BVI postpones trade mission to Africa to focus on financial services

The proposed BVI trade mission to Africa which was planned to be held in November, has been postponed until the beginning of the next year. BVI premier and minister of finance, Dr Orlando Smith, who will be leading the delegation, instead will work in this period towards supporting BVI financial services sector.

This decision was taken because of the EU assessment of international finance centres, during which the Code of Conduct Group within the EU ECOFIN Council decided in March 2018 that it would like to have more information from the BVI about its tax arrangements. Since that time, the BVI government has continued to engage with the EU officials to provide all the required information. Elise Donovan, BVI representative to the UK and the EU, has to to focus on the EU, and so she remains in the UK. At the same time, she will be a key figure in the African trade mission, this is one of the reasons why it needs to be postponed.

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