Sometimes it can be hard to get the products you need to run your business locally, so you have to import them! 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 importing products for your business.

Vice-President of Export and Logistics at the Jamaica Manufacturers and Exporters Association (JMEA), Stephen Dawkins says the agency and Government have been making strides to simplify the export process.

Speaking on MoneyMovesJa Dawkins explained that the process to import raw materials is less complex for business owners than it is to export the final product.

“You probably need three documents to import an item whereas to export you need about eight-10,” he explained .

He said that the exportation process is a lot more involved because Jamaica has a history of contraband and as such tighter regulations are needed to document everything that leaves the country. 

Dawkins said the Government has created and is continually updating online portals that make it easier for business owners to apply and process the needed documents

On the other hand, Dawkins said that there are three essential documents that manufacturers will need to import. 

These are an import license, which Dawkins said will vary based on what is entering the country. Business owners will also need to receive an invoice for the materials that they have purchased as well as the bill of lading. 

A bill of lading is a receipt detailing the list of a ship’s cargo and the items’ prices.  Local manufacturers can also apply for custom duty waivers to help lower the import costs of raw materials for their business. Dawkins said that duty waviers and exemptions vary depending the items, however, he added that the JMEA provides assistance to manufacturers to help them during the process.

Visit EXIM Bank’s Business Advisory Service at:
https://eximbankja.com