Jamaica and other Caribbean countries have managed to carve out a measure of certainty with the United Kingdom by inking a critical post-Brexit preferential trade deal this afternoon.
The announcement was made in a statement today by Foreign Affairs Minister, Kamina Johnson Smith. Minister Johnson Smith along with nine Caribbean Ministers signed the agreement alongside UK Trade Minister George Hollingbery.
The agreement preserves existing preferential trade terms between the countries and the United Kingdom in a Post-Brexit era. The move is critical as the terms by which the United Kingdom will exit the European Union still remain uncertain at this time.
The EU has agreed to a delay to the UK’s exiting of the Union after the British Parliament again rejected Prime Minister Theresa May’s Brexit deal earlier this month. They also voted to remove a No-Deal Brexit as an acceptable alternative to Theresa May’s plan.
In welcoming the maintenance of the preferential trading arrangements, Minister Johnson Smith said continuity and certainty are key to Jamaica’s business community and government.
She says given that the United Kingdom is Jamaica’s largest trading partner within the
EU, it has been important for Jamaica, since the Brexit referendum in 2016, to work within CARIFORUM to preserve existing trade terms notwithstanding uncertainties regarding the Brexit process.