Caribbean Sugar Association congratulates Belize for addressing CCJ sugar trade issue – Love FM
The Caribbean Sugar Association (SAC) commended the government of Belize for taking the Caribbean Court of Justice to settle the issue of the common external tariff on brown sugar exported to Trinidad and Tobago. The SAC issued a statement yesterday saying it might appreciate Belize’s decision not to seek compensation, as the issue is likely to be more about lost opportunities than financial rewards. According to the SAC, they have reported this problem over the past three years, indicating that the value and demand of the CARICOM market for regional sugar producers has been significantly diluted. Lawyers representing the Government of Belize have provided evidence that over 4,000 metric tonnes of sugar were imported without paying any CET registrations. This evidence was underscored by a dramatic drop in brown sugar prices during the same period. Love News understands that importing brown sugar into Trinidad and Tobago by a producer other than a CARICOM state is in violation of the Revised Treaty of Chaguaramas (BTI). According to the SAC, the protection of the brown sugar market as set out in the BTI is a small contribution to maintaining the viability of this industry and which, according to the SAC, should be strictly maintained and enforced.