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Trade deal with DR will help lower price of goods in VI- Premier
The Premier, speaking on ‘Da Morning Braff’ on Tola Radio (100.5 FM) on Tuesday, February 4, 2025, explained the government’s new approach to implementing the increased minimum wage which will now be $8.50 per hour.
With this increase of $2.50 taking effect sometime this year, Dr Wheatley said companies are bound to pass this on to their customers, driving up the cost of living.
DR trade mission may help lower prices of goods- Premier
The Dominican Republic, Premier Wheatley told listeners and host Mr Floyd P. Burnett aka ‘Heritage’, is one of the largest recipients of foreign direct investment in the Western Hemisphere and one of the VI’s neighbours.
“They have a lot of agriculture, and they produce a lot of products. I’m going to be taking a trade 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,” he explained.
VI should plant food too- Heritage
Heritage interjected by saying, “Planting and farming should be part of that mandate of overall security too; remember people have elected you guys with a mandate concerning food.”
The Premier agreed with Heritage on his point but quickly continued, “Even if we plant food, we are not going to stop importing food into the Virgin Islands, you’ll have certain things you need to import still,” he said.
The mission, Dr Wheatley added, is to secure relationships with the Dominican Republic, and source goods at an affordable price.
The Premier said the government also plans to have a minimum basket of essential goods, of which the price can be regulated by the government.
“So that those persons in the community who are making a minimum wage would be able to afford the cost of living,” Premier Wheatley stated.
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