Business

BVI Calls for Dialogue as USVI Weighs Tariffs in Growing Trade Dispute; Gittens Responds to Bryan

The British Virgin Islands government has responded to rising tensions with the U.S. Virgin Islands over proposed fee increases on USVI charter yachts, urging dialogue instead of retaliatory trade measures. Premier Natalio Wheatley spoke of the economic interdependence between the territories and the need for a fairer distribution of economic benefits from marine tourism. Speaking at a press event on Friday, Premier Wheatley acknowledged that the BVI and USVI have long depended on each other’s economies, particularly in tourism and marine trade. He pointed out that while USVI charter companies generate nearly $100 million annually, their financial contributions to the BVI remain minimal. A single USVI charter company can generate between $50,000 and $100,000 per week, yet the annual commercial vessel license fee paid to the BVI is just a few hundred dollars per vessel, he said. The BVI government, Wheatley stated, has taken steps to modernize legislation governing charter operations....