Task force to study Brexit effects

Sunday, February 19, 2017

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TORTOLA, British Virgin Islands (CMC) — A task force has been established to look at the implications of Brexit and its impact on the British Virgin Islands (BVI).


Premier Dr Orlando Smith told journalists at a recent press conference that the task force will include government ministers as well as technocrats.


The British Government, which is hearing the concerns of the BVI and other British Overseas Territories, is expected to present those concerns during negotiations regarding Brexit.


"In preparation for follow-up discussions in the UK later this year, my Government will establish a Brexit task force that will prepare a White Paper on the implications of Brexit for the BVI, that will set out the risks and opportunities posed by Brexit," said Smith.


He noted that, during a "very productive"meeting recently held with members of the British Government, he highlighted some of the Brexit challenges and opportunities that may arise for the BVI.


He also voiced concern about the devaluation of the pound, as well as potential problems for the yachting sector.


Brexit is the process by which Britain is seeking to leave the European Union, which comprises 28 member states primarily located in the Europe Union.

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