Friday, July 04, 2008 12:47 AM
T&T Gov't: No Need to Panic About Eligibility for Duty-Free Exports
Government believes there is no need to push the panic button over the United States decision not to grant duty –free access for exports from this country in the next 2 years.
On Tuesday, U.S. President George W Bush told U.S. Congress this country’s economy had been doing so well it was no longer eligible for duty free access for exports.
The measure will take effect from January 1st 2009.
However, speaking at the weekly post cabinet news briefing at White Hall this afternoon, Information Minister Neil Parsanlal said the development is cause for concern not alarm.
He said in the coming days the government would give more information on its response to the situation.
Finance Minister Karen Nunez Tesheira said the development shows that the country’s economic performance and management is getting better.