SANTO DOMINGO, April 9 (NNN-PRESNA LATINA) – The Dominican Republic and the United Kingdom signed an Economic Association Agreement in this capital together with the member countries of the Caribbean Forum of African, Caribbean and Pacific States (Cariforum).
According to a communiqué issued by the parties, the signing of the legal document is of great importance since it guarantees the continuity of all the commercial rights and commitments established in the Economic Association Agreement (EPA) between the European Union and the States of the Cariforum, once London materializes its exit from the block.
The Dominican Republic and the United Kingdom accelerated the signing of this agreement in virtue of the political situation that is happening in that last nation in relation to the Union, adds the information signed by the Dominican Foreign Minister, Miguel Vargas, and the British Ambassador, Christopher Campbell.
The new agreement and a Memorandum of Understanding to guarantee the application of the tariff preferences that exist in the EAA-European Union-Cariforum, was initially signed last March 22 in Saint Lucia by nine member of the forum, and on April 1, Trinidad and Tobago and the Dominican Republic were added.
With the conclusion of this process, the statement said, the Dominican Republic reaffirms its commercial policy of participation in trade agreements that guarantee preferential access to national goods and services to international markets and contribute to strengthening ties of trade, cooperation and regional integration.
Likewise, both governments ratify their intention that, independently of the circumstances of the departure of the United Kingdom from the European Union, they do not generate any alteration of the commercial relations with the Cariforo countries.
Finally, the note states that the intention of the Dominican government, shared with the British authorities, is to guarantee preferential access to the respective markets.
Dominican Republic and United Kingdom, to celebrate this agreement, share the objective of maintaining a close political and commercial relationship, which has existed since 1850, when this country signed its first trade agreement, coincidentally with Britain, concludes the statement.