Brexit – what you need to know

Following the agreement between the EU and UK on future trading relations, the Chamber network has summarised the Trade and Cooperation Agreement and highlighted those areas of the deal which are relevant to business.

The EU-UK Trade and Cooperation Agreement Analysis document will navigate businesses and provides a summary of the key points from the new Trade Deal. 

The new agreement ensures there are no tariffs or quotas on goods that qualify, however in order to qualify for tariff-free access, goods from Great Britain will need to meet Rules of Origin requirements. If you have any questions about this then we would encourage you to contact Chamber International.

The agreement does not cover trade in services and there remain some areas which still need to be finalised including data adequacy.

UK and EU businesses will still be able to tender for each other’s public sector procurement opportunities.

Lastly, the agreement provides for a review of trading terms between the EU and the UK every five years. It also provides for the procedure to be followed if a country joins the EU. As is standard in Free Trade Agreements, either the UK or EU can decide to terminate the agreement with 12 months’