The CARIFORUM Trading Block has reached a Post Brexit Economic partnership agreement (EPA) with the UK
EPAs are principally development-focused trade agreements that aim to promote increased trade and investment. They contribute to sustainable growth and poverty reduction in developing countries.
The UK and 12 CARIFORUM states have signed the CARIFORUM-UK EPA. It will be the basis of economic and trade relations once the EPA enters into effect. This EPA replaces the CARIFORUM-EU EPA.
In the CARIFORUM-UK EPA, the UK commits to providing immediate duty-free, quota-free access to goods exported from these 12 CARIFORUM states.
In exchange, these 12 CARIFORUM states commit to gradual tariff liberalisation of goods. Some domestically sensitive products in these CARIFORUM states are excluded from tariff liberalisation.
To fully realise the opportunities that the EPA can bring to these CARIFORUM states and the UK, the EPA envisions development cooperation between these CARIFORUM states and the UK to support the full implementation of the EPA.
The EPA contains provisions such as on intellectual property and geographical indications, government procurement, competition, services, and trade remedies.
The UK-CARIFORUM agreement is expected to take effect from 1 January 2021.
The countries that will be covered by the CARIFORUM-UK EPA are:
Antigua and Barbuda
The Commonwealth of the Bahamas
The Commonwealth of Dominica
The Dominican Republic
The Republic of Guyana
Saint Christopher and Nevis
Saint Vincent and the Grenadines
The Republic of Trinidad and Tobago
A WINDOW FOR POST BREXIT TRADE
Trade windows will be required for UK Organizations to maximize the benefits of the CARIFORM-UK EPA and vice versa. CARIFORUM.Trade will operate as such a Trade window, and will use features as detailed below to facilitate this
Video Conferencing has now become an essential prop for Trade.
The Video Conferencing Programme featured on this site from Conferences.Center, will help enable business relationships, and plan projects.
Conferences.Center facilitates Video conferences, online meetings, and chat sessions. These play a significant role in providing and maintaining good communication which is very important for Trade.
This site is part of a wider Trade Networks Programme, which brings together Buyers, Manufacturers, Sellers, Supply Chain Finance Providers, and other players in relevant Supply chains. Buyers, can enjoy the benefits of accessing suppliers easily, wherever they are. Suppliers, can also access buyers, as part of a Blockchain Facilitated Programme.
The Coronavirus Pandemic means that the way business is done will never be the same again. However, it has thrown up new opportunities. Those who adapt fast and digitize their business, will be able to take advantage of these new opportunities. This site can help organizations take advantage of those new opportunities.
A range of Blockchain services can be accessed from this site. As far as Blockchain Adoption is concerned, it can be overwhelming for organizations to consider adopting a new process that also requires a steep learning curve of a new technology.
Users of this site can access simple entry points to utilize Blockchain for Trade, in a relatively simple and straightforward manner that requires no technical integration. A full training and support Programme is also available on request. Please contact us for more information.
All trade parties on the Blockchain can share data as they deem appropriate. Some Features of the Blockchain are detailed below.
Blockchain can eliminate the need for trust in transactions, thanks to the fact that it facilitates the use of transparent and immutable smart contracts.
Blockchain offers potential for easing and speeding up transactions between trading partners. Advantages include:
– Improving supply chain visibility and transparency
– Reduction of transaction costs
– Tracking of products moving through the supply chain
– Facilitating the sharing of information across the Supply Chain
Please contact us for more information on the above. Please also see links below that can help access useful information, as well as useful online services for Trade.