An initiative to save the paints and varnishes industry has been given the thumbs up.
Vice President of Operations and Head of the Business Unit at Harris Paints Barbados, John Marshall, tells the Business Report the move will save the industry from unfair competition.
He said the Council for Trade and Economic Development (COTED), the CARICOM coordinating body, had taken the step to support the region’s industry and alter the Common External Tariff on paints and varnishes by 35% by July 1st next year.
The decision was taken at the 60th regional meeting of COTED, chaired by Barbados’ Minister of Foreign Affairs and Foreign Trade, Kerrie Symmonds.
Saying he would have liked to see the measure implemented sooner, the paint company official said stakeholders would be seeking to put their houses in order in time for the change.
