Discussions to be held to discourage trade dumping, says Shaw
Industry, Commerce, Agriculture and Fisheries Minister, Audley Shaw, says discussions are to be held with Finance and the Public Service Minister, Dr Nigel Clarke to discourage the importation of low-duty competitor goods.
“This is something I want to penetrate much deeper in order to keep the field reasonable and competitive,” he said.
Shaw was addressing a ceremony to commission a metal slitting plant at ARC Manufacturing in Kingston on Wednesday.
Known as trade dumping, the process occurs when a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter’s domestic market.
Shaw gave assurance to manufacturers that focus will be placed on trade facilitation, which is the simplification, modernisation and harmonisation of export and import processes, in order to make it easier for people wanting to add value to Jamaica.
He reiterated the approval given by Cabinet for the removal of specific permits, licences and charges being issued by the Trade Board Limited, which are no longer relevant.
This, he said, would further help to enhance and facilitate trade and follows an announcement he made last year that between seven and 10 of these fees would have been eliminated.