The Grenada Government has taken steps to ensure that there will be a guaranteed supply of cement to the country at least for the next two years.
A proposal put forward at the 17th meeting of the council for trade and economic development in Barbados over the weekend, resulted in a two-year suspension on the CET for the importation of cement.
The suspension will benefit Grenada and other OECS countries as well as Trinidad and Tobago.
The CET acted as a protection for local producers and suppliers of the commodity within the Caricom member states from extra regional competition.
The temporary opening of the market may be welcomed by some given the recent experience of a local firm.
The firm imported cement while there was an acute shortage and no sooner the cement reaching Grenada regional supplier TCL suddenly had enough cement to supply the regional market.
Trade Minister Nimrod said TCL has in the past proven that it is unable to keep up with the demand for cement.
Strategic trade advisor Dr. Patrick Antoine says it’s a good opportunity for more people to acquire licenses, and he challenged the dominant supplier to keep prices down.