Post BREXIT: Minister of Finance issues Order to give legal effect to EPA CARIFORUM-UK

Senior Minister with responsibility for Finance, Dr Ashni Singh

As a result of Britain’s recent departure from the European Union (BREXIT), the Senior Minister for Finance, Dr. Ashni Singh today made the Order to bring into force CARIFORUM-United Kingdom (UK) EPA and to confirm Guyana’s partnership with the UK.

Just before the end of 2020 and just before BREXIT came into force, the Minister for Finance had signed the Order stating that entry into the UK market would remain unbroken after the new CARIFORUM-UK agreement was entered into. publishing.

The Ministerial Order signed on December 30, 2020 sought to bring into force the final agreement on January 1, 2021 to allow the continuation of the favorable trading and investment relations that already exist for CARIFORUM provinces trading with the UK.

Following the UK’s June 23, 2016 referendum to leave the EU and concerns raised about the likely negative impact this would have on regional trade, CARIFORUM Ministers and the UK Government agreed to the CARIFORUM-EU-EPA transfer to take effect once the UK finally left the EU. The transfer agreement resulted in EPA CARIFORUM-UK and would allow for a seamless process to secure seamless market access and other EPA benefits to itself and CARIFORUM in trade with the UK.

Following his presentation of the Order, Minister Singh reiterated that his government regards the United Kingdom as a very valuable trade and economic partner and for that reason attaches great importance to ensuring a seamless transition to the spill post-BREXIT in the interest of ensuring a seamless market. access as well as continuing and increasing levels of trade between the two countries.

The Order is expected to be debated at the next sitting of the National Assembly.

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