Memorandum of Understanding Between Agro-Investment Corporation & Jamaica Manufacturers and Exporters Association
Agro-Investment Corporation (Agro-Invest) strives to create an entrepreneurial culture that views farming from a business perspective. As a result, a need was recognized for more binding agreements (contractual or otherwise) between investors on the Agro-Parks/Production Zones and the marketplace to foster better-planned production; increased efficiency; reduce waste, and increase contribution to the economy at all levels of the value chain.
With this in mind, on May 17, 2021, Agro-Invest and the Jamaica Manufacturers and Exporters Association (JMEA) officially signed a Memorandum of Understanding (MoU) that will benefit over 300 investors on the Agro-Parks and Production Zones.
Objectives of the MOU
The main objectives of the MoU are:
- Boost market linkages, specifically aimed at securing access to a consistent supply of raw agricultural produce for the JMEA membership.
- Create an avenue for Agro-Invest investors to promote their agricultural produce.
- Increase market access for agricultural exports.
Under the MoU, Agro-Invest and JMEA will work together in the following key areas:
- Accumulating data on quantities of produce grown by farmers on the Agro-Parks that are available for purchase by JMEA’s members.
- Establishing and executing food safety standards under which the farmers are to operate.
- Facilitating meetings and signing of market contractual arrangements between Manufacturers/Exporters and Agro-Invest’s clients.
- Partaking in joint activities related to developing the agricultural industry export centric workshops, marketing initiatives, and trade missions.
The partnership between Agro-Invest and JMEA came at a critical time in the Jamaican economy when the productive sectors are shifting from pandemic survival to recovery. It will create access to a myriad of international, regional, and local markets and will impact Jamaica’s economic development in a sustainable way.
Simara Howell-Executive Director- Jamaica Manufacturers and Exporters Association (JMEA)
Michael Pryce, Acting Chief Executive Officer-Agro-Investment Corporation