborations that can enrich both countries’ agro-forestry sectors.
Unveiling Film Industry Potential: Jamaica Film Commission (FCJ) and JAMPRO
Recognizing the role of arts and culture in fostering connections, the delegation engaged in fruitful discussions with the Jamaica Film Commission (FCJ) and JAMPRO. Their talks explored opportunities for collaboration in promoting the film industry, trade, and investment between India and Jamaica, showcasing the potential of cinema as a tool for cultural exchange and tourism promotion.
Strengthening the Tourism Sector: Jamaica Tourism Board (JTB)
To further strengthen the bond between India and Jamaica in the travel and hospitality sector, the delegation met with the Jamaica Tourism Board (JTB). They expressed great interest in organizing a Diaspora conference in 2024, inviting Indians residing in North America, thus promoting tourism and people-to-people connections.
Paving the Way for Future Cooperation: Ministry of Foreign Affairs and Ministry of Industry, Investment, and Commerce (MIIC)
The delegation’s engagements with the Ministry of Foreign Affairs and the Ministry of Industry, Investment, and Commerce (MIIC) delved into removing trade barriers and promoting economic cooperation, laying the groundwork for further collaboration between India and Jamaica.
Business Interaction Session: An Overwhelming Response
The Indian High Commission in Jamaica organized a Business Interaction Session, witnessing an enthusiastic response from local businesses. Around 200 representatives from approximately 70 Jamaican companies actively participated, exploring potential business opportunities and setting the stage for ongoing dialogues.
The visit of the IETO delegation to Jamaica marks a significant milestone in the strengthening of economic ties between the two nations. The discussions and MoU signings covering diverse sectors ranging from pharmaceuticals to education and film industry development herald a promising future of collaboration and mutual growth.