Jamaica seeks to narrow trade deficit with Japan

Jamaica is seeking to narrow her trade deficit with Japan while exporting more goods and services to the Asian marketplace. Jamaica’s trade deficit with Japan currently stands at approximately US$100 million, with the Caribbean island primarily importing machinery and equipment from Japan.

Diplomatic relations between Jamaica and Japan stretch back to 1964.

The Jamaican minister of Industry, Investment and Commerce Dr Christopher Tufton, told a Japanese delegation visiting the island on Thursday that Jamaica would like to form strategic partnerships with the Asian nation in an effort to convert “Brand Jamaica” into a viable position.

Japan’s 14-member delegation, including government officials, the Japanese ambassador to Jamaica Hiroshi Yamaguchi, and private sector officials, visited Trinidad and Tobago and are now in Jamaica attempting to highlight areas for economic collaboration and Japanese investment.

Japan is one of the largest markets for Jamaican reggae music and coffee, 80 percent of the Jamaica’s Blue Mountain Coffee is exported to Japan. Ueshima Coffee Company (UCC), the largest marketer of Jamaican Blue Mountain Coffee in Japan, began operating on the island in 1981.