The Free Circulation of Goods is the next major step to be taken by the OECS in fulfillment of its commitment towards establishing the Economic Union as enshrined in the Revised Treaty of Basseterre. Free Circulation of Goods is likely to have a positive impact on intra-regional trade with the removal of all discriminatory border taxes and non-tariff barriers on goods moving directly between OECS Member States. Two categories of goods will be impacted:
- Goods from outside the OECS region, provided that they first meet the normal border formalities upon entering the Economic Union, and;
- Goods which are produced in the OECS
Accordingly, these goods will not be subjected to any further checks by Customs and Border regulatory agencies when traded within the region, except where a significant risk is identified.
For more, click to see the full issue of OECS Business Focus.