Kingston, Jamaica – The Jamaica Promotions Corporation (JAMPRO) hosted a pharmaceuticals inward trade mission from February 14th to 16th, 2017 to promote the export of pharmaceuticals and cosmetics manufactured in Jamaica.
The mission is part of the Agency’s overall strategy to diversify and increase Jamaica’s exports.
The Agency hosted the export pharmaceutical inward mission from the Bahamas as part of an export mandate to increase sales in the Caribbean.
Buyers from Coral Pharmaceuticals Ltd., one of the leading distributors of pharmaceuticals, medical equipment, and medical supplies in the Bahamas were invited to visit Jamaica to explore the opportunity to purchase Jamaican products.
As part of the two-day mission, JAMPRO facilitated B2B meetings and on site visits with pharmaceuticals manufacturers and distributors as well as cosmetics manufacturers. The manufacturers included Mac’s Pharmaceuticals & Cosmetics Ltd, Supreme Chemicals Ltd., LASCO Pharmaceutical Division, Medimpex JAMAICA, Uni-Med Health Care, Irie Rock, Ansel Development, and others.
Paul Bevans, buyer and owner of Coral Pharmaceuticals, said he was pleased with the Jamaican manufacturers and the quality of the products offered for purchase, “Our mission to Jamaica was beyond our expectations. Coral Pharmaceuticals Limited will definitely benefit from this mission and is in the process of finalizing orders to be placed”, he said. The Bahamas will be a new market for all manufacturers and distributors who participated in the mission.
Coral Pharmaceuticals will be replacing their existing inventory and introducing new products to the Bahamian marketplace. The buyers cited opportunities for a cosmetic and skincare line (featuring the popular Jamaica Black Castor Oil), a wellness product line, a range of branded generics, and veterinary supplies. Contract packing possibilities were also discussed with some of the manufacturers.
Based on market assessments, JAMPRO has concluded that Jamaica’s pharmaceuticals manufacturing sector is well placed to be the foundation for sustainable export.
STATIN data indicates that pharmaceuticals and cosmetics have been contributing to the growing exports in chemicals; for the period January to November 2016, Chemicals exports grew 15.4% when compared to the same period in 2015.
Vice President of Export and Market Development at JAMPRO, Robert Scott, explained that the Agency was steadily diversifying the products being promoted for exports to international markets. Mr. Scott said, “Agro-Processed products have been a staple of our exports, but we want to take it to the next level and bring Jamaican cosmetics, pharmaceuticals, nutraceuticals and other value-added products to the global market, especially new markets we have not previously penetrated. This will ensure that our exporters continue to grow and penetrate new markets, and that our manufacturing community will know that it is viable to create even more innovative products for export. This mission is one of several that we have planned for the new fiscal year, as we work to take more non-traditional products to international shelves.”
JAMPRO’s mission is to drive Jamaica’s economic development through growth in investment and export. JAMPRO is an agency of the Ministry of Economic Growth and Job Creation.