Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 COMPANY CASE PROFILE TRINIDAD AGGREGATE PRODUCTS LIMITED Project Name: Development of Sustainable Exports to the European Union under the EPA – Focus on the FCOR Markets Prepared for exporTT Limited –Trinidad and Tobago By A-Z Information Jamaica Limited February 6, 2014 0 A-Z A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Table of Contents Company Particulars ............................................................................... 2 1.0 Overview.............................................................................................. 2 1.1 Product Features ................................................................................................................................. 2 1.2 Products and Services ......................................................................................................................... 3 1.3 Quality Management .......................................................................................................................... 3 1.4 Markets ............................................................................................................................................... 3 1.5 Reasons for entering the FCORSs........................................................................................................ 4 1.6 The export readiness assessment and preliminary market research. ................................................ 4 2.0 FCOR Market characteristics based on the result of the Exploratory Trade Mission/ Challenges and Opportuniites. ............................................................................ 6 2.1 EU Specifications and Regulations .................................................................................................... 12 2.2 Internal adjustments to meet the FCOR market requirements/ Market Entry Strategy for the products of interest ................................................................................................................................ 12 2.3 Nuances in Marketing to the FCOR ................................................................................................... 12 2.4 How has the company benefited from the approach taken to develop exports to the FCOR and the training provided under the Project? ..................................................................................................... 13 2.5 Overall lessons learnt ........................................................................................................................ 14 2.6 Requirements for follow up/consolidation of market entry ............................................................ 15 1 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Company Particulars Name of Company : Products and Services: Address: Telephone : Fax: E-mail: Website: Managing Director: Export Manger: Main Website TRINIDAD AGGREGATE PRODUCTS LIMITED Clay Products Phillip Augustus Road, Longdenville, Chaguanas, Trinidad (868) 665-4544 (868) 665-9673 cherylbalkaran@gmail. www.tapltd.net Dr. Trevor Townsend Mr. Keith Leggard http://www.tapltd.net/ 1.0 Overview Trinidad Aggregate Products Limited (TAP) is one of the leading producers of clay products in the region. The Company was established in 1976 and is situated in Longdenville in the Borough of Chaguanas which has significant deposits of the best blend of clays for making high quality clay products. The Company produces and markets a wide range of Clay products including hollow clay building blocks, decorative/ventilation blocks, bricks, LIFETIME CREATIONS clay paver tiles (glazed and unglazed) and LIFETIME CREATIONS flat shingle clay roof tiles (glazed and unglazed). The Company’s tile factory was commissioned in 2002 and is the only one of its kind in the Caribbean with an annual production capacity of 550,000 sq. m. and is located adjacent to TAP's block factory in Longdenville. The tile factory produces high quality glazed and unglazed clay paver tiles, decorative trim pieces and inserts and glazed and unglazed clay roof tiles. These tiles were first marketed under the brand name “CARIBE CERAMICS” but from 2012, have been promoted as “LIFETIME CREATIONS”. The Company now exports throughout the Caribbean, the USA and Europe.. 1.1 Product Features TAP products are manufactured from clay blends and subjected to heat treatment at elevated temperatures (firing). The heat treatment must develop a fired bond between the particulate constituents to provide the strength and durability requirements to meet or exceed the applicable industry specifications including those of the American Society for Testing and Materials (ASTM). Tiles are extruded and shaped during manufacture by the use of “stamping” technology. . TAP’s tiles are designed by experts with precision to ensure their supreme quality and long service life. The company 2 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 keeps abreast of developments in architecture and the built environment to constantly assess its products vis a vis market requirements. Under its Lifetime Creations brand, TAP produces a range of rustic unglazed and glazed clay floor and flat shingle roof tiles to add a distinctive island flavor to any environment, including homes, restaurants, offices, etc. These products are made from blends of red and grey clays and they range from the aged and weathered look to sophisticated and unusual patterns. 