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… TCL Group CEO calls it a classic case of wrong and strong By Gary EleazarPresident Bharrat Jagdeo must not only understand the Common External Tariff (CET) established under the Treaty of Chaguaramus when it is in relation to rice and sugar.This is according to Chief Executive Officer of the TCL Group,Jerseys From China, Dr. Rollin Bertrand, who while speaking with Guyanese media operatives at the Trinidad Cement Company Limited on Friday,Authentic Tobias Harris Pistons Jersey, questioned what incentive would there be for the cement group of companies to invest in the industry were it not afforded some protection under the CET.Chief Executive Officer of the TCL GroupAccording to Dr. Bertrand,Keith Magnuson Jersey, the CET is a fiscal incentive for investing in the region.He said it was the most convenient mechanism to encourage such investment,Jack Youngblood Rams Jersey, promoting greater economic stability among the 14 CARICOM nations.He drew reference to Trinidad which has massive development such as a giant steel plant but correlated it to the fact that the government there has “incentivise the project”.Dr Bertand also addressed the persons who questioned why the TCL Group could not compete with countries such as Venezuela and Colombia, stating that in the first instance there is little or no cost attached to the natural gas used in production in Venezuela while in Colombia no taxes are paid.He noted that before the TCL Group entered into the massive investment in Guyana, namely $11M, the CARICOM Council for Trade and Economic Development was approached and informed of the condition, namely that the CET be in place.“Now that we have done the investment, you can’t come and pull away the very framework that we made the investment on…it is not fair. What we are seeing in Guyana is really just kind of wrong and strong. Understand the rules when it applies.”While reminding that the CET was a tool to facilitate investment, Bertrand noted that when Guyana wants to invest in Agriculture or attract investors, incentives are put in place.He also questioned if CET were to be removed what would happen to the rice and sugar industries in Guyana.“All of us could go and buy from the United States or from Thailand. We could buy from everybody and what is going to happen to the region…there will be no investment…so we just become purchasers. We just remain as traders without no investment in the region.”President Bharrat JagdeoSpeaking directly to President Bharrat Jagdeo as Chairman of CARICOM,Sergio Busquets Jersey, Dr. Bertrand said, “Mr President, if as Chairman of CARICOM you want to encourage investment which you consider to be critical…unless you are prepared to offer me fiscal incentive in another form then I don’t see the rational for removing CET and especially when I am competing against a company in Colombia that has tax free status.”As it relates to the CET that Guyana waived and imported cement extra-regionally, Dr. Bertrand said that Guyana never made any application to COTED or the TCL Group to remove CET on importing cement.He recalled that prior to the waiver,Joe Mixon Jersey, the matter of CET came up at the COTED meeting and the question was asked of the Guyana representative, “Guyana, what is your position on the CET? And the representative of Guyana had nothing to say.”The TCL Group Chairman also addressed the genesis of the bagging plant in Guyana,Omar Vizquel Jersey, which he said was insisted upon by then Trade Minister, Clement Rohee, and was agreed to in light of the pending road to Brazil.This he said was a market which the company intends to target coupled with the fact that the CET be in place.“You know what upsets me about this is that we were invited to build that terminal. When Minister Rohee was the minister responsible for trade he was complaining bitterly about the fact that Guyana always running out of cement but it is nothing to do with us.”That being the case,Andre Ethier Jersey, Dr Bertrand stated, “We came up with a plan which we presented to the minister so that we could ensure distribution and bring down the average price.”He said that it was pointed out that the size of the Guyana market cannot justify a terminal since it is one of the lower bracket of demand for a terminal, adding that the Guyana market is really supposed to be supplied with bag cement.“When it gets over 150, 000 tonnes then you could be considered for a terminal.He said “No”. He wants a terminal because he needs storage in Guyana.”At that time the question of CET was raised and found not to be a problem.“Now we build the terminal, suddenly the story has changed and that is not fair to us. We have kept our side of the bargain. We have gone in good faith and now we are being held as if we are the biggest demons in the region.”He added that the TCL Group has a tax bracket and the Guyana Government is clearly favouring importation from a tax free jurisdiction in Colombia, “Where is the fairness?”He did point out that at present the TCL Group was open to discussion with Guyana toward an amicable solution in that, “we cannot have this back and forth in the media”.“At the same time we expect that Guyana will come to the table with an understanding of the principle of what we are trying to do.”In a comment seemingly aimed directly at President Bharrat Jagdeo, Dr. Bertrand said, “Don’t understand CET only for rice and sugar and say you can’t understand it for cement,Jung-ho Kang Jersey, that is not fair.”He said that he hoped that the group’s recent position with respect to the Guyana Government’s announcement of loans for the housing sector, demonstrated clearly that the TCL Group wants to work with Guyana to stimulate the construction sector.