Uk Post Brexit Trade Agreements
Update to show that the UK has in principle reached a trade agreement with the Customs Union for Southern Africa and the trade bloc of Mozambique. As of 31 October 2020[update], the United Kingdom had concluded 24 trade agreements with 53 countries, some using mutatis mutandis an approach mutatis mutandis to quickly emulate existing agreements between the EU and these countries, specifying only these small areas of differentiation (which has reduced some agreements to about 40 pages from the initial region of 1400). Among them are significant economies — by nominal GDP — such as South Korea, Switzerland, Israel and South Africa. The UK officially left the EU on 31 January 2020. Subsequently, the United Kingdom entered a transitional period that ends on 31 December 2021. During this period, the United Kingdom still has to turn away from the internal market and the customs union, a process that is arguably more laborious and complex than the initial withdrawal agreement. The next deadline of 31 December 2020 has the potential to have a much deeper impact on agriculture. Although the UK Government has continued to sign continuity agreements, they still account for a small portion of the UK`s total agricultural exports, but some important partners have yet to be signed. If the UK leaves the customs union and the internal market without a trade deal, the UK will trade with the EU and a number of other important partners with regard to WTO rules which, as we have already studied, will have a number of effects on agriculture. In the meantime, negotiations with Japan have progressed somewhat since the last analysis.
In an official announcement on 11 September, it was stated that the Comprehensive Economic Partnership Agreement between the United Kingdom and Japan had been the subject of an agreement in principle between the two countries. . The full text of the agreement has yet to be published, so the exact details of the concessions are not known at this time. However, given the timing of the negotiations, the agreement should be broadly similar to that between Japan and the EU. Uk exports to Japan continue to grow in 2019 to reach a total of $317 million. Japan granted the UK access to beef and lamb meat in early 2019, after a two-decade ban. The INTER agreement between the EU and Japan aims to reduce tariffs on beef from 38.5% to 9% over a 15-year period. Other important concessions of the EU-Japan agreement include improving access to pork, processed pork, cheese and alcoholic beverages, all of which are important opportunities for UK exporters in the future.
In the coming days and weeks, the AHDB will conduct an additional and more detailed analysis of the UK-Japan trade agreement. 125 The CPTPP is being ratified in Canada. The text of the agreement is available at www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/tpp-ptp/text-texte/toc-tdm.aspx?lang=eng. 38 HM “Regional Merchandise Trade Statistics,” June 7, 2018, p. 19, under assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/686571/RTS_Q4_2017.pdf. On this basis, EU trade agreements can continue to apply to the UK. The UK government is working on new deals that will replace EU trade deals after Brexit.