National Assembly confirms Ministerial Order on CARIFORUM-UK EPA

The National Assembly, this evening, confirmed the Ministerial Order on CARIFORUM-UK Economic Partnership Agreement issued by Senior Minister in the Office of the President with responsibility for Finance Dr. Ashni Singh on December 30, 2020.  

The CARIFORUM-UK EPA is a roll-over agreement from the CARIFORUM-EU EPA which replicates all relevant sections of the existing EPA with the necessary technical and administrative changes to make the agreement operable in a CARIFORUM-UK context.

“This order is simple, said in 2008 members of CARIFORUM, of which Guyana is part, concluded an Economic Partnership Agreement with the European Union which included a number of provisions relating to market access between CARIFORUM and the EU and the preferential access in relation to specific goods and services,” Dr. Singh told the National Assembly.

He said following the decision by the United Kingdom to leave the EU, negotiations with UK member states led to the conclusion of a CARIFORUM-UK EPA. That agreement was concluded on in March 2019.

Though an order was issued by former Finance Minister, Mr. Winston Jordan in 2019, the absence of sittings of the National Assembly during that time saw the expiration of that Order.

Dr Singh said he had the privilege of issuing the new order on December 30, 2020. He said the effect of the Order is to enshrine into the domestic legislation, the provisions of the CARIFORUM-UK agreement signed in March 2019. That agreement preserves a number of trade opportunities, all within Guyana’s agenda for an expanded economy, accelerated economic growth, promoting improved incomes and livelihood for the Guyanese people.