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Manufactures pleased with suspension of cet on several items

Posted in: Regional News | 12 October 2016 | 1348

    GEORGETOWN, Guyana, Oct 10, CMC – The Guyana Manufacturing and Services Association (GMSA) Monday said it has been successful in its application for the suspension of import duties on raw materials under the Common External Tarriff (CET).

    In a statement, GMSA that it had received support in its application to the Guyana-based Caribbean Community (CARICOM) Secretariat for the suspension from the Ministry of Foreign Affairs.

    [gmsa] It said the single item rejected was Soya Bean Oil, based on an objection by a Barbados-based firm that it is producing the commodity.

    “This fulfills the short term goals as reported previously by the GMSA.Manufactures pleased with suspension of cet on several items The long term goal of the Association is to work with the relevant agencies to have these ineligibles items along with many others removed from the list since many of them are no longer available in the region.”

    GMSA said that manufacturing companies which were faced with the enforcement of import duties on raw materials that appeared on the list of ineligible items were granted suspensions through the CARICOM Secretariat.

    The list of ineligible items was developed in the late 70s early 80s and was designed to protect the CARICOM region.