Chamber of Deputies ratified the Economic Partnership Agreement (EPA) between Cariforum States and the United Kingdom of Great Britain and Northern Ireland. The treaty received the positive vote of the deputies on 16 September.
Speaking for the British Chamber of Commerce, Leonel Melo stressed the treaty’s importance to trade relations between both countries. He highlighted the United Kingdom is the largest buyer of Dominican organic bananas.
“The ratification of the agreement represents a great achievement for the present administration and reaffirms its commitment and awareness of the relevance of the relations between both countries, as well as the protection and promotion of Dominican exports and foreign investment,” said Melo who presides the British Chamber of Commerce.
In 2019, organic banana exports to the United Kingdom amounted to approximately US$110 million.
Fernando González, president of the Commonwealth Round Table, said that the Agreement’s approval sends a very positive signal to the Dominican population and the international community that this country is moving forward with interest in development.
The bilateral agreement is essentially a duplicate of the existing Economic Partnership Agreement between the European Union (EU) and Cariforum, which guarantees that jobs, bilateral trade and tax revenues are generated by trade relations between the United Kingdom and the Dominican Republic can be protected.
Given the United Kingdom’s exit from the European Union, the Agreement seeks to maintain the preferential market and guarantee favorable conditions for the import and export of products between both countries.
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Diario Libre
17 September 2020