JAMAICA is poised to take home more than just medals from this year’s London Olympics as Jamaican businesses gear up to increase their presence in the United Kingdom (UK) and wider European markets and even beyond the games, which coincide with Jamaica 50th anniversary celebrations.

Excitement abounds as small and medium enterprises rev up their production lines to meet the June 5 deadline to send their goods to the UK through an initiative now being spearhead by Jamaica Promotions (JAMPRO) in partnership with the Jamaica Business Development Corporation (JBDC).

A wide array of Jamaican products are expected to be on sale under what has been dubbed the ‘Meet Jamaica 2012 Initiative’, aimed at inviting the world to experience all the facets of ‘brand Jamaica’.

Two major events of the initiative will be ‘Jamaica House’ — a trade affair featuring the best of brand Jamaica, to be held at the 02 Arena, five miles from the Olympic Stadium between August 3 and 12, and ‘Jamaica in the Square’ to be held in Birmingham City’s Victoria Square.

Jamaica in the Square, which will be held August 2 to 12 is a mainstream open-market event owned by the Birmingham City Council in partnership with the Jamaica National Building Society (JNBS).

General manager of JNBS and member of the Private Sector Organisation of Jamaica Export Trade Committee, Earl Jarrett, said the Olympics will present a major moment for Jamaicans wanting to tap into the UK market.

According to Jarrett, this is the place where serious investors will turn up as the Olympics is considered big business.

“If there is a moment in time that all the stars are aligned and Jamaica has an opportunity to sort of reset the button to become that country on a mission, this is it,” Jarrett told reporters and editors at the Jamaica Observer Press Club at the newspaper’s head offices in Kingston last week.

Jarrett explained further that over the years Jamaicans have left the Olympics and international sport events “with a good feeling” but this has never before been converted into true business opportunities.

The idea for London, he said, is to get local producers into the UK market and to find a way to convert the excitement into real business.

He explained further that exposure in the UK will result in seven billion people around the world being able to see Jamaica on show, with 10 million alone from the UK being able to see the local goods and services on offer.

“If you have any hope of exporting and want to share your goods with the world, this is that moment,” he said.

Jarrett said this is also an opportunity for Jamaica to be showcased in a first world manner in a space the country would not normally be seen, in the form of the 02 arena experience.

Meanwhile, he said, every electronic board in Birmingham will feature Jamaica and all things Jamaican and the city will host a number of events and firms selling Jamaican products. Producers will be able to showcase and sell products at Jamaica House in a wide variety of categories from aromatherapy and wellness products to agro-processing, gifts and craft, fashion and accessories, music, literature and approved Jamaica 50 merchandise.

“It is for us to take advantage of that opportunity, otherwise you will find Jamaican goods coming out of Europe and Asia properly labelled Jamaica that have nothing to do with Jamaica,” he said.

New entrants to the export sector as well as small and medium manufacturers have also been urged to view this as a trigger for a more sustained marketing opportunity in the United Kingdom.

Harold Davis, executive director of JBDC said this initiative ought to be viewed as a launching pad for those producers who have not yet tapped into the UK market.

“There is no doubt suppliers will have success in this very captive market, but more important for us is to be able to trigger that mechanism for sustainability,” he told manufacturers who attended a business information session at JAMPRO’s offices in Kingston last Tuesday.

He encouraged them to be prepared to send their products in good quantities to London to ensure that they do not run out of supplies while there, adding that goods take almost a month to be shipped to England and flights are expected to be solidly booked during that period.

“Birmingham will have a wider range of products to be sold, while Jamaica House will be looking at packaged products that are grab and go. Both venues will have large numbers of persons passing through so we encourage you to be prepared,” he said.

Persons hoping to be a part of this venture can also benefit from a specially crafted loan being offered by the EXIM Bank.

Valerie Crawford, manager of trade financing and risk management at EXIM Bank said they will be providing low cost financing under a special loan window.

It will be a short and medium-term facility allowing exporters to access a maximum of $3 million or the US equivalent at reduced interest rates of 7.25 per cent on US$ loans and 9.75 per cent on JA$ loans.

The loans can be used to purchase raw materials for goods required for the event; fund transportation of products overseas; fund up to 50 per cent of hotel accommodation and airfare for the export marketing team, up to 50 per cent of the participation fee in the related trade shows, and fund product promotional activities in connection to the event.

“We expect this trade to be sustained beyond August 12,” she said, explaining that this special loan window will be available for a year.

President of JAMPRO, Sancia Bennett Templer, explained that a lot of crowd pulling activities will be staged at ‘Jamaica House’ to attract the general traffic which goes by the arena on a daily basis, as well as Olympic patrons and specially invited guests.

“We will have things such as chefs demonstrating how to cook Jamaican foods and then there would be food sampling, while on fashion days we will have fashion shows for Jamaican designers to exhibit,” Bennett Templer said.

She apologised for the short notice producers have been given to prepare, but said it is possible to pull off a very successful initiative and that JAMPRO and JBDC stand ready to assist them in doing so.

Delaine Morgan, Vice President of Trade and Business Development at JAMPRO, explained that an estimated 40,000 to 50,000 visitors are expected to pass through the 02 Arena daily.

She explained that persons hoping to be a part of this initiative should be registered exporters with JAMPRO or registered suppliers with Things Jamaica.

Participants are required to pay a participating fee which represents 10 per cent of the total value of the goods they intend to export.

Also on board is Beverly Johnson, Managing Director of JLB Manufacturing Ltd, who will be offering special shipping deals for exporters participating through JAMPRO and the JBDC.