Prime Minister Gaston Browne says Antigua and Barbuda will press CARICOM leaders to extend and broaden the suspension of the Common External Tariff (CET) in an effort to reduce the cost of living across the region.
Speaking on the Brown and Brown Show on Sunday ahead of the CARICOM Heads of Government meeting in Saint Lucia, Browne said lowering the cost of imported goods will be one of Antigua and Barbuda’s key priorities during the discussions.
“We’ll certainly be one of the countries that’s going to push for a reduction in the cost of living by asking for a continued suspension of the CET,” Browne said.
The Common External Tariff is a regional duty applied to goods imported into CARICOM from countries outside the trading bloc. Browne said Antigua and Barbuda wants the suspension extended beyond its current one-year period and expanded to cover additional products.
“I know it’s on a yearly basis. I think we should go to at least two years in the suspension of the CET,” he said.
The prime minister also said Antigua and Barbuda intends to advocate for greater access to lower-cost imports from the Dominican Republic as part of broader efforts to ease inflationary pressures.
“I have asked the Ministry of Trade to get me a list of products that the Dominican Republic possibly can supply cheaper than within CARICOM,” Browne said.
He added that CARICOM is also working toward a trade arrangement with Colombia that could provide member states with access to more competitively priced goods.
Browne said Antigua and Barbuda is well positioned to serve as a regional distribution hub because of its shipping links with markets in Panama, the Dominican Republic and South America.
While expanding access to lower-cost imports is a priority, Browne said the long-term solution to reducing the cost of living lies in increasing domestic food production.
“Ultimately, we will be able to reduce the cost of living by growing our own produce and having our own meats,” he said, while encouraging consumers to support locally produced food.
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