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 Quota System for Cement from January 2021

Quota System for Cement from January 2021

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FROM the first day in January 2021, cement will be imported based on a quota system.

The annual quota ceiling will apply to building cement and other hydraulic cements and the maximum allowed would be 75,000 tonnes.

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The Ministry of Trade and Industry in a press release on Monday informed the public of the Quota, Import Licensing Regime and Registration System for Cement (Building Cement – Grey and Other Hydraulic Cements) effective January 1, 2021.

This system will be in place for three years and will be applicable to all importers and distributors.

The ministry stated that importers and distributors of the stated types of cement must be  first registered with the Trade Licence Unit (TLU) of the Ministry of Trade and Industry.

To be registered, importers and distributors must be registered under the Companies Act for at least five years, have a permanent address and location, be registered with the Board of Inland Revenue (BIR), Value Added Tax (VAT) Office and the National Insurance Board (NIB), have adequate and appropriate warehousing facilities for the safe and reliable storage of imported cement and an established distribution network.

The ministry added that all imported cement must meet the relevant CARICOM regional product standards.

Those wishing to register can visit the Ministry of Trade and Industry’s website at www.tradeind.gov.tt/documents-resources and complete the application form.

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An onsite investigation on the warehousing facilities available for the safe and reliable storage of imported cement will be conducted by the Trade Licence Unit, the ministry stated.

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