As the United Kingdom prepares to leave the European Union, many industries and businesses are concerned about the potential impact on trade. One way the UK government is seeking to mitigate this impact is through trade continuity agreements.
Trade continuity agreements are bilateral agreements negotiated between the UK and other countries to ensure that trade between them will not be disrupted after Brexit. These agreements aim to replicate the benefits of existing trade agreements between the UK and its trading partners under EU membership.
The UK government has been working to secure these agreements with countries around the world, including Canada, Chile, and Switzerland. The agreements cover a range of sectors, including trade in goods, services, and investment.
One important aspect of these agreements is trade in goods. The UK government has sought to ensure that products traded between the UK and its trading partners will continue to be subject to low or zero tariffs. This is important for businesses that rely on imports and exports, as tariffs can increase the cost of goods and make them less competitive in the global market.
Trade continuity agreements also cover trade in services, which is a crucial part of the UK economy. These agreements seek to maintain market access and regulatory cooperation between the UK and its trading partners. This is important for businesses that provide services such as finance, legal, and consulting services.
Finally, trade continuity agreements cover investment. The agreements aim to provide certainty for businesses that invest in the UK and its trading partners. They seek to maintain existing investment protections and ensure that businesses can continue to invest in each other`s markets with confidence.
In conclusion, trade continuity agreements are an important part of the UK government`s strategy to mitigate the impact of Brexit on trade. These agreements aim to ensure that businesses can continue to trade with their partners around the world with minimal disruption. By securing these agreements, the UK government is helping to provide certainty and stability for businesses in the uncertain post-Brexit environment.
