BEIJING, China — JAMAICAN industrial chemical company, Paramount Trading, is exploring strategic partnerships in China that will help it to penetrate the regional market.
Paramount, a leading distributor of chemical raw materials for the food and beverage as well as the industrial sectors, has been looking to do more manufacturing since it bought a plant two years ago.
GRAHAM... alliance in China will assist Paramount in getting deeper into manufacturing.
Hugh Graham, managing director of Paramount, is currently in China, as part of a delegation to the Asian superpower, on a mission to form alliances towards making a foray into the region with manufactured products.
"The link I am hoping to forge is an alliance that will assist us to get deeper into manufacturing and assist us in looking at the Caribbean as a region for exports, as the local market is pretty much limited in terms of three million people and probably another million in terms of tourists," Graham told Caribbean Business Report in Beijing, China.
"But in the wider Caribbean and Central America you can find another 10 million in terms of your market," he said.
Graham did not wish to disclose too many details at the time, but was very bullish about the prospects with Chinese interests.
"There are discussions; things are looking good and the talks are going well," he said, adding that he would be having a few more meetings during his visit in China "to cement some of the arrangements and take it to the next step".
Paramount is the local distributor of world-renowned SIKA construction chemicals and admixtures. It posted $73.3 million profit for its May 2013 year-end, up one-third year-on-year. Revenues inched up 4.6 per cent to $642 million in the year.
The Jamaican delegation in China, led by Prime Minister Portia Simpson Miller, is on a five-day visit to reaffirm deepening ties between Jamaica and the communist country, which has pumped billions of dollars in foreign direct investments into the island over the last decade.
The Paramount boss said he was pleased with the commitment that the country has received from China for serious development beyond trade.
He made particular reference to the proposed logistics hub, being explored by Government in collaboration with China Harbour Engineering Company, which promises to make international market access through Jamaican shipping channels easier and more cost-effective.
Meanwhile, Jamaica Chamber of Commerce President Francis Kennedy wants the island to negotiate a one-way free trade agreement between it and China whereby Jamaican exports to China are duty-free.
"That's where we want to go," said Kennedy, who is also part of the delegation in China.
Jamaican ambassador to China, Ralph Thomas, said a major area of focus during the visit will be on increasing Jamaica's exports to China, the most populous market in the world with 1.4 billion people. Jamaica in 2012 alone had a reported trade deficit of US$755.4 million with China, the largest among Caribbean Community countries.
Kennedy, and the other members of the private sector in Beijing, will be part of a match-making forum today in a bid to make linkages with Chinese businesses.
Paramount, a leading distributor of chemical raw materials for the food and beverage as well as the industrial sectors, has been looking to do more manufacturing since it bought a plant two years ago.
GRAHAM... alliance in China will assist Paramount in getting deeper into manufacturing.
   GRAHAM... alliance in China will assist Paramount in getting deeper into manufacturing. #slideshowtoggler, #slideshowtoggler a, #slideshowtoggler img {filter:none !important;zoom:normal !important}  1/1  |
Hugh Graham, managing director of Paramount, is currently in China, as part of a delegation to the Asian superpower, on a mission to form alliances towards making a foray into the region with manufactured products.
"The link I am hoping to forge is an alliance that will assist us to get deeper into manufacturing and assist us in looking at the Caribbean as a region for exports, as the local market is pretty much limited in terms of three million people and probably another million in terms of tourists," Graham told Caribbean Business Report in Beijing, China.
"But in the wider Caribbean and Central America you can find another 10 million in terms of your market," he said.
Graham did not wish to disclose too many details at the time, but was very bullish about the prospects with Chinese interests.
"There are discussions; things are looking good and the talks are going well," he said, adding that he would be having a few more meetings during his visit in China "to cement some of the arrangements and take it to the next step".
Paramount is the local distributor of world-renowned SIKA construction chemicals and admixtures. It posted $73.3 million profit for its May 2013 year-end, up one-third year-on-year. Revenues inched up 4.6 per cent to $642 million in the year.
The Jamaican delegation in China, led by Prime Minister Portia Simpson Miller, is on a five-day visit to reaffirm deepening ties between Jamaica and the communist country, which has pumped billions of dollars in foreign direct investments into the island over the last decade.
The Paramount boss said he was pleased with the commitment that the country has received from China for serious development beyond trade.
He made particular reference to the proposed logistics hub, being explored by Government in collaboration with China Harbour Engineering Company, which promises to make international market access through Jamaican shipping channels easier and more cost-effective.
Meanwhile, Jamaica Chamber of Commerce President Francis Kennedy wants the island to negotiate a one-way free trade agreement between it and China whereby Jamaican exports to China are duty-free.
"That's where we want to go," said Kennedy, who is also part of the delegation in China.
Jamaican ambassador to China, Ralph Thomas, said a major area of focus during the visit will be on increasing Jamaica's exports to China, the most populous market in the world with 1.4 billion people. Jamaica in 2012 alone had a reported trade deficit of US$755.4 million with China, the largest among Caribbean Community countries.
Kennedy, and the other members of the private sector in Beijing, will be part of a match-making forum today in a bid to make linkages with Chinese businesses.
