Oct 2009 Financial News

TCL in court action against Guyana govt

Oct 07, 2009

Claxton Bay producer Trinidad Cement Ltd (TCL) and its subsidiary TCL Guyana Inc (TGI) yesterday filed an application in the Caribbean Court of Justice (CCJ) against the government of Guyana requesting that the CCJ hold Guyana in contempt of court for failing to implement the Common External Tariff on cement from non-Caricom countries.

On August 20, the CCJ ruled that the government of Guyana was in breach of the Revised Treaty of Chaguaramas by failing to apply the CET on cement and thus, ordered that within 28 days from that date, Guyana implement and maintain the CET on cement from non-Caricom sources.

While an application was subsequently made to Caricom by Guyana to waive the CET on cement, this request was turned down before the 28-day deadline stipulated by the CCJ, TCL said in a statement yesterday.

Guyana has not taken steps to comply with the CCJ's ruling, TCL said.


Source:
Trinidad Express
Wednesday, October 7th 2009

http://www.trinidadexpress.com/index.pl/article_business?id=161541199