Why Justin Trudeau broadened his trade agenda to include 'dusty penny' Jamaica — via financialpost Economy Business Agriculture
. In Jamaica, he has invested in telecommunications, insurance, asset management, and elsewhere, and is owner of Jamaica’s largest bank, National Commercial Bank Jamaica Ltd., which competes with Bank of Nova Scotia’s 132-year-old Jamaican unit.
“We have had a very long and important trading relationship,” said Diane Edwards, president of the Jamaican Promotions Organization, or JAMPRO, which helps international businesses set up in Jamaica, a process that can include due diligence, sourcing people and materials, and conducting environmental assessments.Article content
Bank of Nova Scotia logo displayed on a building in Kingston, Jamaica. Scotiabank, founded by Halifax businessmen in 1831, opened a branch in Jamaica in 1889 to facilitate the trade of rum, sugar, and fish.Today, if you walk through the international food aisle in a Walmart Inc. store in Aurora, Ont., you can browse the offerings of Jamaican brand Grace Foods, which sells coconut water, sodas and other items.
“We don’t have that reputation, because we’re the Caribbean, we’re all about sun, sea, and sand,” he said. “But that’s a very popular misconception. The Caribbean region has so much more to offer, especially in the area of serious business.”Article content
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