The Jamaica Chamber of Commerce (JCC) hosted a business forum on Thursday, October 25, bringing together several members with potential growth opportunities from Ecuador.
Held at its headquarters along Half-Way-Tree Road in St Andrew, the forum fed attendees with a wealth of data regarding import potential, connecting with factories, exportable offers available, and how to take advantage of the Free Trade Agreement between Ecuador & Jamaica.
During an informative presentation, Trade Commissioner of Ecuador in Cuba, Marlon Andrade highlighted that Ecuador would like to expand trade relations with Jamaica, as several key imports from other countries actually come from the South American nation.
“We would like to grow the trade flow that we have with Jamaica,” Andrade said, adding that PRO Ecuador has identified a lot of potential products to get into the domestic market.
Currently, Andrade estimates that Ecuador holds a ‘microscopic’ share of the Jamaican import valve, with under US $1million, based solely in plantain and banana chips products – however he assures that Ecuador has much more to offer.
Now improving on its debt reduction and wage inequality, Ecuador, as the largest exporter of canned tuna and loins, shrimp and sardines and other types of fresh fish cuts is seeking to directly engage major conglomerates such as Grace Kennedy.
Nestled in the majestic Andes to the northwest, the Amazon rainforest in the south and the Pacific Ocean in the east, Ecuador has risen as one of the strongest economies in Latin America, experiencing 7.3% growth up to 2017.
Chief Executive Officer (CEO) of the JCC Trevor Fearon told Jamaica Today that the organization used the forum to encourage local business interests to find the advantages wherever they present themselves in sourcing raw or processed products.
By: Gavin Riley