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(Picture credit Shutterstock)There are over 750 EU Free Trade and trade-related agreements. The UK currently operates under these, but it is not yet clear whether UK businesses will continue to benefit from them after Brexit.
EU FREE TRADE AGREEMENTS, WTO AND GATT LINKS
House of Commons explanation of WTO terms and how they will apply in a No Deal Brexit
No-deal Brexit and WTO: Article 24 explained
UK government update on doing business with Norway, Iceland and Liechtenstein (EEA EFTA States), and on doing business with Switzerland.
Norway’s views on the opportunities within the EEA
The EEA Agreement – or the Agreement on the European Economic Area, to give it its full name – forms the cornerstone of Norway’s relationship with the EU. In addition, there are more than 70 other agreements that help regulate the different aspects of our wide-ranging relations, including our association agreement with Schengen.
UK withdrawal from the EU – Norway’s initial assessment.
WTO is the abbreviation for the World Trade Organisation. Key documents relating to the WTO Agreement and the General Agreements on Tariffs and Trade can be found here
This detailed analysis from ‘Britain in a Changing Europe’ summarises ‘What would trading on WTO terms mean?
One key agreement on which the UK government is relying is the the WTO’s ‘Technical Barriers to Trade Agreement’. Detailed WTO guidance on its coverage can be found here
Mutual Recognition Agreements and Conformity Assessment Bodies can also be important when trading with certain countries. The EU currently has these in place with Australia, Canada, Israel, Japan, New Zealand, Switzerland and the USA. The aim is to provide easier access to conformity assessment. More details can be found here
Rules of origin for imported and exported goods are still under negotiation.
The International Trade Centre and the World Customs Organisation have launched a new facilitator to help businesses understand the global Rules of Origin and unlock free trade opportunities.
UK government guide to the Rules that establish the country of origin of imported and exported goods. It also helps identify those which qualify for lower or nil customs duty.
Detailed EU guidance on Rules of Origin.
WTO Tariff profiles 2020
These are the latest WTO Tariff Profiles.
Association of the British Pharmaceuticals Industry
Chemical Industries Association positions on Brexit
www.cia.org.uk/Policy-Areas/Brexit
The EU has many Free Trade Agreements which are summarised at
trade.ec.europa.eu/tradehelp/free-trade-agreements
The current status of all EU trade negotiations around the world is given at
ec.europa.eu/trade/policy/countries-and-regions/negotiations-and-agreements/
UK secures post-Brexit membership of WTO procurement pact
www.gov.uk/government/news/wto-agreement-secures-13-trillion-market-for-british-contractors
For exports to the EU it is possible that tariffs could be imposed on UK goods and services with or without a corresponding imposition of tariffs on imports
The article produced by Civitas provides an indication of the potential impact:
www.civitas.org.uk/content/files/potentialpostbrexittariffcostsforeuuktrade.pdf
