CARICOM seeks continued partnership with UK post-Brexit

Nov 11, 2017 News

The Caribbean Community (CARICOM) has opened talks with the United Kingdom in an effort to ensure trade and other policies remain in place after the British exit the European Union.

CARICOM Secretary-General Ambassador Irwin LaRocque (centre) at the 45th Ministerial Meeting of COTED.

CARICOM Secretary-General Ambassador Irwin LaRocque assured regional trade Ministers of the development during the opening of the 45th Ministerial Meeting of the Council for Trade and Economic Development (COTED), which concluded yesterday at the Marriott Hotel, Georgetown.
The region’s response was discussed at the meeting as it relates to external trade, in particular the decision last year by the United Kingdom to leave the European Union. He noted that Council will examine proposals for advancing the technical work in that regard.
According to Ambassador LaRocque, trade between the Region and the UK is currently governed by the provisions of the Economic Partnership Agreement with the EU.
“Both parties have begun preliminary consultations towards ensuring that there will be no interruption in our trade post-Brexit,” the Ambassador disclosed.
He stated that as small economies, the region has a vested interest in maintaining the integrity of an open international trading system.
However, Ambassador LaRocque noted that at this time there is increasing uncertainty about the future of a multilateral trading system which places emphasis on development issues. He noted that the participation in the Eleventh Ministerial Conference of the World Trade Organization (WTO), which will take place in December of this year, will be crucial.
“This gives us an opportunity to reaffirm the importance we place on a trading system that recognises the needs of small vulnerable economies, particularly at this time given the intensifying effects of climate change,” the envoy stated.
Britain voted to leave the EU on 23 June 2016 in a referendum that was popularly referred to as Brexit. At the end of March 2017, Britain’s Prime Minister, Theresa May, officially triggered the process for leaving the EU. The process will take about two years.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News