Post-Brexit Trade Continuity Agreement signed between Fiji, PNG and Britain

A trade continuity agreement has been signed between Fiji and Papua New Guinea and Britain after they leave the European Union.

The news has been welcomed by businesses including Tate & Lyle Sugars and Fiji Sugar Corporation.

The agreement allows businesses to trade as freely as they do now, without any additional barriers or tariffs.

It eliminates all tariffs on all goods imported from Fiji and Papua New Guinea into the UK and will gradually remove around 80% of tariffs on British exports to these countries.

In 2017 total trade between the UK and the Pacific region was worth around $891 million.

In an announcement, the British government confirmed that it would retain tariffs on some products in a no deal scenario, including raw cane sugar and some types of fish, to protect livelihoods in developing countries.

The Pacific islands deal is part of the UK’s pledge to support developing nations and use trade to reduce poverty, but it also comes as ministers rush to sign deals with about 70 countries the UK trades with under EU free trade agreements, which are due to end in two weeks’ time.

Fiji Sugar Corporation CEO, Graham Clark says the UK is a very important market for Fiji sugar exports, and strong historical trade links have been forged over time, built on Fiji’s market access to the UK.