The Ministry of Foreign Relations delivered to UK Ambassador Mockbul Ali Obe the approved trade regime that will govern trade bewteen the UK and the Dominican Republic once Brexit goes into effect. The agreement with the UK encompasses many of the provisions in the European Union Economic Partnership Agreement. The agreement passed in Congress in September 2019.
Minister Roberto Alvarez explained that the new agreement is a roll-over of all the rights and commitments established in the Economic Partnership Agreement between Cariforum and the European Union (better known as EPA). The DR and the Caribbean Common Market (Caricom) make up Cariforum. The UK-Cariforum agreement does not imply new concessions by the signatory countries, nor does it erode the region’s products’ access preferences to the British market.
“Being the Dominican Republic the main Caribbean exporter of goods to the UK market, this agreement comes to ensure that agricultural exports, mainly bananas, continue to enjoy the preferences in the British market,” said the minister.
Trade between the Dominican Republic and the United Kingdom was US$307.6 million in 2019. Of these figures, US$109.7 million were Dominican exports to the United Kingdom, while US$197.9 million was imports from the UK. During that year, exports of Dominican products to the British market grew by 4.4% compared to 2018, according to figures from the Customs Agency.
The Ministry of Foreign Relations said that 95% of exports are organic bananas (79%), dates, figs, pineapples, avocados, guavas and mangos. The principal Dominican imports from the UK is whisky, with 39.5%.
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Ministry of Foreign Relations
Acento
13 December 2020