JMEA welcomes removal of CAF on exports less than US$500
KINGSTON, Jamaica— The Jamaica Manufacturers and Exporters Association (JMEA) is commending the Government on the removal of the Customs Administrative Fee (CAF), for exports bearing a value less than or equal to US$500.
This move is a welcomed one for the Micro, Small and Medium Enterprise (MSME) community, which accounts for 74 per cent of the JMEA membership, the group said in a statement today.
The JMEA said that MSMEs will now be encouraged to export more and capitalize on opportunities previously missed due to the prohibitive cost hindrance which rendered their offering uncompetitive.
According to the JMEA, since the pandemic, the significance of e-commerce has risen as a major vehicle for MSMEs to market their products and reach potential end users, irrespective of geographical boundaries. This move by the Government will encourage more businesses to embrace digitization to drive productivity and business expansion.
