The Lasco Group of Companies says it plans to significantly expand its export business, which currently accounts for just four per cent of production, through the development of higher value-added products and the acquisition of new companies.
The Group says this represents its biggest opportunity for business expansion at this time, as it looks to strengthen its presence across regional and international markets.
Lasco says it is targeting growth across the Caribbean, the United States, Canada, and parts of Central America, including Guatemala, Honduras, Panama, Belize and Nicaragua.
The announcement comes against the backdrop of a widening trade imbalance.
Jamaica's merchandise exports fell 13.4 per cent last year, while imports rose 3.2 per cent, resulting in a trade deficit of 5.9 billion U.S. dollars.
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