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by pltm
(PLTM) - The Territory's leader, Premier and Finance Minister, Hon. Dr. Orlando Smith along with other Overseas Territories (OTs) leaders just concluded several rounds of meetings with the United Kingdom (UK) government, including meeting with the new Minister for the Overseas Territories, Baroness Anelay.
On Friday, November 4, 2016, Premier Smith gave an update on the outcome via his Facebook page, where he said he was pleased with the tone of the UK, noting that he foresees a rigid partnership between the UK and OTs in a post-Brexit future.
"As President of the United Kingdom Overseas Territories Association (UKOTA) Political Council, I have been very encouraged by the meetings we have held with the UK government this week at the Joint Ministerial Council (JMC) in London. I am also encouraged by the positive tone of my discussions as Premier with the new Minister for the Overseas Territories, Baroness Anelay," the Premier said.
The meetings were focused on several areas including European Union negotiations, anti-corruption, infrastructure, economic development, international trade and child safeguarding, among other topics.
In his post, Premier Smith did not mention whether the UK had any discussions with the BVI over the pressure for Beneficial Ownership. The UK has repeatedly requested automatic publishing, in full, lists of beneficial ownership of companies [who own offshore firms].
Days before the meetings in London, Premier Smith was in Hong Kong and while speaking at the 2016 Business BVI Asia Annual Regional Conference, he said the BVI’s position remains the same when it comes to public registries.
" ...We are committed to supporting the development of a global regulatory framework that is fit for purpose. However, I want to reassure you that we respect the need that many BVI clients have for privacy. The debate on beneficial ownership and our part within that is a clear demonstration of our approach," he said.
"We have noted the calls for public registers of beneficial ownership and we have said no to public registries."
Premier Smith said that the BVI's belief is that its own systems are strong and work well.
Meanwhile, Premier Smith said on Friday that collectively, the leaders of the OTs had asked for high-level engagement with the UK government on Brexit negotiations within the framework of a structured dialogue on an ongoing basis.
"I am pleased with the responsiveness of the Minister and her colleagues to our call and that we have agreed to reconvene the JMC in early 2017. This will be a special meeting on EU negotiations ahead of UK government plans to trigger Article 50, which will begin the formal process of leaving the EU," he said.
"This JMC was the most important meeting since the publication four years ago of the UK government White Paper, entitled the Overseas Territories, Security, Success and Sustainability. "
Premier Smith stated that it set out a vision for a new relationship between the UK and the OTs through which they would tackle their challenges together.
"We reflected this week on how the Overseas Territories and the UK have since performed as partners and discussed how we can realise the fullness of our relationship as initially envisaged."
Further, Premier Smith indicated that at the JMC, "I also had the opportunity to meet Rt. Hon. Boris Johnson MP, Secretary of State for the Foreign and Commonwealth Office, with whom I expressed BVI’s desire for a strong and balanced partnership with the UK."
Premier Smith said, "I am confident following all of these conversations, that we have strengthened the Overseas Territories-UK relationship and can make our partnership one fit for a post-Brexit future."
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