Caribbean Cement Company Ltd

Caribbean Cement Company Limited has advised of its concern following the announcement from the Minister of Trade, Industry and Commerce that the Common External Tariff (CET) would be waived for one year. The domestic cement market has been in decline since 2007 and this year is projected to end at 11 % below last year`s performance. The company is therefore disappointed that the waiver has been extended for another year. The CARICOM treaty provides the CET mechanism to safeguard local investment in strategic sectors of the Caribbean region, which in turn supports sustainable employment opportunities and the development of human capital within producing countries. Carib Cement contends that continued suspension of the CET will be detrimental to the local cement industry and supportive of foreign countries.