1.2 Products and Services TAP manufactures, markets and distributes hollow clay building blocks, decorative and ventilation blocks, wall cladding, roofing and floor paver tiles, glazed and unglazed clay tiles and an extensive range of of standard and custom roof tiles for commercial and residential use The company operates two (2) showrooms- one at its plant in Longdenville and the other at a convenient location in St. James. In addition the company provides support services to its customers including: Custom tile development and manufacture Installation guides; Design advice; Tile and wall block layout 1.3 Quality Management The Company is committed to producing quality products and since 1998 has received certification from the Trinidad & Tobago Bureau of Standards for maintaining a quality system in compliance with ISO 9002 for the production of non-load bearing hollow clay building blocks and clay decorative/ventilation blocks. In 2003, the company upgraded its Quality certification to ISO 9001 for the production of hollow clay building blocks and clay decorative/ventilation blocks and for the procurement and marketing of glazed and unglazed clay paver and clay roof tiles. The Company continues to embrace a strict customer satisfaction and quality assurance approach, which is pivotal to maintaining rigid standards and product quality demanded by the building industries in the target markets. 1.4 Markets TAP currently markets its tiles in Trinidad & Tobago, throughout the English speaking Caribbean, the USA and Europe under the brand name LIFETIME CREATIONS. Hollow clay building blocks, decorative/ventilation blocks, bricks are sold principally on the local market with some limited exports of decorative blocks within Caricom. The Company has been exporting to Martinique for seven years and wishes to tap the markets of French Guyana possibly by working through Suriname. The Company aims to supply 30% of its output to the local market and 70% to export markets. TAP is arguably the leading producer of its kind in the region and has a sizeable share of the domestic market. 3 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 The Company’s export marketing plan is integrated into the overall business plan and is focused on expanding exports. It is envisaged that as the construction of homes and other structures evolve in terms of style, comfort and the adaptation of climate resilient technologies and other environmental concerns, more and more people will be turning to clay tiles for their quality, durability, long life, and varied styles. The use of these clay products offers many advantages in terms of both old and modern styles, insulating properties, durability and weather resistance. 1.5 Reasons for entering the FCORSs With the coming into force of the EPA there is now improved market access to the EU markets and by extension the FCORs which prior to now have not been explored with any great intensity by the neighboring English speaking Caribbean territories, perhaps with the exception of petroleum products and some seafood products. The high per capita income level of the territories approximates that of metropolitan France and provides for a greater level of disposable income which on the surface suggests a relatively large market for consumer products. Furthermore the proximity of these French Territories, shorter transit time and relatively lower freight rates could be advantageous to Trinidad and Tobago companies entering this market vis a vis France which currently supplies the bulk of imports. The FCORs apply EU standards and are seen as a microcosm of the EU market. Thus TAP views these markets as a useful testing ground to further develop its exporting capabilities before increasing its efforts to penetrate the continental EU market. Developing these markets would also enhance the company’s goals of penetrating the wider regional Caribbean markets. TAP had been exporting limited quantities of its clay tiles to Martinique but seeks to expand beyond this territory by having distributors for its products across the FCORs. 