United States Ambassador to Jamaica, Donald Tapia, is encouraging the country to take better advantage of the duty-free arrangement to export goods to the US under the Caribbean Basin Initiative (CBI).
Addressing the Montego Bay Chamber of Commerce & Industry Awards Banquet on the weekend, Mr. Tapia stated that local companies can get five to 20 per cent tax refund on export goods if they fill out the required CBI documentation.
Mr. Tapia said currently, Jamaican companies primarily use CBI for agricultural export.
He said there are over 5,000 products covered under the programme.
Mr. Tapia is urging local companies to tap into these markets and grow the Jamaican economy.