Jamaica News: Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, is imploring Jamaican producers to design goods for expanding international markets that are interested in items from the island.
Addressing the Micro, Small and Medium-Sized Enterprise (MSME) National Policy Implementation Committee (NPIC) quarterly meeting, held at The Knutsford Court Hotel in New Kingston today (September 25), Mr. Shaw said overseas markets are emerging every day, and they are looking for new items, and “we have a lot of the new things that they are looking for”.
“Target them in a forensic way. Markets are out here, disposable income is expanding in a lot of developed countries, and they are looking for opportunities to purchase things,” the Minister told the audience.
He said that the “landscape of opportunities” is not short, and the way forward rests on how “we come together and grasp these opportunities to expand and grow the export sector”.
Mr. Shaw said with the authorities in the United States (US) recently giving approval for Jamaica to export mangoes to that country, much of the “bogus” fruit will have to give way to the genuine produce that the consumers want. He also listed castor beans, coconut, and cannabis as being in high demand, and urged manufacturers to seize the vast opportunities that are available.
Meanwhile, the Minister reiterated that a committee is looking at reducing, from 15 to seven years, the time in which unclaimed funds at financial institutions are turned over to the Government, in keeping with international standards.
He noted that when this is done, some $15 billion will be released, and loans can be made to the MSME sector at three to five per cent interest.
Mr. Shaw said formation of the NPIC, which consists of stakeholders in the public and private sectors, is a “testimony” of the Government’s commitment to the development of the MSME sector, and augurs well for sustainable and inclusive national development.
“The more we facilitate and strengthen opportunities for our entrepreneurs to do business, the greater will be the country’s capacity to expand economic growth, and create employment,” the Minister said.
Source: JIS News