Esmond Reid, under-secretary for trade and ambassador to Caricom in the Ministry of Foreign Affairs & Foreign Trade, shared the Government and region’s response and positing opportunities in the new markets for exploration by businesses in this dynamic environment. He was sharing at the recent JMMB Group thought-leadership breakfast at AC Hotel that brought together business leaders and other stakeholders.
Jamaica highlights strategic opportunities in trade amid shifting geopolitical landscape
Attention is turning to underutilised arrangements as Jamaica pushes to increase trade opportunities in the face of evolving geopolitical challenges. Ambassador Esmond Reid, Jamaica’s representative to Caricom, says the country has been trading with Europe under the CARIFORUM–EU Economic Partnership Agreement since 2008, but market access remains limited.
“While Jamaica has been trading with the EU, the utilisation rate is still low since the agreement became effective,” Reid told business leaders at JMMB Group’s Thought Leadership Breakfast held at the AC Hotel Kingston.
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Despite special and differential treatment provisions under the agreement, Jamaican businesses face significant non-tariff barriers, including visa restrictions, economic needs tests, and professional qualification requirements that prevent many from entering the market. He confirmed that Jamaica is actively lobbying for the removal of the EU’s visa requirement for service providers, calling it a key factor that, if addressed, could “change the game significantly”. Negotiations, however, remain complex due to the need for coordination with both immigration and trade policymakers across the European Union.
“We are not there yet in terms of getting a free visa regime. But we are actively working on that,” he said.
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Reid also noted similar challenges under the CARIFORUM–UK Economic Partnership Agreement, which focuses heavily on food and beverage exports and financial services. He explained that visa regimes in both Europe and the UK continue to restrict the movement of goods and service suppliers, limiting Jamaica’s ability to fully leverage the agreements. As these challenges persist, Jamaica is being urged to re-evaluate its overreliance on the United States, where evolving tariffs have made that market increasingly unpredictable. Reid emphasised the need for Jamaica to diversify its export base and explore new and underused trade corridors.
“We have to maintain the markets we’ve worked hard to develop, but the current environment requires a more aggressive push into other regions,” said Reid.
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One such region is Caricom, where Jamaica has strong integration and is playing a leadership role in guiding responses to new global trade policies. Reid said the Caricom Single Market and Economy (CSME) offers valuable flexibility for navigating the current landscape and encouraged greater use of intra-regional trade arrangements.
“There are still niche opportunities we can explore. And we love to say Jamaica does it better,” he added humourously.
In acknowledging Jamaica is a small market, he stressed that economies of scale can be achieved through partnerships and alliances and cited Latin America and South America as promising regions for trade expansion and noted that language should not be seen as a barrier.
“You have to do your market research and find where the potential lies for doing new business,” he advised.
Producers were also encouraged to diversify their sources of raw materials and adopt more cost-effective production methods, particularly as Jamaica responds to tariff shifts in global markets. Within the region, Reid announced that CSME national consultations will be held in Jamaica this month, with a team from the Barbados-based CSME office set to meet with various sectors to assess awareness levels and identify trade bottlenecks. Looking further afield, Reid suggested looking to Africa as well, citing cultural and historical ties, a large and growing population, and strong interest in Jamaican products and services. However, he acknowledged the absence of direct air and maritime links remains a major hurdle.
“Africa is going to be the next frontier. They have 1.4 billion people; they have a very young population, a population hungry for seeing the world and taking advantage of technology. So that’s something to bear in mind,” he said.
While there are concerns surrounding the US tariffs, Reid cautions that Jamaica’s policy responses must be measured and strategic, especially amid constant tariff changes from the United States. He confirmed that the Ministry of Foreign Affairs and Foreign Trade will continue stakeholder engagement through JamTrade, its broad-based national dialogue framework, to ensure the private sector is included in shaping Jamaica’s trade agenda.
