Once your products are ready to be exported, you don’t just go drop them off at the airport and that’s it! Stephen Dawkins, Vice President of the Jamaica Manufacturers and Exporters Association in charge of Logistics and Exports, is on tonight’s episode of #MoneyMovesJa to tell us the process for exporting your products!
Once your products are up to international standards and the specific standards of the country you want to export to then the process of getting your products overseas begins.
Stephen Dawkins, Vice President of Logistics and Exports at the Jamaica Manufacturers and Exporters Association (JMEA) said that there are a number of steps business owners must take before their product can even leave Jamaica.
For starters, Dawkins said that business owners must register with the Jamaica Promotions Corporation (JAMPRO) as an exporter as well as register with the Trade Board of Jamaica.
This ensures that the Government is able to give an accurate account of all the goods that leave Jamaica’s shores for other countries.
The Vice-President said that after registering with all the necessary agencies that is when the process of actually moving products begins.
“You’ll need a shipper to determine freight rates and other costs related to getting your products out,” he said.
Dawkins also recommended hiring a licensed broker to assist in processing all the documents, such as the bill of lading, invoices and shipping documents, that are required in order to legally ship items to another country.
He said that individuals can choose to do this portion themselves, however, he strongly recommended a licensed broker as they would already have the necessary legal permits to conduct trade.
“Especially if you do not have a full container load of product leaving the market, if it’s lower than a container load, which is called LCL then you would go through a broker,” he added.
Dawkins also stressed that different international markets will require different documents in order to ship to their country.
“For example, if you go to the Caricom market, you will need to get your invoice stamped by the Trade Board to approve that Caricom Certificate of Origin. This will give you duty-free status,” he explained.
Finally, Dawkins recommended that business owners insure their products before export and also have credit insurance. He said this ensures that business owners will get at least a portion of their money back in the event that their goods are damaged or lost.
He noted that while the process can be daunting, potential exporters can contact the Ministry of Industry, Investment and Commerce, the JMEA and the Trade Board to receive adequate guidance about each step and its requirements.
Visit EXIM Bank’s Business Advisory Service at:
https://eximbankja.com
