May 2011 Financial News

Dom Rep begins to off-load Carib Cement shipment

May 27, 2011

A shipment of Jamaican cement exported by the Caribbean Cement Company that has remained impounded by Dominican Republic authorities since mid-April has began to be off-loaded.

The consignment of cement, valued at some US$250,000 was imported by the Dominican Republic company, Docemca. However, ADOCEM, a local cement organisation which includes the giant Mexican producer Cemex deemed the Carib Cement product to be of low grade.ADOCEM maintained that the cement entering the country from Jamaica was in breach of several regulations and procedures required for the production, import and marketing of the product. ADOCEM's complaints led to the seizure of the shipment by consumer rights agency. Pro-Consumidor.

Carib Cement made it clear that it had complied with all the requirements for entry into the Dominican Republic with both its product and laboratory tested and audited and found to be satisfactory by the relevant authorities. It transpired that Carib Cement's product was to be sold in the country for RD$260 a bag which would make it cheaper than the RD$310 for the locally manufactured product.

Jamaica's Minister of Industry and Commerce Karl Samuda issued an ultimatum demanding that the Dominican Republic authorities off- load the shipment and when that was blithely ignored, he imposed a licence on imported cement coming into Jamaica.

In response to the commencement of the off-loading of the Carib Cement shipment, Minister Samuda described it "as a positive development that can only serve to enhance and improve trading relations between Jamaica and the Dominican Republic." Samuda added that he looks forward to future cooperation between both countries in respect to the export of cement and other products to the Dominican Republic.


Source:
Jamaica Observer
Friday May 27, 2011

http://www.jamaicaobserver.com/business/Dom-Rep-begins-to-off-load-Carib-Cement-shipment_8895541#ixzz1NYv1SgMe