Business View Caribbean | Volume 8, Issue 7

24 BUSINESS VIEW CARIBBEAN VOLUME 8, ISSUE 7 (JEA) which spans over 70 years of service to the productive sectors. To date, the Association has played a significant role in several key areas most beneficial to manufacturers and exporters: • The development of the National Five- Year Manufacturing Growth Strategy, in partnership with the Ministry of Industry, Agriculture and Fisheries (MICAF) and Jamaica Promotions Corporation (JAMPRO). This Strategy now approved by the Government will help to direct the reformation of manufacturing with the aim of increasing the sector’s contribution to national GDP to JA$81 billion by 2025. • Removal of the Customs Administrative Fee (CAF) on exports of a value equal to or less than USD$500. This is particularly beneficial to our SMEs as they now have an opportunity to export more with reduced cost barriers. • Implementation of the Set-a-Side and Offset Regime of the Procurement Policy, allowing for preferential access to government contracts to MSMEs-companies earning under J$425M. • Signing of a Memorandum of Understanding (MOU) with the Caribbean Chamber of Commerce in Europe (CCCE) to enhance and facilitate export to Europe. • Signatory on the formation of the CARICOM Manufacturers Association (CMA) which was officially established in November 2020. The CMA will be focused on collaboratively boosting the region’s manufacturing growth. • Participation in the Manufacturing and Export Growth Team (MEGT), a joint stakeholder group with a focus on growing the export linkages and manufacturing capabilities of Jamaica.