JIS News

Prime Minister Bruce Golding repeated government’s commitment to reduce tax barriers to trade with Europe in keeping with the Economic Partnership Agreement (EPA) signed by CARICOM nations and the European Union.
“We remain committed to our obligations under the EPA… Cabinet authorised the reduction of tariffs effective the first of January, which is part of our commitment under the agreement. We are not flinching…we are getting ourselves in line,” Mr. Golding said at the official opening of the new distillery at Clarendon Distillers Ltd (CDL) on December 15 on the Monymusk Estate. CDL is a subsidiary of National Rums of Jamaica (NRJ). In his remarks, Mr. Golding noted that the government was optimistic that the sugar industry was going to “become part of the engine of growth of the economy”. He paid tribute to the skillful handling of the CDL modernisation by the NRJ and thanked the European Union Ambassador, Marco Mazzocchi Alemmanni, for the critical role he played in the success of the project. The distillery earns foreign exchange from the export of bulk rum. It also distills product for two local brands.
NRJ successfully modernised CDL by raising some 65 million pounds in loans and benefitted from funding from the European Union available for improvements to the sugar industry. It also attracted international spirits industry shareholders including Demerara Distillers of Guyana; West Indian Rum Distillers of Barbados and Diageo of the UK.