The Faroe Islands have signed a Post Brexit Trade deal with the UK.
They are an island group consisting of 18 major islands (and a total of 779 islands, islets, and skerries) about 655 kilometres (407 mi) off the coast of Northern Europe, between the Norwegian Sea and the North Atlantic Ocean, about halfway between Iceland and Norway, the closest neighbours being the Northern Isles and the Outer Hebrides of Scotland.
The Faroese economy has experienced a period of significant growth since 2011, due to higher fish prices and increased salmon farming and catches in the pelagic fisheries. Fishing has been the main source of income for the Faroe Islands since the late 19th century,
A WINDOW FOR POST BREXIT TRADE
Following Brexit, the UK can strike its own deals for buying and selling goods and services around the world.
A Trade Agreement facilitates trade – usually in goods but sometimes in services too – by making it cheaper. This is often achieved by reducing or eliminating tariffs – charges for trading across borders.
While the UK was an EU member, it was automatically part of around 40 trade deals which the EU had struck with more than 70 countries. Post Brexit, however, there is a need for the UK to be able to access markets outside the EU that the UK has its own trade deals with.
Trade windows are required for this to happen effectively. This site is such a Trade window, and uses features as detailed below to facilitate this
Video Conferencing has now become an essential prop for Trade.
The Video Conferencing Programme featured on this site from Conferences.Center, will help enable business relationships, and plan projects.
Conferences.Center facilitates Video conferences, online meetings, and chat sessions. These play a significant role in providing and maintaining good communication which is very important for Trade.
This site is part of a wider Trade Networks Programme, which brings together Buyers, Manufacturers, Sellers, Supply Chain Finance Providers, and other players in relevant Supply chains. Buyers, can enjoy the benefits of accessing suppliers easily, wherever they are. Suppliers, can also access buyers, as part of a Blockchain Facilitated Programme.
The Coronavirus Pandemic means that the way business is done will never be the same again. However, it has thrown up new opportunities. Those who adapt fast and digitize their business, will be able to take advantage of these new opportunities. This site can help organizations take advantage of those new opportunities.
A range of Blockchain services can be accessed from this site. As far as Blockchain Adoption is concerned, it can be overwhelming for organizations to consider adopting a new process that also requires a steep learning curve of a new technology.
Users of this site can access simple entry points to utilize Blockchain for Trade, in a relatively simple and straightforward manner that requires no technical integration. A full training and support Programme is also available on request. Please contact us for more information.
All trade parties on the Blockchain can share data as they deem appropriate. Some Features of the Blockchain are detailed below.
Blockchain can eliminate the need for trust in transactions, thanks to the fact that it facilitates the use of transparent and immutable smart contracts.
Blockchain offers potential for easing and speeding up transactions between trading partners. Advantages include:
– Improving supply chain visibility and transparency
– Reduction of transaction costs
– Tracking of products moving through the supply chain
– Facilitating the sharing of information across the Supply Chain
Please contact us for more information on the above. Please also see links below that can help access useful information, as well as useful online services for Trade.