On January 19, 2018, Ambassador Armando Varricchio and the Minister of Finance Audley Shaw signed the Agreement on Double Taxation between the Italian Republic and the Commonwealth of Jamaica. The goal of the Agreement is to promote investments in both countries, thanks to clear fiscal rules. As the Ambassador said during the ceremony, the Agreement is an important tool for Italian companies who want to invest in the local market, which is also a natural point of entry to the wider Caribbean market.
The signature of the Agreement takes place at a favorable moment for the Jamaican economy, that is performing positively. In this context, Italian exports towards the Caribbean island grew by 120% in the first 10 months of 2017, compared to the same period in 2016.
During his visit Ambassador Varricchio met Prime Minister Andrew Holness and the Minister of Foreign Affairs Kamina Johnson Smith, and talked with them about how to strengthen the strong relations between Kingston and Rome also at political and cultural level. Ambassador Varricchio also inaugurated, together with the Minister of Finance Audley Shaw and Minister of Tourism Edmund Bartlett, the Joy Spence Appleton Estate Rum Experience. This is the most recent investment by Campari Group, a steady presence on the Island in the last five years. The structure will allow visitors to experience a mix of tradition and innovation, which are the result of a bond between Italian and Jamaican know-how. The visitor center should also spur growth in tourism a sector where Italian operators are active.
Please find below the links to two articles on the Italian Ambassador’s visit to Jamaica, published by the local newspaper The Gleaner: