Displaying items by tag: Council for Trade and Economic Development

Barbados: The Caribbean Court of Justice (CCJ) has ruled in favour of the Council for Trade and Economic Development (COTED) in its dispute with Trinidad and Tobago-based Rock Hard Cement. Stabroek News has reported that Rock Hard’s products had previously attracted a 5% import duty due to their classification as ‘other hydraulic cements.’ However, in mid-2019 COTED approved a decision by the Caribbean Community (CARICOM) to permit Barbados to enforce a tariff of 35% on this class of goods, compared to 15% on ’grey cement’ until mid-2021 in order to protect domestic producer Arawak Cement. The court found this reason to be, “within the rule of law.”

Trinidad & Tobago: The Caribbean Court of Justice (CCJ) is continuing to hear arguments about whether Rock Hard Cement should be exempt from higher taxes applicable to third party goods. Both the Caribbean Community (CARICOM) Council for Trade and Economic Development (COTED) and the World Customs Organisation (WCO) previously ruled that Rock Hard Cement imports from Turkey and Portugal were correctly classified as ‘other hydraulic cement,’ according to Barbados Today. However, lawyers on behalf of Trinidad and Tobago and Trinidad Cement have dismissed this classification of the imports, insisting that the classification of the World Customs Organization (WCO) and COTED were ‘unsafe, unreliable and incorrect.’ As such the imports should be classified as ‘building cement grey’ and liable to a tariff of 15% instead of 5%. The case continues.