Uk and Central America Sign Continuity Agreement

On November 23rd, the United Kingdom and five Central American countries signed a trade continuity agreement, securing their current trading terms ahead of Brexit. The agreement will maintain the same conditions that were previously in place with the European Union, providing reassurance to businesses that rely on these trade links.

The countries involved in the agreement are Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. Together, they have a combined population of around 49 million people and a total GDP of $388 billion, making them an important trading partner for the UK.

Under the agreement, the UK will maintain the same level of access to Central American markets as it had under the EU trade deal. This includes duty-free trade on many goods, as well as protections for UK businesses operating in the region.

For Central American exporters, the continuity agreement will ensure that their goods continue to enjoy preferential treatment in the UK market. This will help to maintain the flow of trade between the two regions, which is worth around £1.5 billion annually.

The agreement is a crucial step towards securing the UK`s post-Brexit trading relationships. As the UK prepares to leave the EU, it is important to establish continuity agreements with key trading partners to avoid disruptions to trade.

The UK has already signed continuity agreements with a number of other countries, including Canada, Chile, and Switzerland. These agreements will help to ensure that many of the current trade relationships between the UK and its partners will continue uninterrupted once Brexit takes effect.

Overall, the continuity agreement with Central America represents a positive development for businesses in both regions. By maintaining current trading terms, it will provide stability and certainty in an uncertain time. It also demonstrates the UK`s commitment to maintaining strong trade links with important partners around the world.