Corporate DispatchPro
A great deal of expectation After years of hard-nosed negotiations, false starts and inconclusive talks, the post-Brexit deal announced by the UK and the EU on December 24th felt nothing short of a Christmas miracle. With one week until the end of the transition period, many were bracing themselves for a no-deal dawn on January 1st.
If news of the deal eased anxiety for millions of citizens, businesses, and public officials on both sides of the channel, little time has been spared for them to digest the broad framework governing the future relationship. We summarise ten major themes in the EU-UK Trade and Cooperation Agreement. GOODS Both sides wanted to avoid tariffs or quotas on goods, and this was successfully achieved allowing unlimited access across borders. Movement is also facilitated by unlimited road and air transport, although customs declarations and paperwork will make the process more cumbersome. The part of the agreement is underpinned by Rules of Origin requirements which means that goods need to satisfy a minimum threshold of derivation from the export country. Meat products, for example, must only come from animals born and raised in the countries covered by the pact. MARKET CONTROLS One of the EU’s priorities was to establish a so-called level playing field as insurance against aggressive competition by Britain in the single market. The regulations in this area cover themes such as 17
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