Uk Switzerland Continuity Agreement

The OBC welcomes the signing of the continuity agreement between the UK government and Switzerland. This agreement is part of the Government`s strategy to put the UK at the heart of a network of modern free trade agreements with dynamic economies and strengthen our status as a global services hub. In December 2018, the government announced that an agreement had been reached with Switzerland on the transition between the UK and Switzerland during the transition period planned for the VA, re-enacting „as much as possible” the existing agreements. It would also allow the replication of the majority of agreements if the UK left the EU without a deal. It seems that the UK has been able to get a fairly complete replication for roll-over agreements. However, bilateral negotiations cannot help if the problems are trilateral. Therefore, the new agreements cannot guarantee 100% business continuity for the UK after Brexit. Ultimately, the degree of alignment with the EU that the UK achieves (or admits) will affect not only trade with the EU, but also trade with some FTA partners. Trade between Britain and countries and regions covered by EU free trade agreements accounts for around 14% of all UK merchandise imports and exports per year, which were worth up to £117 billion in 2017. The agreement simplifies trade and allows companies to continue trading freely and without additional tariffs.

It continues to abolish customs duties on the vast majority of goods traded between Great Britain and Switzerland. Ministers are working to ensure the continuity of some forty EU free trade agreements The „continuity” agreement – based on the existing free trade agreement between the EU and Switzerland – was concluded in December, but ratified on Monday. The initial agreement has a duration of two years to ensure continuity immediately after the transition period. It will help lay the foundations for a better trading relationship between Switzerland and the UK in Switzerland in the future. Watch our animated video Grandfathering the EU`s Free Trade Agreements, which explains why going beyond these agreements is likely to be very complicated and will inevitably have an impact on trade. Initially, there was less information on the government`s preparations to replace or address agreements covered by the EU`s many international agreements on non-trade issues. It is assumed that Norway`s agreement, which has yet to be published, only concerns goods, given that it has separate agreements with the EU on goods and services. It will probably lead to the elimination of customs duties, but it should face the same challenges as mutual recognition as Switzerland. A services agreement, if ever concluded, will have nothing to offer on tariffs (which do not apply to trade in services) and will leave little room for regulatory convergence due to Norway`s participation in the EU`s internal market.

On 21 February, the Ministry of International Trade published a list showing the status of negotiations on replacement agreements. He confirmed that the agreements between Japan and Turkey would not be ignored for the day of withdrawal, but said the commitment to other agreements would continue. . . .