Susan Smith, Staff Reporter
Karl James (left), director of the Jamaica Exporters' Association (JEA) and Lascelles Chin, chief executive officer of Lasco, in discussion before the start of the JEA's official launch of 'National Export Week', at the Jamaica Pegasus Hotel, New Kingston, on Monday. - WINSTON SILL/FREELANCE PHOTOGRAPHER
EXPORTS HAVE the potential to double this year, says president of the Jamaica Exporters' Association, Dr. André Gordon.
He expressed this confidence in the export sector in his report on the performance of the sector at the official launch of 'National Export Week' held at the Jamaica Pegasus Hotel in Kingston on Monday June 20, 2005. The event was hosted by the Jamaica Exporters' Association (JEA) under the theme 'Jamaica Brand We Love'.
He said despite the many challenges over the past year, the sector has made significant strides.
"The prospects for growth in exports are good, particularly in the areas where we have strengths such as sauces, beverages, selected areas of the apparel industry and coffee, among others," he stated.
"There are opportunities for upwards of 60 per cent per annum growth, once we can supply the demand."
Similarly, his report indicated that the merchandise trade deficit which was still in decline up to September last year, increased at 1.3 per cent by the end of year 2004. The figure stood at US$2,515.9m, at December 2004.
IMPRESSIVE PERFORMANCE
The good performance in the traditional areas is also balanced by an even more impressive performance in the areas of non-traditional exports as non-traditional exports grew by 20.4 per cent last year.
Earnings from traditional domestic exports grew by 16.9 per cent to US$1,088.7m, with the mining and quarrying sector showing 15.9 per cent growth over 2003 to US$903.5m.
With continued effort to refine and strengthen the Jamaican brand, Dr. Gordon said the JEA is looking to establish brand recognition by offering the very best that Jamaica has to offer in the global market.
He advised exporters to look out for opportunities achieve this.
"For those of us striving to grow the exports of Jamaican goods and services in an intensely competitive environment, every advantage we can get in this regard is critical to our success," said Dr. Gordon.
Mr. Lowell Hawthorne, president and chief executive officer of Golden Krust Caribbean Bakery & Grill, was recognised at the launch as the top performer in exporting in 2004. He and Dr. Gordon will be the main speakers at the Annual Export Awards banquet at the Jamaica Pegasus Hotel this evening.
