MOSCOW (UrduPoint News / Sputnik – 17th January, 2020) The economic implications of the United Kingdom‘s withdrawal from the European Union will be insignificant, Saint Vincent and the Grenadines Prime Minister Ralph Gonsalves told Sputnik, hinting that the two countries will be able to agree on a trade deal.
The United Kingdom is set to conclude a withdrawal agreement with the European Union by January 31, which will trigger a transition period in which the UK and EU must sign an all-encompassing trade deal by December 31.
“It isn’t significant [implications of Brexit on trade]… because what we’ve agreed on – we signed an EPA [economic partnership agreement] with the EU – and we simply do the same thing with Britain,” Gonsalves said.
Saint Vincent and the Grenadines was one of 14 Caribbean states that signed the EU-CARIFORUM EPA in October 2008. CARIFORUM nations exported 4.3 billion Euros ($4.78 billion) worth of goods to the EU in 2018, according to figures published by the European Commission.