ASEAN-UK trade deals hold promise, amid bottlenecks

2017 ◽  
Keyword(s):  
Free Trade Agreements ◽  
Trade Agreements ◽  
Portfolio Investment ◽  
Medium Term ◽  
Content Type ◽  
Effective Implementation ◽  
The United Kingdom ◽  
The Uk ◽  
Trade Deals ◽  
The Eu

Subject UK post-Brexit trade with ASEAN. Significance The UK government is retooling trade policy ahead of the United Kingdom's departure from the EU in March 2019 after which it will regain its ability to negotiate trade deals. In April, UK international trade secretary Liam Fox confirmed that this would include seeking free trade agreements (FTAs) with ASEAN and its member states. Impacts ASEAN infrastructure and regulatory imbalances will stifle efficient trade growth in the medium term. Effective implementation of trade deals will require the United Kingdom to settle its post-Brexit WTO arrangements quickly. The May 16 ECJ ruling could make it easier for the European Commission to agree FTAs without portfolio investment provisions.

Brexit will be damaging for UK-EU services trade

2020 ◽  
Keyword(s):  
United Kingdom ◽  
Free Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
Services Trade ◽  
Content Type ◽  
Cross Border ◽  
The United Kingdom ◽  
Trade Deals ◽  
The Eu

Significance Even if it succeeds, this will have a greater disruptive impact on the trade in services than goods, because the EU’s single market enables greater cross-border services trade than is typical of other free trade agreements (FTAs). This is likely to cut the volume of EU-UK services trade, in which the United Kingdom currently enjoys a substantial surplus. Impacts The United Kingdom’s departure from the EU will diminish its appeal for multinationals over the next few years, at least. The new UK immigration system could result in staff shortages in low-skilled services sectors. The imperative of tackling COVID-19 will likely delay the conclusion of new trade deals with non-EU countries.

ASEAN-UK trade links will grow post-Brexit

2016 ◽  
Keyword(s):  
Content Type ◽  
Decision To Leave ◽  
Working Classes ◽  
The United Kingdom ◽  
Farm Produce ◽  
Asean Countries ◽  
The Uk ◽  
East Asian Economies ◽  
Trade Deals ◽  
The Eu

Subject Brexit's effect on ASEAN economies and outlook for ASEAN-UK trade ties. Significance The UK decision to leave the EU ('Brexit') is a "wake-up call" for ASEAN trade ministers to ensure economic deals benefit the "vulnerable" and "working classes", Indonesia's trade minister was reported as saying on July 3. Brexit will have little direct impact on South-east Asian economies, but short-term financial stresses could destabilise markets in some countries. In the longer term, the United Kingdom needs to develop new economic links with South-east Asia. Impacts Brexit will reinforce ASEAN's cautious approach to integration. Singapore (finance), Malaysia and Thailand (farm produce) are possible candidates for early post-Brexit UK trade deals. Other ASEAN countries are more export-focused and may thus be slower to make UK trade deals.

EU wants a post-Brexit level playing field

2018 ◽  
Keyword(s):  
United Kingdom ◽  
Level Playing Field ◽  
Environmental Standards ◽  
Content Type ◽  
Playing Field ◽  
The United Kingdom ◽  
Food Standards ◽  
The Uk ◽  
Trade Deals ◽  
The Eu

Subject Level playing field after Brexit. Significance Unless the United Kingdom remains a member of the single market, it will no longer automatically be subject to EU rules after Brexit. This has raised concerns in the EU that the United Kingdom could gain a competitive advantage by moving towards a ‘low tax, low regulation’ economic model, which could undermine the competitiveness of the EU and trigger a regulatory race to the bottom. Impacts Lower UK environmental standards could impose direct costs on EU consumers, for example through cross-border air pollution. London may be tempted to accept lower food standards in securing more favourable trade deals with non-EU countries. A no-deal Brexit would put the UK government under greater pressure to adopt a tougher stand vis-a-vis the EU and deregulate.

Brexit will affect EU and UK trade policy differently

2020 ◽  
Keyword(s):  
Trade Policy ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Rules Of Origin ◽  
Foreign Markets ◽  
Content Type ◽  
The United Kingdom ◽  
The Uk ◽  
The Impact ◽  
The Eu

Subject UK and EU trade policy. Significance The United Kingdom’s departure from the EU will affect both the EU’s economic importance and its ability to realise trade objectives. The impact of the rupture will be greater still for the United Kingdom, which has to develop a trade policy from scratch and reconstruct its trading relationships with scores of countries in addition to the EU. Impacts Rules of origin mean that some UK firms will lose access to foreign markets even where London has concluded a replacement trade agreement. EU and UK demand for imports from the rest of the world will be reduced by the economic impact of Brexit and COVID-19 disruption. Replacing EU trade agreements with third countries will take longer for the UK government because COVID-19 will take priority.

No backstop or no deal is Ireland’s Brexit dilemma

2019 ◽  
Keyword(s):  
United States ◽  
United Kingdom ◽  
Free Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
The United States ◽  
Content Type ◽  
The United Kingdom ◽  
Increasing Risk ◽  
The Eu

Significance Despite the increasing risk and the implications of a no-deal Brexit, Ireland and the EU remain united in support of the main issue preventing a Brexit deal, the backstop. Impacts A time-limited backstop is the most likely prospect for a Brexit deal compromise. Under a no-deal Brexit, Ireland would be under pressure to implement border checks and controls in order to protect EU rules. No deal would make it harder for the United Kingdom to negotiate free-trade agreements with the EU and the United States.

