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Foreign Trade Policy
Cabinet Approval of the Foreign Trade Policy
On January 18, 2016, the Cabinet approved the Foreign Trade Policy and its Action Plan as a White Paper.
Background
Jamaica’s Trade Policy was last reviewed in 2001. After 10 years, a decision was taken at the beginning of 2011, in consultation with stakeholders in the public and private sectors and in civil society, to review and revise Jamaica’s Foreign Trade Policy to take account of developments at the national, bilateral, regional and multilateral levels. This recommendation was approved by the Cabinet.
The main objective of the revision of the Foreign Trade Policy has been to complete the work to fully integrate Jamaica’s Foreign Trade Policy into the National Development Plan – Vision 2030 Jamaica. An updated policy framework was also considered necessary to take account of all trade strategies, projects and programmes, including the National Export Strategy, the National Growth Inducement Strategy, and the National Aid for Trade Strategy, promoting a “whole-of-government” approach to foreign trade.
Work on the Foreign Trade Policy continued from 2011-2015 with extensive consultations with stakeholders and research involving perusal of documents from UN Agencies, such as UNCTAD and UNDP, and national governments. Technical support also came from regional and other international organizations, and from the Government of New Zealand through the provision of a trade policy expert to share experiences.
Funding for the revision of the Policy was provided by the EU, IDB, the Commonwealth and the Government of Jamaica.
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