Jamaica has started the process of onboarding import/export services provided by the main cross-border regulatory agencies of the Jamaica Single Window for Trade, JSWIFT, platform.
Minister of Industry, Investment and Commerce, Senator Aubyn Hill says when completed, this will result in tremendous improvement in the cost and time to trade across borders.
Mr. Hill was speaking at a forum on facilitating competitive, safe and secure cross-border trade, held at the Regional Headquarters, University of the West indies, Mona, on Wednesday.
JSWIFT is a single electronic platform providing fully automated access to all cross-border regulatory agencies, enabling traders and their representatives to transact all businesses online.
In 2020, Jamaica was ranked 136 out of 190 countries in the World Bank Doing Business Report for trading across borders in Latin America and the Caribbean for time to export, import and for costs to export/import.
Senator Hill also informed that there are several initiatives on the Ministry’s agenda to improve trade facilitation.
Among them is the phased rollout of JSWIFT across the border regulatory agencies, BRA, and piloting the onboarding of all primary and secondary services of those agencies on JSWIFT.