In a formal letter addressed to the Honourable E. P. Chet Greene, Minister of Foreign Affairs, Agriculture, Trade, and Barbuda Affairs, CARICOM Paint Manufacturers have urgently requested a meeting to present the findings of their comprehensive consultancy report titled “Trade in Paints and Paint Related Products: An Investigation into Unfair Pricing Practices and Possible Remedies.”
The study, commissioned by CARICOM Paint Manufacturers and coordinated by the CARICOM Private Sector Organization (CPSO) at the invitation of the CARICOM/Regional Paint Manufacturers, aims to address the substantial under-pricing of paints from the United States (US) that has significantly impacted the regional paint market.
Individual paint producers within the CARICOM region have repeatedly raised concerns about unfair pricing practices over the past several years.
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While some governments have attempted to address the issue, the impact has been limited, necessitating a coordinated response through the Council for Trade and Economic Development (COTED).
The letter emphasizes the importance of a ‘whole of community’ response via a Common External Tariff (CET) alteration rather than individual country actions.
The under-pricing threatens the success of the paint industry in the OECS and LDC, eroding price competitiveness and market share within both LDC and MDC markets.
The CARICOM Paint Manufacturers, unified under the CPSO and the Caribbean Manufacturers Association (CMA), seek government support to establish fair and equitable conditions of trade for paints in the CARICOM Single Market and Economy (CSME).
The letter proposes a meeting prior to September 29th, ahead of the upcoming session of the COTED mandated ‘Open-Ended Working Group’ (OEWG) on October 2nd.
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Marguerite Desir, speaking on behalf of CARICOM Paint Manufacturers, anticipates a positive response to their meeting request as they seek redress against the under-pricing that poses a significant threat to innovation, industry expansion, and the overall business continuity of regional paint producers.
This collaborative effort by the regional paint industry aims to bring attention to the urgency of addressing unfair trade practices and fostering a competitive and sustainable environment for paint manufacturers within the CSME.
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