1.6 The export readiness assessment and preliminary market research. Export readiness assessment was designed to provide insights on the following attributes: Significant management time and strong management commitment to export development Strength in the domestic market The resources to succeed Business and export planning in place While TAP has had significant exporting experience to the Caribbean Market inclusive of Martinique, the export readiness assessment revealed the status of the company’s preparedness as follows: Business process: Business processes are in place to support export Product and product readiness: The Company has systems in place to supply export orders– and was ISO 9001 certified in 2008. The fact that the Company had already exported to the UK and Martinique meant that for the clay tiles, the import standards have already been met. 4 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Market and marketing: The Company has a fairly high level of preparedness for market and marketing. 30% of itsproducts are sold on the local market and 70% on the export market. Export Marketing: The Company did not possess a formal export plan although the goals for export were integrated into its overall business plan. Export Experience: The Company had been exporting to Martinique/CARICOM/UK /USA. (Guyana is largest market in CARICOM). Products for the FCOR Market: The product being targeted in the FCOR market is Clay tilesboth floor and roof. Specific requirements: Company has been in Martinique for seven years and wants to tap French Guiana through Suriname. Areas of training need and other support: The Company required training in EPA opportunities and regulations as well as additional support in export planning (export audit/export strategy). 5 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 2.0 FCOR Market characteristics based on the result of the Exploratory Trade Mission/ Challenges and Opportuniites. While there remains further work to be done to fully characterize and quantify the market in terms of its growth potential and long term industry trends, both the Exploratory and Market Penetration Missions revealed some main market characteristics, challenges and opportunities for TAP Clay Tiles. The Company has identified potential new distributors in the earlier Exploratory Trade Mission. Therefore the focus of the Market Penetration Mission was to solidify partnerships with the companies identified as suitable distributors in the respective territories. As a result the following are the main outcomes: • In Martinique there continues to be a relatively small market for TAP clay tiles which are distributed through POTERIE DES TROIS ISLETS (a clay tile manufacturing company which uses locally mined clay materials). This company which was started by Missionaries in the early 18 century and now operated by a local Investor, is the only manufacturer of clay bricks in Martinique. The company imports decorative clay bricks and tiles from countries such as Italy, Spain and T&T to complement its product mix. The company has about 60% share of the local market for building bricks with its main competitor being a manufacturer of concrete blocks. The brick tiles are regarded as better for health and the environment and have been traditionally used for building durable houses in Martinique. • Trinidad Aggregate Products met with the GROUPE VM MATERIAUX subsidiaries, BTP and SAPRO, in French Guiana, during the Exploratory Trade Mission in January, 2013. Further research into this group of companies recognized mutual advantages for a strategic alliance. Consequently successful meetings with the decision makers for the Caribbean French Territories of this group of companies have revealed keen interest in TAP’s range of products (floor, wall & roof tiles) for Guadeloupe, French Guyana, Martinique and St. Maarten. • The market with the immediate largest growth potential was identified as French Guiana due to recent finds of commercial quantities of petroleum and an expected roll out of investments in oil exploration and the mining sector in general. That market is poised for exponential growth in population and by extension a high demand for housing which could translate into an immediate demand for TAP’s range of products. • It is envisioned that a mutually beneficial relationship between Trinidad Aggregate Products and VM MATERIAUX Group can materialize based on the initial approaches identified as follows: o The first order shall come from Guadeloupe. o French Guiana shall be ready for receiving shipment in September 2013, due to a recent decision, to have SAPRO relocated just next to BTP offices in the Industrial Zone, Cayenne. 6 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 o • Comparative price analysis between TAP products and similar products originating from Spain revealed that TAP products can be competitive in price and quality. However this depends on TAP receiving a favourable shipping rate especially to Guadeloupe. o In addition to receiving a more competitive price, in working with TAP, VM Materiaux group could gain through improvement in the regularity of supply (stock/availability of products) as well as in shorter delivery time (one week transit time from Trinidad versus two weeks transit time from Spain). VM MATERIAUX Groupe required the following documents from Trinidad Aggregate Products in order to commit to a trading relationship: o Certificate of Incorporation o Certificate