Division Preparing for Free Circulation of Goods

Details

Economy

Saturday, 03 March 2012 02:30

By caribarena news

Antigua St John's - The Trade Division held a national seminar on the free circulation of goods in the OECS Economic Union on February 15 and 16 at the City View Hotel.

A special session was held for public and private sector policy makers, followed by a second one for other stakeholders.
Antigua & Barbuda and other OECS countries ratified the Revised Treaty of Basseterre establishing the OECS Economic Union on January 21.

The Economic Union Treaty commits member states to establishing a Customs Union where goods entering a member state from outside the union will pay import duties based on a Common Customs Tariff, while goods traded within the union will circulate free of import duties and other restrictions.

Article 10 of the Protocol to the Revised Treaty deals with the issue of Free Circulation of Goods as follows:

“Goods imported from outside the Economic Union Area which are in free circulation in that area shall enjoy the privileges of goods produced within the Area."

The application of this protocol at the regional and national levels can pose a major challenge however. It is important that the implications of free circulation of goods in the OECS Economic Union be fully understood by everyone concerned with its introduction.

This is particularly important in respect of how goods are treated at the time of entry into the Economic Union, and how they are treated subsequently for free circulation within the single OECS economic space.

The seminars were sponsored by the Hub and Spokes Project, OECS Secretariat, and the European Union. Resource persons were Alan Paul, Lisa Louis Philip and Claude Paul.

Present were representatives from the various ministries, Port Authority, and Customs Division. Private sector shipping agents and brokers also participated in the seminar.

Common concerns were raised on the benefits of this agreement to Antigua & Barbuda. It was noted that three methods of revenue sharing have been considered - actual consumption, residential population, and fiscal population.

The proposed date for the free circulation regime to come on stream is June 1, 2013.

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