CARICOM countries increase import duties on foreign condensed milk
Condensed milk produced outside of the Caribbean Community (CARICOM) has a 30% import charge applied by those nations.
On January 1st, the obligation became official.
The Belizean government defended the hike in import duties in a circular to firms and consumers, explaining that Jamaica is able to satisfy the majority of customer demand in the CARICOM Single Market (CSME).
The government stated: “Under the Revised Treaty of Chaguaramas (RTC), which established the CSME, such producer is entitled to protection in the regional market through the Common External Tariff (CET) if a particular product (for example, condensed milk) is being manufactured in a CARICOM state.
“Jamaica has long produced condensed milk, and recently raised output to reach the required level of 75% of CARICOM demand. Jamaica asked the Council for Trade and Economic Development (COTED) for complete protection of the CET in this situation.
Belize claimed that parties involved must impose the 30% import tax because the nation also benefits from CETs on goods including sugar and frozen concentrated orange and grapefruit juices.
The administration has stated that prices will not be significantly affected by the availability of duty-free goods from Jamaica.