of Amalgamation o ISO Certificate o Specifications of European Standards Figure1. Clay Products in Martinique Holloclay Vertical blocks and Decorative blocks 7 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Clay roof tile 8 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Floor and wall tiles 9 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Table1: Details of meetings held by TAP Representative; best prospects and follow-up requirements COMPANY COUNTRY Product(s) Names of Potential Buyers met/ visited Martinique (Floor, wall & roof tiles) GROUPE VM MATERIAUX subsidiaries, BTP and SAPRO, Poterie des Trois Ilets, Mr Jean Claude Brief on the Buyer/company Best Prospects for export business development/Marketing strategy Estimated value of export business committed Follow-up Required Comments /conclusions Trinidad Aggregate Products French Guyane GROUPE VM MATERIAUX subsidiaries, BTP and SAPRO, US $ 12,000 This is TAPs Distributor in the market. The manager responsible for French Guiana, Mr. Gerard CHAMBE & the manager responsible for the French Antilles ( Martinique, Guadeloupe & St. Maarten), Mr. Eric Stagnetto both showed tremendous interest in the range of products (floor, wall & roof tiles ). The market with the immediate largest growth potential is French Guiana. That market is poised for exponential growth in population leading to an immediate demand for the range of products offered, due to small findings of OIL and continued exploration for same This company will be able to carry a wider line of TAP products and seek to enhance sale over the Next 6 months. Further research into this group of companies following the exploratory mission, led to the Recognition of mutual advantages for a strategic alliance. US $12,000 TAP can offer improvement in the regularity of supply (stock/availability of products) as well as in shorter delivery time (one week of shipping versus two weeks) Orders from this company for French Guyana will be delayed until September 2013 pending the relocation of their outlet. Guadeloupe GROUPE VM MATERIAUX subsidiaries, BTP and SAPRO, The first order is expected from Guadeloupe Us $12,000 10 Documents Required By Groupe VM MATERIAUX from Trinidad Aggregate Products: 1. Certificate of The issue of shipping cost has to be investigated. Currently the FOB price of Tiles from TAP into Guadeloupe is Euro 0.95 compared with Euro 0.81 for a similar product from Spain(Landed Cost/pc (300mm*300mm) Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Incorporatio n 2. Certificate of Amalgamatio n 3. ISO Certificate 4. Specification s of European Standards Quartz & Deco – The representative is a Cuban who is in the market since 1988. He stocks high end goods and owns tile shops in Miami and Ecuador 11 Indications are that it is possible to obtain a competitive shipping rate to Guadeloupe thereby making TAP products competitive TAP may go back to visit the markets before the follow-up mission. Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 2.1 EU Specifications and Regulations The applicable European standard is CSN EN 1304- Clay roofing tiles and fittings - Product definitions and specifications. This standard specifies requirements for clay roofing tiles and fittings for pitched roof coverings and wall cladding and lining. It applies to all tiles and fittings as defined in Clause 3 of the standard. Clay roofing tiles and clay fittings which conform to this standard are suitable for use as roof coverings, vertical wall cladding and lining. This Standard defines the minimum requirements for a product which if satisfactory at the time of delivery will ensure that the product is able to perform its function in relation to the performance levels declared for it, whilst subjected to the changes that occur in such materials during normal conditions of use. The results obtained according to the Standard apply to products at the time they are offered for sale. The Trinidad and Tobago Bureau of Standards has been collaborating with ASTM in the development of standards for the construction industry hence the ASTM C1167 standard which is specific to clay roof tiles may also be applicable. This specification covers clay roof tiles with such durability and appearance that can provide a weather-resistant surface of a specified design. Each tile should be manufactured from clay, shale, or similar naturally occurring earthy substances and subjected to high-temperature firing. The tiles should be shaped by molding, pressing, or extrusion during manufacture. Generally, the tiles are planar or undulating rectangular and are classified into three grades according to the degree of resistance to weathering. Materials are also grouped into three types according to profile and rise-towidth ratio. Colors and textures produced by application of inorganic coatings are allowed except when the coloring is done by flashing or the texturing by sanding where the sand does not form a continuous coating. Each tile should conform to the specified values of durability, freezing and thawing, transverse breaking strength, efflorescence, reactive particulates, and permeability1. 