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Chokehold


Roy Morris

Chokehold

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THE IMPOSITION of tariffs as high as 70 per cent on Barbadian products entering some CARICOM markets is hurting the island’s economy and its manufacturers, and Minister of Finance Chris Sinckler says it’s time for some frank regional talks.

Just two weeks after local beverage producer Banks Holdings Limited spoke of the impact of such tariffs on its products in the region while similar goods from these same islands entered the Barbados market unhindered, Sinckler admitted “this is a major problem”.

The minister said while he understood the rationale behind Article 164 of the CARICOM Treaty, which was designed to offer some level of protection to producers from the lesser developed countries (LDCs) of the region from competing products from the more developed countries, it was clear the whole regime was in urgent need of a review.

Please read the full story in today’s Daily Nation, or in the eNATION edition.

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