Trade Knowledge Exchange > Trade Partnerships > UK Partnerships with Non EU Countries

UK Partnerships with Non EU Countries

Around 55% of the UK’s merchandise exports go outside the EU.  The figure is higher for services: around 60-65%.  Once the UK leaves the EU, it is likely that it will be able to define its own trade policy vis a vis the rest of the world. So what are the issues?

At present, trade relationships between the UK and the rest of the world are managed through the EU’s common commercial policy. The policy has defined the UK’s trade regime vis a vis the rest of the world, through WTO commitments, through regional agreements conclude by the EU, and through unilateral preference schemes implemented by the EU.

On leaving the EU, the UK will exit the EU’s common commercial policy. It will then face a number of choices and challenges. In particular:

  • How will it finalise its position at the WTO by extricating its commitments for the EU, particularly in areas such as agriculture subsidies and tariff-rate quotas, and in aspects of services trade?
  • Should it continue to apply MFN tariffs it has inherited from the EU, or should it liberalise further? If so, should it do so unilaterally, on a non-discriminatory basis, or reciprocally, through free trade agreements?
  • On services, where the UK, like many others, applies significantly lower levels of restrictions than are reflected in its WTO commitments, similar questions apply.
  • What should the UK’s approach to trade preferences be?
  • How should it establish priorities given limits to institutional capacity

These issues are not solely the UK’s. The EU itself will need to finalise its new schedules of commitments at the WTO. More broadly, the EU will also need to define its approach to trade policy, and this without the input of one its strongest liberalising influences.

The articles in this section assess these issues from a variety of perspectives, and provide a starting point for developing a new template for the UK’s trade policy.

International trade in goods, Trade services, Professional services brexit, brexit professional services, brexit network, trade expertise, trade expertise network, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

Filter:

Knowledge

An interactive trade policy simulator for the UK

    The White Paper on future arrangements between the UK and the European Union (EU) proposes a free trade agreement (FTA) between both parties. It also sets out the UK’s objective of pursuing an independent trade policy. This includes signing FTAs with global trade partners. The United States, Australia and New Zealand are specifically mentioned. And […]

    Read more

    Commentary

    Positioning the UK in global trade policy

    International trade in goods, Trade services, Professional services brexit, brexit professional services, brexit network, trade expertise, trade expertise network, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

    What role can the UK carve out for itself in global trade policy after leaving the EU? It will be able to speak with an “independent” and “distinctive” voice, will relentlessly push the case for free trade and multilateralism, and will strive to ensure that everyone is able to access the benefits of trade. That, […]

    Read more

    Commentary

    The UK and China

    UK-China Trade: Eastern Promise? UK-China trade has featured highly on Theresa May’s visit to China. The Prime Minister hopes that by the end of her sojourn, a further £9 billion in commercial deals will have been secured between UK and Chinese businesses. Trade with China is a small but important part of the UK’s overall […]

    Read more

    Commentary

    Making Trade and Development a Priority for the Commonwealth

    Development Trade, Trade not Aid, International global value chains, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

    The Commonwealth Heads of Government Meeting (CHOGM 2015) in Malta on November 27-29 provides a unique opportunity for the new Liberal government to launch a comprehensive trade and development strategy as a defining feature in its commitment to re-engage in the world. Canada has proportionally more trade and development linkages with Commonwealth countries than any […]

    Read more

    Commentary

    Canada’s Progressive Trade Agenda Starts in Africa

    Authors: David Luke & Phil Rourke.   The arrival of President-elect Donald Trump threw the Liberal Government’s trade strategy off balance. The recent reshuffling of Cabinet and the now laser-like focus on the United States, Canada’s most important commercial relationship, confirmed the need for a reboot. The first casualty of the change in strategy is […]

    Read more