NEW REPORT: Towards a modern UK-EU trade relationship

Moving beyond the UK-EU Trade and Cooperation Agreement

A report by David Henig for Best for Britain

David is Director of the UK Trade Policy Project at the European Centre for International Political Economy (ECIPE) think-tank, and one of the UK’s leading authorities on trade policy.

UK-EU deal ‘Not fit for modern trade environment’

• New report highlights key weaknesses in Johnson deal
• Ten areas identified as needing priority attention
• Warning that rebuilding trade relations ‘Must start now’

A major new analysis of the EU-UK trade deal highlights ten areas that must be addressed urgently to deal with non-tariff trade barriers looming come January 1^st.

The report, written by trade expert David Henig and commissioned by the pro-internationalism campaign Best for Britain, warns that, although the Johnson deal is better than a WTO arrangement, it will still result in ‘considerably higher barriers’ to trade.

Henig identifies areas of concern ranging from regulatory challenges and data issues to membership of the Erasmus scheme and climate change.

The ten priority recommendations are:

1. Secure data adequacy and deepen provisions on digital trade
2. Establish regulatory dialogues, starting with financial services, as part of financial services equivalence
3. Develop new trade rules for modern challenges, such as climate change, animal welfare and antimicrobial resistance
4. Maintain membership of European standardisation bodies
5. Reach Mutual Recognition Agreements to address testing of industrial goods, and veterinary equivalence for food products
6. Explore membership of major European regulatory bodies on issues such as aircraft safety (EASA)
7. Expand cumulation of rules of origin for preferential tariffs either with Japan or PEM (Pan-Euro-Mediterranean) countries
8. Reconsider UK participation in Erasmus
9. Re-establish mutual recognition of professional qualifications
10. Cooperate in renewing the global trade system

Read the full report here.