The Government has implemented Article 164 of the revised Treaty of Chaguaramas, which addresses the promotion of industrial development to âimplement protective measuresâ for some locally produced food/drink items.{{more}}
This was announced last Friday by Minister of Foreign Affairs Camillo Gonsalves.
The products included in this measure are beer, stout, carbonated non-alcoholic drinks, bottled water and some wheat products.
âThis is a treaty arrangement that was provided for to allow⦠certain disadvantaged countries not to be overrun by more developed countriesâ existing industries,â explained Gonsalves.
According to the Minister of Foreign Affairs, the Ministry of Trade, Customs and Excise is working diligently to ensure that certain measures are put in place to ensure that these products are protected, and that there is market space for them to be developed.
An additional 70 per cent duty will be imposed on these products coming from within the CARICOM region, while those originating from outside CARICOM will have a 100 per cent duty applied.
However, similar products produced within the OECS will not have duty applied.
Gonsalves asserted that Cabinet has approved the move, and more information will be made available to the public once it has been fully implemented by the Ministry of Trade.(JSV)
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