BAHAMAS. Juice drink manufacturers in the Bahamas are still reeling from the decision to slash tariffs for rival imports by 50%. “The challenge now is that it is much more cheaper to purchase the imported products than it is to purchase ours. I wonder if people understand how significant this tariff rate has been on our market. It’s not difficult to compete; it’s impossible.” Said Mervin Sweeting Jr, president of Switcha, the Bahamanian juice brand, in Tribune Business.
“Had they reduced tariffs along with Business Licenses, electricity costs and other taxes we could compete, but with no concessions added and reduced duty for foreign competitors, it doesn’t bode well for us,” said Mr Sweeting.
“The Bahamas is hostile towards our business model and industry, and that is a sad thing. We have to now think of ways to counteract what has happened. We have seen in the past entire industries wiped out by government policy, and I don’t think that the Bahamas can afford more people losing their jobs.”