Tuesday June 9, 2020 | Loop News
Government to increase external collaboration for growth post COVID-19
The Jamaica Promotions Corporation (Jampro) and the Ministry of Foreign Affairs and Foreign Trade (MFAFT) have officially begun a new Economic Diplomacy Programme (EDP) which aims to aggressively promote Jamaica for investment and trade opportunities. The EDP includes marketing and engagement activities that will be undertaken by Jampro and MFAFT’s diplomatic missions and consular posts to unearth business opportunities that will generate foreign direct investments and drive exports from Jamaica in addition to enhancing Jamaica’s presence internationally. The partners hope to achieve this through increased strategic collaboration while engaging investors and international buyers. The EDP’s activities include digital events for investment and trade promotion, investor targeting and engagement, investor and buyer missions to Jamaica, and market development activities in Africa and the Middle East, Asia, North America, the Caribbean, Central and South America and Europe. A critical component of the programme will also be to explore opportunities with business leaders in the Diaspora. The programme will have a pilot period of one year with a dedicated work plan to guide activities, accountability, and expected outcomes.
The EDP comes as Jampro and the MFAFT look to increase Jamaica's exports and investments, and as Jamaica seeks to protect its economic gains made pre-COVID-19. Minister Kamina Johnson Smith said: “Economic Diplomacy is at the core of Jamaica’s Foreign policy. It plays a critical role in advancing the Government’s economic growth Agenda through building strategic relationships and leveraging our overseas presence to promote Jamaica’s trade and investment interests”. She added: “Despite the disruptions to supply chains and markets, COVID 19 offers us an opportunity to explore new avenues to further this agenda. The execution of the EDP is therefore timely, and the Ministry is looking forward to its collaboration with Jampro to increase economic development of the country.