Jamaican companies are being urged to take advantage of export opportunities in Latin America, an estimated US$250 billion market which experts believe has huge potential for local products.

“We are trying to unlock the door so that Jamaica can export more to Latin American countries,” Dominican Republic Ambassador Angie Martinez said Wednesday.

Martinez was speaking with OBSERVER ONLINE at the Welcome Cocktail Reception for the Keys to LATAM Conference, held at her residence in St Andrew. The Keys to LATAM Conference was held Thursday at the Spanish Court Hotel and saw stakeholders discuss opportunities and challenges of commerce in the region.

The conference was staged by Adtelligent Limited in collaboration with the Private Sector Organisation of Jamaica (PSOJ).

Adtelligent Limited CEO Craig Powe listed agriculture, processed food, cosmetics, software services, aggregates, chemicals, tourism and artisanal goods among the industries he said have huge potential for Jamaican products.

Meanwhile, Foreign Trade Minister Senator Kamina Johnson Smith urged businesses to be proactive in seeking out opportunities in the Latin American market.

“The reality in business is that governments do not trade, businesses trade. So if we are going to increase our exports it is very important for government to set the framework within which trade can take place and then for businesses to get out there and do the work to create more commercial activity,” she said.

A number of Jamaican companies have engaged business and/or invested in Latin American jurisdictions. Among them are Jamaica Producers, JMMB, GraceKennedy, itel, Spur Tree Spices, Productive Business Solutions, and Tropical Battery.