2.2 Internal adjustments to meet the FCOR market requirements/ Market Entry Strategy for the products of interest The internal adjustments that are required for entering this market are minimal, given TAP’s experience in exporting to Martinique. Based on the requirements of the new potential partners, it will be necessary for the company to formally document the product specifications and standards as well as other details on the company. Given the need to focus on market development the company will need to gather details on shipping schedules and freight rates in addition to competitor analyses in order to adjust its pricing strategy. 2.3 Nuances in Marketing to the FCOR The Company has been fully exposed to the various nuances of the marketplace as they relate to the cultural, administration, taxes, regulations, distribution, business associations, the roles of the Chambers of Commerce, pricing and distributor margins. 1 ASTM C1167 - 11 -Standard Specification for Clay Roof Tile 12 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 Of particular importance is the application of the Octroi de Mer or dock Tax which is unique to the FCORs and presents to the new exporters a potential hurdle to exporting because it is generally not well understood and in some instances may present a technical barrier to trade. Table2: Import Taxes rates in Martinique, Guadeloupe & French Guyana (based on HS CODES) All 3 FCORs COMPA NY Trinida d Aggrega te Product s Ltd PRODU CT Blocks Tiles HS CODE 6810 11 6810 19 6802 10 DD (TEC) (regul ar) Ref. 1.70% 1.70% 0.00% DD (APE EUR 1) (1) 0.00 % 0.00 % 0.00 % Martiniq ue Guadelo upe TVA (2) (N/A in F.Guyan a) 8.50% 8.50% 8.50% Martinique OM (3) OM R (4) 20.00 % 20.00 % 10.00 % 2.50 % 2.50 % 2.50 % TOTAL (1+2+3 +4) 31.00% 31.00% 21.00% Guadeloupe OM (5) OM R (6) 15.00 % 15.00 % 7.00 % 2.50 % 2.50 % 2.50 % TOTAL (1+2+5 +6) 26.00% 26.00% 18.00% French Guyana OM (7) OM R (8) 7.50 % 17.50 % 15.00 % 2.50 % 2.50 % 2.50 % TOTAL (1+2+7 +8) 10.00% 20.00% 17.50% 2.4 How has the company benefited from the approach taken to develop exports to the FCOR and the training provided under the Project? Although the company had prior experience in marketing to Martinique and other destinations including the EU, it had not been exposed to a formal and systematic export development methodology and approach which advocates a stepwise approach to export planning and development. TAP’s exposure to the FCOR market was restrictive and depended on a single distributor which had its own domestic production and a somewhat narrow focus on supplying a single FCOR territory (Martinique). The exposure therefore allowed for a more fulsome assessment of the three territorial markets and a better appreciation of global market potential of the FCORs. The training followed international best practices for export development and was tailored to meet the needs of the exporters and exporTT as reflected in the needs assessment and export readiness assessment initiatives under the project. Overall, it was possible to demonstrate in the training how companies can follow a sound methodology and use the tools for structuring and systemising their approaches to developing new markets or for expanding efforts in existing markets. The Company will be able to use the knowledge and exposure gained in the marketplace to now develop its export strategy and plan for the FCORs as an integrated part, or extension of the company’s business plan and for fully appropriating opportunities at the lowest possible cost. The Company will be able to estimate the amount of effort it will take to enter the market and gain and sustain a reasonable position. The improved knowledge of the EPA as well as the sources of help for export planning to the EU markets should also be of value in enhancing future growth in exports. 13 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 The financial assistance as well as the provision of logistical planning support, including interpreter services, matchmaking and the scheduling of appointments with prospective importers, were effective in providing the exposure that otherwise would not have been possible should the company have tried to explore the FCORs on its own within the time spent in the marketplace. 2.5 Overall lessons learnt The following are the main lessons learnt: 1) Readiness to do Business: The visits to the market highlighted the relative degrees of readiness and preparedness among the participating companies that are required. Additional information such as brochures showing specifications including size, weight, pieces/box, number per container etc. must be presented for proper assessment 2. Physical presence is invaluable: The visit also allowed for further assessment of the market and competition that lies therein. By visiting the Territories, it allowed for assessments of innovations that exist in the marketplace and provided an opportunity for the seller to also introduce new innovations. For instance, TAP recognized the need for differentiation in the linear tile and surface coverings market and designed new cuts / shapes and sidings to respond to changes in architectural designs. From the visit to the market, TAP was able to do an evaluation of competitors’ products as well as gauge buyers’ interest in the new designs. 