18 Dec 2020 Trade Agreement Continuity Gov.uk
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2. The government seeks to ensure the continuity of our existing trade agreements with the EU when we leave the European Union (see note 1). On this basis, EU trade agreements can continue to apply to the UK. The UK trade agreement with Switzerland contains elements of the EU-Switzerland MRA. Many of the other trade agreements are at an advanced stage and the UK government will sign more in the coming days and weeks. We will continue to update businesses and they should continue to plan a number of Brexit scenarios, including the possibility of leaving the European Union without a deal. This will ensure the continuity of trade agreements for British businesses. We have already concluded agreements with countries that account for more than a quarter of the BRITISH trade covered by these agreements. These include the signing of agreements with Switzerland, which are worth more than 20% of the value of these agreements, as well as Chile, the Faroe Islands, Eastern and Southern Africa, Israel and the Palestinian Authority. 3. Comprehensiveness: these statistics do not assess the value or impact of trade agreements themselves, but contextually provide the total value of the UK`s trade with the countries covered by these agreements. These statistics include the UK`s bilateral trade with partner countries, which cover all exports and imports of goods and services. The UK has left the EU, but its trade relations remain unchanged until the end of the year.

That`s because it`s in an 11-month transition – designed to give both sides some time to negotiate a new trade deal. The UK has signed a free trade agreement with Japan. The United Kingdom is seeking trade agreements with our major trading partners. Discussions are ongoing with Japan regarding a UK-Japan MRA. The United Kingdom and Japan have signed an exchange of letters to ensure the continuity of existing agreements as a temporary measure. Changes to the table “Trade Agreements outstanding”: “Percentage of total trade in the UK, 2018” has been updated following the publication of trade statistics from the Office for National Statistics. Some new agreements will not be in force until the UK leaves the EU. Trade will then take place under the terms of the World Trade Organization (WTO). 5. This means that we have already ensured the continuity of British trade to the amount of $109.4 billion.

This has increased by $40.9 billion since March. The Southern African Customs Union and the countries of Mozambique`s trade bloc have been added to the list of signed agreements. The United Kingdom is already negotiating with countries around the world and will continue to do so, whether or not we leave the European Union through an agreement. 6. Accuracy: The accuracy of the results depends on the accuracy of the data sources used.

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