The Need for a Deep and Comprehensive EU-UK Future Relationship

The Need for a Deep and Comprehensive

EU-UK Future Relationship

The British Chamber of Commerce to the EU believes that the future EU-UK economic and trading relationship is of the highest priority amongst all aspects needing to be agreed in the aftermath of the UK’s withdrawal from the EU on 31 January 2020.

The economic relationship between the EU and the UK is worth 648 billion pounds. This has been developed over a period of 46 years, and should be accommodated in any transition to a new model. To this end the EU and the UK will need to set the rules on the overall governance of the future relationship as well as provisions aiming to ensure a level-playing field between the two markets.

Areas expected to be covered by the future EU-UK FTA would include: trade and investments, technical barriers to trade, intellectual property rights, regulatory cooperation, foreign, security & defence policy, transport and energy, law enforcement and judicial cooperation in criminal matters, services, data protection, sanitary and phytosanitary measures, and others.

Our members need certainty and predictability as far as possible, and given the new UK Government, we hope that the change in dynamics can drive progress on both sides. Therefore, when it comes to the EU-UK future relations the BritCham supports the comprehensive approach of the Political Declaration and strongly advocates for progress in all of these areas.

The British Chamber also calls for a comprehensive FTA that enables:

• As frictionless trade in goods between the UK and the EU as possible

• A comprehensive and developed framework for the EU-UK trade in services

• A clear and transparent mechanism for the mobility of labour across the EU-UK border

• As close as possible cooperation on transport and energy issues

• Unhindered continuity in data flows

• Legal certainty in judgements and dispute settlements

The British Chamber, given the significant impacts for the business community:

1. Asks that a negotiation process consults openly and transparently with all stakeholders, including the business community.

2. Understands that, given the likely scope of the future agreement, there must be a clear and transparent process post agreement for managing any change and resolving disputes.

3. Asks that while any divergence is likely to create frictions, recognition should be always given to the importance of the UK-EU relationship. It is vital that the UK remains an important and integrated partner on the European continent, and that a spirit of openness and flexibility should be maintained to seek the opportunity that results from this change.