Brexit turmoil may dampen EU Euroscepticism

2016 ◽  
Keyword(s):  
Western Europe ◽  
Trade Agreements ◽  
Economic Recovery ◽  
Medium Term ◽  
Content Type ◽  
Public Response ◽  
The Public ◽  
Eu Policies ◽  
The Uk ◽  
The Eu

Subject Euroscepticism in Western Europe. Significance In the aftermath of the UK referendum to leave the EU ('Brexit'), attention is turning to Euroscepticism across the continent. A number of Eurosceptic parties have called for membership referenda in their countries, while the public response has been mixed. Impacts Governments seeking to address Euroscepticism are likely to increase pressure on the EU to reform. Economic recovery and a slowdown of migrant flows may benefit mainstream parties and reduce support for Eurosceptic movements. Unpopular EU policies may be put on hold in the short-to-medium term -- likely affecting trade agreements CETA and TTIP.

UK-EU trade negotiations to be contentious

2016 ◽  
Keyword(s):  
United Kingdom ◽  
Free Trade Area ◽  
Content Type ◽  
Trade Area ◽  
The United Kingdom ◽  
Beneficial Impact ◽  
The Uk ◽  
Trade Deals ◽  
The Impact ◽  
The Eu

Subject Outlook for UK-EU trade deals. Significance Following the 'Brexit' referendum, a statement from EU Trade Commissioner Cecilia Malmstrom that the United Kingdom must negotiate its EU exit before concluding a trade deal alters assessments of future trading conditions across the English Channel. Even if the United Kingdom were to retain access to the single market or negotiate a free trade area with the EU, UK-EU trade is likely to be governed solely by WTO rules for many years. Impacts Given the UK government's lack of trade negotiators, the private sector could shape the country's negotiating positions. For UK exporters with domestic suppliers, the impact of tariffs on EU shipments will be mitigated by the pound's depreciation. However, the beneficial impact of the latter is reduced for UK exporters that source from abroad.

EU-UK deal allows Cameron to campaign against Brexit

2016 ◽  
Keyword(s):  
United Kingdom ◽  
Prime Minister ◽  
Transition Period ◽  
David Cameron ◽  
Content Type ◽  
The United Kingdom ◽  
Eu Membership ◽  
Scottish Independence ◽  
The Uk ◽  
The Eu

Subject The package of reforms on a new EU-UK relationship. Significance The agreement between the United Kingdom and its EU partners sets the stage for the UK referendum on EU membership, which Prime Minister David Cameron has set for June 23. Cameron said he had negotiated new terms that would allow the United Kingdom to remain in the EU. Impacts The deal bolsters the campaign to remain in the EU, but the referendum outcome is still highly uncertain. The deal will only come into effect if the outcome is for remaining, forestalling a second referendum for better terms. If the outcome is for leaving, a new relationship with the EU would have to be negotiated during a two-year transition period. It would also probably lead to a second Scottish independence referendum and UK break-up.

UK agriculture will pursue new markets post-Brexit

2017 ◽  
Keyword(s):  
Wine Industry ◽  
Agricultural Policies ◽  
Content Type ◽  
The United Kingdom ◽  
Wine Experts ◽  
Food And Drink ◽  
Scottish Independence ◽  
The Uk ◽  
The Impact ◽  
The Eu

Subject The impact of Brexit on the UK agricultural and food and drink sectors. Significance Agriculture and the food and drink sector will be among those industries most affected by Prime Minister Theresa May’s decision to pursue a ‘hard’ Brexit. It is uncertain to what extent domestic agricultural policies will replace the support and funding mechanisms of the EU. The food and drink sector will have to adjust to the possibility of future tariffs. Impacts Scottish independence would hit the drink sector, with Scotch whisky alone accounting for almost one-quarter of UK food and drink exports. The burgeoning UK wine industry could be damaged if the informal knowledge transfer from French wine experts slows down. The United Kingdom and the EU will need to cooperate on the issue of access arrangements for fishing.

Complicated UK-WTO negotiations may hit growth

2016 ◽  
Keyword(s):  
United Kingdom ◽  
Trade Agreements ◽  
Negotiation Process ◽  
Economic Losses ◽  
Regional Trade ◽  
Content Type ◽  
The United Kingdom ◽  
Poor Understanding ◽  
Slow Progress ◽  
The Eu

Subject The United Kingdom's WTO status after Brexit. Significance The terms of the United Kingdom's WTO membership are linked to those of the EU. In order to continue benefiting from other members' concessions after Brexit, the United Kingdom will need to arrange its own membership and terms in a potentially lengthy and complicated negotiation process with all other WTO members. Impacts Upon Brexit, the United Kingdom will regain its full competence for concluding bilateral and regional trade agreements. The government's slow progress in recruiting experienced UK trade negotiators may put it at a disadvantage. Poor understanding of the complexity of WTO negotiations may mean that economic losses have been underestimated.

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