The Council for Trade and Eco-nomic Development (COTED) of CARICOM will not erect a 40% common external tariff (CET) against extra-regional white sugar until regional producers are able to supply the quantity and quality needed by regional manufacturers for their food and beverages operations.
This is according to Ramesh Dookhoo, Chairman of the Trade and Investment Committee of the Private Sector Commission (PSC), who attended the meeting last week.
This decision is in line with an understanding reached by the Guyana Sugar Corporation (GuySuCo) and the Guyana Manufacturing and Services Association (GMSA) to the effect that a CET will not be applied to extra regional refined sugar for use by food and beverage manufacturers until at least 2022, when production of the product is expected to begin in Guyana.
