BVI targets lower-cost goods in trade mission to Dom. Republic
The government is working to establish a trade partnership with the Dominican Republic in a bid to lower the cost of goods for residents, Premier Dr Natalio Wheatley announced.
“I’m going to be taking a mission to the Dominican Republic to see how we can secure a trade relationship that can help us to lower the price of goods in the Virgin Islands,” Dr Wheatley said while describing the neighbouring country as a Caribbean superpower.
“They are one of the largest recipients of direct foreign direct investment in the western hemisphere. They have a lot of agriculture and they produce a lot of products,” he continued. “We want to secure some relationships with the Dominican Republic, see if we could source some goods at an affordable price, and then we want to ensure we implement… a minimum basket of goods,” he added.
According to the Premier, the government views this as a multi-pronged strategy which would be able to regulate the prices of some essential items so that persons in the community who are earning minimum wage would be better able to afford the cost of living.
The Premier previously confirmed that discussions are planned with Dominican Republic President Luis Abinader to explore opportunities to bring economic relief to the BVI. “We have already reached out, and we are going to be meeting with the President of the Dominican Republic to explore how we can establish trade relationships,” he stated. “This will allow us to import goods and lower the cost of living for our people.”
Wheatley stressed that the government is looking for real solutions to ease financial pressures on residents. “What we are doing is not just talk—we are taking action. The cost of living is a major issue, and we are actively seeking ways to bring it down.”
The initiative follows previous government efforts to expand trade partnerships. In 2023, the BVI explored importing agricultural products from Guyana, but high shipping costs posed a challenge. “The high cost of shipping goods between the two countries is something the BVI government needs to examine closely,” Junior Minister for Agriculture Dr Karl Dawson noted at the time. The focus on the Dominican Republic could help mitigate such logistical hurdles due to its closer proximity to the BVI.
Wheatley reiterated that the trade mission aligns with the government’s broader economic strategy. “We are looking at innovative ways to reduce the cost of living and create opportunities for the people of the Virgin Islands. This initiative is part of that vision.”
The Premier said further updates would be provided as discussions progress. “We are committed to making this a reality, and we will keep the public informed every step of the way.”
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This took 20+ years to understand and execute.
Why hasn’t private enterprise done this already? Because government protects them from competition, so that an elite few can sit back and enjoy their fat profits at your expense. There is no incentive for them to get more efficient. Now government has to try and find a back door way to fix the damage caused by that lack of competition.
The self hatred is real. DOM Rep the purveyor of genocide of Black skinned Haitians? Andrew Fahie first thumping on his chest when reelected was to enable daily flights DR-BVI a more expeditious means for the DR illegal entrants,sex workers and human trafficking via that route.
Andrew got his fix.. zYtoo Sowande. In the DR Black blacks on the rare occasikn that theyare hired are the bathroom cleaners.
Black faces you won’t see as hotel clerks, airport personnel,taxi drivers etc. They are murdered routinely by the dingos and courts are not where they will find justice. These murders are not worthy of inquiries and justice.Of all th islands available for trade abd export on these waters you spit
on your kin. Daylight will catch you,no lie.The UK and the whyte establishmentpales in comparison to the doings of the DR people against Haiti. Daylight comin’ Your blind eye and participation will exact a suitable reward by the karmic and spiritual powers. Say I say.
it will never pass down to the consumer
the companies here will just save even more money and keep their prices the same
same way when andrew gave duty free for a time period and price never changed
bvi companies only care to make 500% profit on you even their sales or laughable
You’re so correct by saying the consumer will not benefit from this so called trade mission. What economic analysis did the honorable Premier conduct to arrive at his conclusion. This is similar to the tax break offered to local businesses some years ago that did benefit consumers. Premier, Come clean with the true purpose of your trip.
Lets look at what the government has done to assist the price of goods in the BVI.
1. Increased the wharfage from 1%-2% this is a 100% increase.
2. Remove the freight duty waver on resellers so we now pay duty on freight. This pushed the prices locally up a huge amount but the government is price gouging. e.g. item is $1000 electronic item, $250 freight We pay 15% on $1250 so now duty is 187.50.
Wharfage is not $20 to the additional duty collected by the government is $47.50 the duty on freight plus the 1% increase. This is shy goods are spiraling out of control. Fuel Surcharges push the freight up a lot but the Gov is collection before we then mark up the goods to resell in the BVI.
3. The New tarrifs on alcohol was changed from $1.20 per gallon to 15% this put $10 on the price of a $10 bottle of wine in a restaurant meaning was $30 not $40 at your table. This also includes balsamic viniger as made from wine so the duty were paying on food items is high.
4 Food duty is
Fresh Veg 0%
Rice 0%
Tinned veg 5%
Chicken 0%
Pork, Lamb, Beef 5%
Seafood 15% ***** Why 15%
Trying to eat healthy in the bvi on seafood is expensive. The tariffs dont make sense at all.
So the government should look closer to home before plannig on trade deals to other island and come up with a duty system that makes sense.
Why would this government want to import all these poison giving the sheeps the cancer
Who wants santo generic sh$t??? Strupes. We keep going backwards.
All of us know why he eager to GO DR!! Let’s not be fooled. Bring him here and let him tell some of his people that is here with us to stop being nasty and now getting lazy like locals. Mostly the men.
I love the DR but we seem to have been getting some of the worst coming to us lately.