European Shipowners Welcome Last-minute Brexit Trade Deal
WMN..Following the last-minute deal reached between the United Kingdom and the European Union, the European shipping industry has applauded the Brexit deal that would support the current trade fluidity.
On 1 January 2021, the UK will leave the EU Single Market and Customs Union, as well as all EU policies and international agreements. The free movement of persons, goods, services and capital between the UK and the EU will end.
After extensive negotiations, the European Commission reached on 24 December “the Trade and Cooperation Agreement” with the United Kingdom on the terms of its future cooperation with the European Union. The outline agreement consists of three main pillars — a Free Trade Agreement; a new framework for law enforcement and judicial cooperations in criminal and civil law matters; and a horizontal agreement of governance.
The European shipping industry has been urging policymakers on both sides to avoid a no-deal scenario at all costs. EU-UK supply chains are deeply inter-related with shipping at the very centre.
On 1 January 2021, the UK will leave the EU Single Market and Customs Union, as well as all EU policies and international agreements. The free movement of persons, goods, services and capital between the UK and the EU will end.
After extensive negotiations, the European Commission reached on 24 December “the Trade and Cooperation Agreement” with the United Kingdom on the terms of its future cooperation with the European Union. The outline agreement consists of three main pillars — a Free Trade Agreement; a new framework for law enforcement and judicial cooperations in criminal and civil law matters; and a horizontal agreement of governance.
The European shipping industry has been urging policymakers on both sides to avoid a no-deal scenario at all costs. EU-UK supply chains are deeply inter-related with shipping at the very centre.
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