Minister touts benefits of trade information portal

Dr Norman Dunn, minister of state in the Ministry of Industry, Investment and Commerce, says the provision of the Jamaica Trade Information Portal (JTIP) is an indication of the Government’s commitment to strengthening the country’s trade environment.

The JTIP provides a single authoritative source for trade information relating to import and export regulations and requirements, and processes which businesses can easily access at any time. The portal includes information on standards, tariffs, fees, levies and applicable penalties, various authorisations, inspections and verifications, as well as details on trade agreements and local business opportunities.

The portal also has downloadable forms for applications, licences, permits, and links to regulatory and other bodies engaged in trade facilitation.

Dr Dunn said the platform represents this Government’s seriousness about strengthening Jamaica’s trade environment, simplifying processes within an inclusive and enabling business environment, and encouraging wide interest in Jamaica as a worthwhile business destination.

He added that the portal legitimises the trade environment, promotes enhanced efficiencies and modernisation, even as it affirms “our commitment to the World Trade Organization’s Trade Facilitation Agreement under Article I, and emphasises digital access to information for domestic and foreign traders”.

“The ability of governments to seamlessly provide traders with required data is vital, and Jamaica is proud to be a forerunner in the design and implementation of this world-class facility, JTIP,” he added.

Dr Dunn said further that it is a useful tool in lowering trade costs, as it is technologically driven.

“Technology enables faster and more reliable management of data across borders. It increases the speed with which transactions are conducted, and it reduces manual effort, which often carries a heavy price tag as a result of errors or incomplete service offerings along the value chain,” he said.

The World Bank’s latest Doing Business Report outlines that 175 of 190 world economies have employed some form of electronic data interchange (EDI) systems in their trade operations or are in the process of doing same.

These systems facilitate the quick and reliable exchange of paperless data and play a major role in speeding up customs clearance processes and allowing documents to be shared much more efficiently, while reducing cargo dwell time.

Dr Dunn said: “As Jamaica’s business ministry, we remain bullish about the creation of an even more enabling business environment for Jamaica and are benchmarking our efforts against the best in the world,” adding that the ministry is doing its part to build and maintain a more modernised trade ecosystem in Jamaica.

“These advancements will broaden our footprint within traditional markets, while increasing our attractiveness to new markets for the import and export of goods and services. JTIP places us in a better position to assist businesses, reduce costs, and increase output through the kinds of efficiencies it creates, giving greater incentives for business creation and expansion within the global value chain,” the state minister noted.

“The continued support of development partners, including our local private sector and international business communities, will be crucial if we are to be successful,” he added.

Since the portal’s launch three years ago, some 43,237 visits have been made to the site, while 1,417 users were recorded across 179 countries as of September 2022.

– JIS