Beautiful Virgin Islands

Thursday, Jul 03, 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
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
×