Six point mission as TCI begins talks to formalize Trade with Jamaica

By Deandrea Hamilton & Dana Malcolm

Editorial Staff

#TurksandCaicos, March 22, 2022 – Thirty-six Turks and Caicos Islands companies have now met in serious discussion with nearly two dozen Jamaican exporters and the goal is to forge trade agreements to improve food security.

“Achieving food security is important to our government…this initiative was aimed at connecting buyers importers agents and distributors from the Turks and Caicos Island with exporters,” said E. Jay Saunders, Deputy Premier and Minister with responsibility for Investment and Trade.

The meetings took place at the start of the month and were a free virtual trade mission hosted jointly by Jamaica and Turks and Caicos on March 7 to 8th. The sessions were organized by the Department of Trade, Industry, and Fair Competition and the Jamaica Promotions Corporation (JAMPRO).

“Mr. Speaker, over the course of the Mission, twenty of our Importers (which came from all across the TCI, including Providenciales, Grand Turk, North Caicos, and South Caicos) met with 36 Jamaican Exporters, with them having 89 B2B meetings. On average, each one of our Importers met with five Jamaican Exporters.”

The Minister shared the six objectives of the initiative.

1. Enhancing trade cooperation between the TCI and Jamaica;
2. Assisting with the diversification of the TCI’s trade partners;
3. Assisting participating companies to gain market insights, make industry contacts, solidify business strategies, and advance specific projects, with the goal of sourcing/increasing cheaper import alternatives into the TCI;
4. Increasing awareness of export ready Jamaican product offerings to buyers in the TCI;
5. Improving business relationships between buyers and suppliers in the TCI and Jamaica, respectively; and
6. Fostering business transactions by providing a meeting platform for scheduled business interactions.

All TCI traders met with on average five Jamaican exporters over the two days of discussions.  Products were: fresh agricultural produce;  salty and sweet snacks;  herbs, spices and sauces; gluten-free flour; beverages; tinned food; beauty and personal care items; paper products; chemical and cleaning products; and building materials.

In terms of what he expected from the meeting the minister of finance said, “The main objectives of the meetings included enhancing trade cooperation between the two countries, increasing cheaper import alternatives into the Turks and Caicos and diversifying the Turks and Caicos’ trade partners.”

In recent months supply chain disruptions caused by COVID-19 and the invasion of Ukraine by Russia has made one thing abundantly clear, that all countries need to have a sustainable source of food and the TCI minister articulated that this two-day virtual trade meeting, is a progressive step toward achieving that goal.

“Mr. Speaker, achieving food security is important to Our Government, and this initiative by the Department of Trade, Industry, and Fair Competition is a step in that direction. Look for other similar initiatives by this dynamic department.”