Sunday, February 25, 2018

Quota stays for foreign vehicles

Used-car dealers in full support

The Ministry of Trade yesterday announced it will maintain the current quota allocation system for used cars coming into Trinidad and Tobago.

Foreign used car dealer Inshan Ishmael said yesterday he supported "fully 100 per cent" the decision by the Ministry of Trade.

"Thank God," he told the Express in a brief telephone interview.

Ishmael also praised Trade Minister Vasant Bharath as one of the best trade ministers the country had seen.

He said that most used car dealers did not use the full quota.

Used dealers can import a total of 13,500 foreign used vehicles into the country per year.

He was responding to a statement by the Trade Ministry announcing the decision to maintain the quota system. The ministry noted that the decision was made following a review of the efficiency of the local used car regime "in the context of economic diversification". The ministry stated that active used car dealers are advised that all requests for increases in the existing allocation are being reviewed. An active used car dealer is defined as a registered used car dealer who has utilised all or a portion of his annual quota within the past three years.

Inactive used car dealers are required to re-register in order to be considered for future allocations. An inactive used car dealer is defined as a registered used car dealer who has not utilised his import licence during the past three years

Applicants for new used car dealerships are also invited to submit applications for consideration, the ministry said. The ministry noted that all applications should be addressed to the ministry's Trade Licence Unit, Trinidad and Tobago Manufacturers' Assocation building, Tenth Avenue, Barataria and the deadline for submission of all applications is December 28.

Further information can be obtained by contacting the Trade Licence Unit at 674-3545 or 675-8242.