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Caribbean rum producers have welcomed the signing of a trade agreement between the Caribbean Forum of ACP States (CARIFORUM) and the United Kingdom. The agreement, finalized in St. Lucia last week and set to take effect when the UK leaves the European Union, is designed to mirror the benefits provided to the Caribbean by the Economic Partnership Agreement signed between the Caribbean and the European Union.
Commenting on the signing of the agreement, Komal Samaroo, Chairman of the West Indies Rum and Spirits Producers Association (WIRSPA) and head of the Demerara Distillers Group in Guyana, said: “We are very pleased to see this agreement come to fruition, which is the result of a collaborative effort between both parties, Caribbean governments and the UK. The UK is a major export destination for our rum and we are delighted that this agreement will allow us to continue to have access to that market.”
“Our premium rum is the region’s main export and the largest export earner after minerals. The rum industry is also a key employment sector in the region. The trade continuity agreement will contain key provisions to protect rum from artificially lowering the value of the product by competing producers who benefit from government subsidies,” said Samaroo.
He added: “As we strive to compete in a competitive global market, we offer a value proposition based on authentic origin and provenance, and the rich diversity and rum tradition of the countries in our region. This agreement will help us maintain a level playing field.”
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