JMA says gov't investigating T&T rum company
The Jamaica Manufacturers’ Association (JMA) says it has received a commitment from the government that it has launched an investigation into reports that a Trinidadian rum manufacturer has been breaching trade rules.
The reports were made public over a week ago when the Trinidad Express reported that rum company Angostura, has been buying bulk rum from Cuba and South America and simply repackaging it and selling it to export markets.
Since then the JMA has strongly condemned the trade distorting act, which it says represents a breach of established rules of origin and puts local manufacturers at a severe disadvantage.
JMA president Metry Seaga says the JMA has been informed that the government is investigating the issue to verify the alleged breaches by Angostura.
The JMA says Angostura’s alleged actions would create an unlevel playing field for Jamaican rum producers.
In addition, the JMA says it undercuts possible revenues for Jamaican rum producers operating in other markets where CARICOM has formalised trading arrangements.
The JMA says preliminary data in 2015 reveal that Jamaica may have forgone over $100 million in taxes due to the alleged practices of the T&T rum manufacturer.