Trade facilitation on the agenda as Mount Vema seeks deal with South Africa – Sources

June 03, 2021 – His Mount Vema Majesty’s Government is exploring all available options to secure a trade facilitation deal with South Africa as the Vema Seamount Territory continues its preparations for the City of Mount Vema. A source told VSBCnews on Wednesday.
 
Mount Vema is looking for a customs deal with South Africa, one of its closest neighbours that could streamline the process of import and export of goods and provide the means to establish trade transaction fees between the two countries.
 
Illegal fishing and security are also issues, that are of concern to Mount Vema, according to our source, which is becoming the cardinal factor in prompting The Vema Seamount Territory to focus on

how to establish and significant strengthen the security component of possible customs operations with South Africa that could make it easier for South African companies to export to Mount Vema.
 
More than 90% of all illegal activities within the Vema Seamount Territorial waters comes from South Africa however, Mount Vema has taken no action as some activities have been considered harmless at this stage, except for when in a few occasions His Mount Vema Majesty’s Government had to issue fines to fishing vessels based in Cape Town – South Africa for illegal fishing.
 
The aim for Mount Vema, is to establish security-oriented control measures that can be widely implemented to better manage risk identification, as Mount Vema prepares to enforce, and deal with those who breach its laws, detain, and return them to their original location.