It could be a miserable yuletide season for Barbadian companies that sell millions of dollars in goods to Canada.
Investigations by BARBADOS BUSINESS AUTHORITY revealed that local exporters of “several” items, including rum and other alcoholic beverages, aerated drinks, articles of iron and steel, pepper sauces and sweet biscuits will be forced to pay duties from next month unless the Canadian government acts speedily on a Caribbean Community (CARICOM) request for a special trade waiver.
On November 30, 2011, the World Trade Organization’s (WTO) General Council approved a moratorium allowing Barbados and other CARICOM members to continue benefiting from preferential access to the Canadian market under the old Caribbean-Canada Trade Agreement (CARIBCAN).
Sources explained that the two-year extension was given with the expectation that CARICOM and Canada would have concluded and signed a new “WTO-compatible trade agreement” by December 31.
