New trade order?
India's Foreign Affairs Minister Dr Subrahmanyam Jaishankar urged Jamaican businesses to pursue new markets and supply chains amid growing global instability. He cited the COVID-19 pandemic, Russia-Ukraine war, and Middle East tensions as factors disrupting global trade.
India's Foreign Affairs Minister Dr Subrahmanyam Jaishankar encouraged Jamaican businesses to aggressively pursue new markets and supply chains amid growing global instability. Global conflicts and economic instability are disrupting long-standing trade patterns. The COVID-19 pandemic, Russia-Ukraine war, and current Middle East tensions have exposed the dangers of relying on traditional supply routes and trading partners. Jaishankar pointed to India's experience seeking alternative LPG suppliers during Gulf region conflicts, finding new opportunities in Latin America and the Caribbean. Annual trade between India and Latin America/Caribbean is approaching $50 billion. Advancements in logistics, infrastructure, and digital technology have reduced geographical barriers, opening opportunities for Jamaica to deepen trade and investment links with major economies.
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