545 Export License Applications Processed Since February 2023 Reopening Of Scrap Iron Industry

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545 Export License Applications Processed Since February 2023 Reopening Of Scrap Iron Industry

Since the reopening of the scrap iron industry on February 24, 2023, the Trade Licence Unit has processed five hundred and forty-five export licence applications for scrap metal.

According to provisional data from the Central Statistical Office the total Scrap Metal exports since the reopening in 2023 was valued at approximately TT$1.1 billion.

This information is revealed by the Ministry of Trade and Industry Friday.

It comes following a meeting the Trinidad and Tobago Scrap Iron Dealers Association held Friday with Trade and Industry Minister, Paula Gopee Scoon.

The meeting discussed progress in the implementation of the Scrap Metal Act 2022, the upcoming proclamation of Section 3(1) of the Scrap Metal Act 2022 on Scrap Metal Collectors, related sensitization sessions to be held and plans to increase the number of Scrap Metal Inspectors.

On May 8, 2023, the remaining sections except Section 3(1)(2) of the Scrap Metal Act 2022 and the Scrap Metal Regulations 2023 were proclaimed and came into effect.

These two pieces of legislation now governs the regulation of the Scrap Metal Industry and brings into effect a new licensing regime for the Industry.