NEW TRADE AGREEMENT WITH THE EU

NEW TRADE AGREEMENT WITH THE EU

Posted by : Quoting Solomon Times on Line Posted on : 27-Mar-2020

“The EU has decided to include the Solomon Islands in its trade agreement with the Pacific states, which will allow tuna caught there to be exported to EU markets without duties.

“On Feb. 17, the EU council confirmed the Solomon Islands would be part of the interim Economic Partnership Agreement (EPA) between the EU and the African, Caribbean and Pacific (ACP) group of states.

"Under this EPA membership, [the] Solomons now join Fiji and Papua New Guinea as able to enjoy qualified duty-free exports to the EU. In the case of the Solomons, this could include tuna loins and canned products produced in qualified shoreline plants," a source told Undercurrent News.

“The Solomons loin plant is 100% owned by Tri Marine International /Bolton Group International, and has been sending duty-free loins to the EU under the generalized scheme of preferences, the source also noted, adding that this EPA should formalize the duty-free arrangement.

“The EU imported 9,000 metric tons of tuna from the Solomon Islands last year, an EU spokeswoman confirmed to Undercurrent.

"The duty paid was 0% under the Everything But Arms unilateral measures that the EU has in force benefitting developing countries," she pointed out.”

Copyright @ 2020, Solomon Times on Line.

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