Beautiful Virgin Islands

Wednesday, Jul 23, 2025

New Trade Laws Will Address Businesses Operating Both Retail & Wholesale Outlets

New Trade Laws Will Address Businesses Operating Both Retail & Wholesale Outlets

Under the new, soon-to-be-implemented Trade Laws, companies will no longer be approved by the Trade Commission to conduct retail and wholesale businesses in the same market.
Policy Analyst Lizette George said while responding to questions from Claude Skelton Cline during his Honestly Speaking show on Thursday, “That’s actually something the board can look at in terms of how the market operates and if, in fact, they are going to allow large companies to come in and just do distribution, not even wholesaling, because wholesaling is actually one of the areas that are reserved in the Act for BV Islanders, Belongers.”

She added, “The fair competition policy which will eventually become an Act, will speak to those things in terms of ensuring that these big conglomerates do not disadvantage or disenfranchise locals and smaller businesses.”

However, she added, for companies that fall in that category that currently exists would remain.

“The Act will not touch them or disadvantage them,” she pointed out.

Another area that will be on the table will be the issue of weights and measurements in the market, she explained.

“Those things will be addressed, and that’s the reason why I said that this agency is going to be a highly technical agency because these are the things we are going to be looking at. Looking at the weights and measures, and all of those things that require good business practices when offering goods or services to our consumers.”

Meanwhile, Junior Minister for Trade and Economic Development Hon. Shereen Flax Charles said the government is aware of the flaws that exist in the system.

“We are quite aware of a lot of these things which are not correct or not totally correct within the business sector and throughout and we will aim to right those things. What I will tell you is that nobody likes change but sometimes change happens, and you kick up, but five months down the road, you realize, you know what? There is more benefit to it. We have to tackle them head-on, we cannot continue to sweep them under the rug so to speak.”

They spoke against the backdrop of the ongoing consultations on the Business Licensing Act 2020 and the Virgin Islands Investment Act 2020 that had their first readings in the House of Assembly.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
×