In the July 25 edition of The Royal Gazette Chamber of Commerce president Phil Barnett said duty free shopping for tourists would help a struggling retail division.

During his interview he said: "At the moment there are no advantages to buying a Rolex on the Island." He clarified his comment yesterday.

Mr. Barnett said: "Although I said it more to make a point in regards to some of the retail division's members ongoing struggles to regain their foothold in attracting the 'well heeled' shopping tourist back to Bermuda, it was factually incorrect to use 'Rolex' to make the point.

"Therefore I would like it unequivocally stated that Rolex should not have been referred to.

"Suffice it to say, my point was to say that many retailers in the division believe that for Bermuda to regain its cachet as a shopping destination of choice to upscale, destination tourist shoppers, a restructuring on how we tax those global luxury items most targeted to Bermuda's 'ideal visitor' needs to happen. "Duty-free shopping on luxury items seems to be the idea that interests most retailers who target tourists as part of their market."