"From Houston to Jamaica... Trade Foundation for the Future"

Houston Citizens Chamber of Commerce

International Trade Network

In conjunction with

 U.S. Department of Commerce Commercial Services

Jamaica Promotions Corporation

International Trade Forum to Jamaica

September 23-26, 2004

"From Houston to Jamaica ... Trade Foundation for the Future"

 "U.S. Exporting Opportunities in Jamaica" - Opening Remarks

September 24^th 2004, 1:00 - 1:10 PM
Sue M. Cobb
Ambassador of the United States of America to Jamaica

Prime Minister Patterson, Congresswoman Lee, Consul General Ford, members of the Houston chamber of commerce, distinguished guests, good afternoon.

 I would like to thank the International Trade Forum for inviting me to speak at this event.  I'm very happy to see so many entrepreneurs here today.  It is your passion, innovation, and drive to succeed that powers economic growth in the United States and in Jamaica. 

 I have been asked to say a few words about U.S. exporting opportunities here in Jamaica, a subject I am always happy to discuss.

 As many of you know, I come from the private sector, and deeply believe that commerce is the lifeblood of any vibrant nation.  From our earliest histories, both Jamaica and the United States have been trading nations, importing what we've needed, and exporting products -- primarily goods, but also services -- where we've enjoyed competitive advantages.  This pattern continues to today, growing more sophisticated, but still based on fundamental economic principles, supply and demand, comparative advantages and competitiveness, and productivity.

 Today's Jamaican industries have grown to the point where they require resources that are not produced here on the island, and must look abroad to import the necessary materials.  The United States is by far Jamaica's largest supplier, continuing a long and prosperous trade relationship.  Exporters may find profitable markets in Jamaica's tourism sector, mining, agribusiness, utilities, the development of transportation, port facility and telecommunication infrastructure, information technology, and the growing data-entry industry.  There are also opportunities in niche areas, such as eco- and health-tourism, film, music, and other related activities.

 Jamaica has been enjoying the benefits of increased trade linkages with Texas for the past several years.  Texan exports to Jamaica have grown from US$40 million in 1997 to US$150 million in 2003.  Recognizing the 350% growth in Texas-Jamaica trade in the past six years, Delta and Continental airlines have recently added direct flights from Houston to Montego Bay.  With assistance from the U.S. government's International Buyer Program, Jamaican buyers have the opportunity to attend trade shows in Houston and Dallas to find the affordable, high quality equipment and supplies they need to expand their operations here.

 In the Jamaican people, you will find talented, creative, industrious and determined business partners.  In the wake of the destruction left by Hurricane Ivan earlier this month, Jamaica's private sector worked tirelessly to get their businesses up and running again soon after the storm passed onwards.  While living in Florida, I experienced several hurricanes and I know from personal experience how much effort it takes to rebuild.  The Jamaican business community deserves congratulations, both for its dedication to making the country "open for business" so quickly and for its corporate responsibility in providing relief to those less fortunate, who were so terribly affected by the storm.

 The Jamaican market offers many advantages for Texan exporters:

 Its location, less than 1,500 miles from Houston, allows your goods to gain a competitive advantage in price and speed of delivery versus those coming from Europe, Asia and parts of Latin America.  Container ships leaving the bustling Houston seaport can deliver your goods to Jamaica in a matter of days.  With the new direct flights between Houston and Montego Bay, your products can reach Jamaica in hours.

 As Jamaica is the largest English-speaking island in the Caribbean, our common language facilitates negotiations on business agreements and makes American publications and media products more attractive.

 The quality of American products provides U.S. firms with an advantage over lower-priced substitutes offered by other countries in the region.  In recent years, the government of Jamaica has become increasingly vigilant in terms of monitoring the quality of the products sold on the local market.  As Jamaica generally follows U.S. standards for most products, goods made for the American market will have no problem passing quality inspections.

 American products have become more competitive on prices as the Jamaican government moves away from protectionism.  As part of the continuing process of reforming the trade regime, the government has implemented a tariff reduction program, gradually lowering tariffs from as high as 200% to a generally applied standard of 20% or less on most manufactured goods.  Duties have been removed entirely from some categories of imports.

 American exporters will also benefit from the ongoing modernization of the Customs Department's revenue system.  Import duties are now levied on the transnational invoice cost of products rather than on values arbitrarily assigned by Customs authorities.  This change brings the Jamaican system in line with the standardized procedures recommended by the World Trade Organization.

 In addition to favorable market conditions, you also have the support of government organizations that have resources to help create new opportunities for American business overseas. 

 The Small Business Administration operates an Export Assistance Center in Dallas, providing Texan entrepreneurs with a one-stop shop that will provide your business with export assistance.  There, you can receive personalized assistance by professionals from the Small Business Administration, the Department of Commerce, the Export-Import Bank and other private and public organizations, forming the kind of partnership you need to reach foreign markets.

 The U.S. government will continue to support you once you enter the Jamaican market.  A principal responsibility of the Department of State is to see that the interests of U.S. companies and workers receive fair treatment, and that inequitable barriers to competition are overcome. Accordingly, the doors to the Embassy in Jamaica are open to U.S. business people seeking to share their ideas and to ask for help.

 The Foreign Commercial Service representative in Jamaica can provide matchmaking services to connect exporters with local agents and distributors; prepare reports on local opportunities; give orientation briefings to new entrants to the Jamaican market; conduct market research; identify growth industries; and arrange appointments with potential partners.  The U.S. Mission to Jamaica is here to provide the tools and information you need to succeed in your overseas venture.

 I thank you again for inviting me to address this gathering of entrepreneurship, innovation and opportunity.  I look forward to working with you as you expand your list of customers to include Jamaican partners and clients.  Your business' presence in Jamaica not only means more profits for your company, but will also result in greater economic growth and increased prosperity for Jamaica.   

 Thank you.