3. Company Profile: Suitably designed company profiles showing the manufacturing plant, catalogue of the products being offered with specifications and quality standards and having price information on spot are critical. Buyers want to understand the capacity and capability of the plant to ensure delivery of quality products on time and at competitive prices. Additional useful information for company profiles include plant layout, size, capacity, designs etc. Videos, where available, may provide better content than brochures / flyers. TAP was able through its well planned and designed presentations to engage the interests of potential buyers and to demonstrate a level of sophistication in the company’s outlook. 4. Ground Rules in approaching business in the FCOR: a. Rules and regulations, certification —Exporters must be compliant with EU standards b. Exporters must demonstrate capacity to produce. c. Psychology/Culture – The French Businesses people prefer to deal with the owner rather than a sales representative. They wish to make decisions on the spot and prefer face to face discussions. Exporters will need to know standards and inform the buyers on quality and compliance. 5) Market Assessment: Assessment of the market should not only be based on what is seen but also the projected economic activity. For example, expansion of certain sectors such as infrastructure will require a different range of goods than say oil exploration and food services. Geographical attributes and proneness to disasters for instance may require different building materials thereby opening up opportunities for new exports. The market intelligence has to go much beyond the basic operations of the market to consider other issues which affect the economy and market demand. 14 A-Z INFORMATION JAMAICA LIMITED Company Case Profile for TRINIDAD AGGREGATE PRODUCTS LIMITED: | exporTT LIMITED – FEBRUARY 2014 The availability of sea transportation both with respect to frequency, transit time and cargo rates are pivotal to gaining export competitiveness especially in heavy bulk products such as clay products. All of T&T’s export stakeholders will need to unite around the goal of achieving favourable cargo rates through negotiation with the Shipping Agencies. 6) Personal Agent: Having a personal Agent in FCOR can be a major part of the export company’s success. Having an agent on spot is very important as buyers want someone to relate to on a regular basis. It allows the exporter to understand exactly what the buyer wants. Penetrating the FCOR market requires an Agent on the ground that is persistent. Payment on a commission basis is recommended for the agent on the ground. Payment may be based on performance and payable on the execution of sales. Other fees may apply based on additional services being done by the agent such a registration of product etc. One Agent may be able to operate effectively in all FCOR Territories. 2.6 Requirements for follow up/consolidation of market entry TAP has the capacity to supply the FCOR markets and can be competitive given the relatively lower cost of production as well as a favourable freight rate. The Company will need to follow up the leads obtained and monitor the market to be able to make the adjustments necessary and consolidate relationships with Distributors. Ideally the exporters or groups of exporters or the Trade Promotion Agency should appoint an agent in each market to ensure sustainability of ongoing trade facilitation and market intelligence. In this regard a number of options are suggested and may include a collaboration with a Business School in each country or the engagement of private sector business trade facilitation experts who will liaise with Business Organizations, Chambers of Commerce and other organisations etc. The performance of these agents can be assessed through ongoing monitoring, output and reporting. In the case of the Business Schools, cost effective options such as the use of University Students who are doing graduate research and businesses case studies can be explored. Detailed market research reports as found in the USDA Gain Reports are good models to follow. Business promotion managers cannot always afford to spend too much time away from their businesses for this type of activity. Given the potential impact of the import taxes on the competitiveness of TAP’s products, efforts should be made at the Diplomatic/CARIFORUM/EU levels to review the level of taxation applied in the FCORs. 15 A-Z INFORMATION JAMAICA LIMITED
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