The Cabinet of Trinidad and Tobago agrees to the Suspension of the Quota and Registration System for Cement.
With the Suspension of the Quota and Registration System there will be no Quota on the volume of cement allowed for import.
The Quota and Registration System for Cement was instituted on January 1st 2021 with an initial ceiling of 75,000 tonnes of Cement allowed for import.
This decision was made further to the Ministry’s monitoring of market conditions in the cement industry and the recent announcement by Trinidad Cement Limited on February 5th 2024 of its intention to raise the price of cement by 6.63% for Premium Plus and 7.69% for its Eco Cement with effect from February 19, 2024.
This price adjustment is the fourth undertaken by TCL in the last twenty-six months.
In 2022, the maximum quota ceiling for cement allowed for importation was increased to 150,000 tonnes.
This ceiling remained in effect in 2023.
Cement remains on the Import Negative List and will continue to be subject to a licensing regime.
This Regime will be non-automatic and applications for a licence to import cement must be submitted to the Minister of Trade and Industry with the requirements that applicants are registered under the Companies Act, have adequate and appropriate warehousing facilities for the safe and reliable storage of imported cement; have an established distribution network; and must ensure all imported cement meets the relevant CARICOM Regional Product Standards inter alia.