GEORGETOWN – The United Kingdom is assuring Caribbean Forum (CARIFORUM) countries that while it remains a member of the European Union (EU), trade will continue under the terms of the Economic Partnership Agreement (EPA).
EPACARIFORUM countries, comprising the 15-member Caribbean Community (CARICOM) and the Dominican Republic signed the EPA accord with Europe in 2008.
On Thursday, representatives of CARIFORUM states met with the United Kingdom’s Minister of Trade Policy, Greg Hands, to discuss UK-CARIFORUM trade relations and according to the joint statement issued afterwards, the Caribbean welcomed the UK’s commitment to the EPA as well as the UK’s intention to avoid disruption for its trading partners as it withdraws from the EU.
The statement noted that the UK is in the process of exiting the EU and that while it “remains a member of the EU, trade between the CARIFORUM states and the UK will continue to take place under the terms of the CARIFORUM-EU EPA.
“The CARIFORUM Ministers welcomed the UK’s commitment to the CARIFORUM-EU EPA and its intention to avoid disruption for its trading partners as it withdraws from the EU.
“The CARIFORUM Ministers also welcomed the UK’s desire to maintain current market access to the UK following its withdrawal from the EU, and to ensure continuity of the effects of the CARI FORUM-EU EPA,” the joint statement noted.
It said that the two sides agreed to progress discussions to explore ways to ensure that the existing trade arrangement between the UK and CARIFORUM states, currently governed by the CARIFORUM-EU EPA, will not be disrupted by the UK’s departure from the EU.
“This will be a technical exercise to ensure continuity in their preferential trading relationship, rather than an opportunity to renegotiate existing terms,” the statement noted. (CMC)
