(Jamaica Observer) The Council for Trade and Economic Development (COTED), Caricom’s trading and development arm, has issued a ruling against Jamaica’s soap manufacturing process.
This adverse ruling will affect Jamaican soap exports to the region.
In its recent, ruling COTED found the process of manufacturing soaps in Jamaica wanting and has directed Jamaica through the trade board not to issue any Certificates of Origin for soaps manufactured under the current manufacturing process in the island.
Lack of a Certificate of Origin from Jamaica may require an importer in a Caricom country to pay a tariff on imported Jamaican soaps. This will result in Jamaican soaps being more expensive and likely to be uncompetitive within the Caricom market.
However, one of Jamaica’s leading soap manufacturers, Blue Power Group, advised on Tuesday that it has been notified of the adverse ruling by the relevant Government ministries in Jamaica. Blue Power, which is listed on the Jamaica Stock Exchange, has issued an advisory to the exchange stating that the ruling will not affect the company’s sales within Jamaica and exports to non-Caricom countries such as the United States and the United Kingdom.