Northern Ireland to become a major international hub for international trade in goods
Saule Voluckyte
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The Northern Ireland to become the major international trading hub in goods, if the new agreement on Protocol on Ireland and Northern Ireland is approved in the House of Commons this Saturday.
- - - - Jotted down directly from the speech ---
Protocol on Ireland and Northern Ireland is set out to achieve two objectives:
1. to be a legally operative agreement, which avoids hard border between Ireland and Northern Ireland, preserve the economy of Ireland and Northern Ireland and protect the integrity of the EU Single Market;
2. Northern Ireland remains in UK’s Customs Territory.
The following four elements were agreed to reach these two objectives:
1. Northern Ireland remains aligned to the set of the EU rules that relate to the free movement of goods. Notably, all applicable procedures relating to goods will take place at the point of entry into Northern Ireland and not across the Ireland. UK authorities will be in charge of applying the EU Customs Code in the Northern Ireland.
2. Customs duties. Northern Ireland will remain the UK’s customs territory and will benefit from future UK’s trade policy and Northern Ireland will remain an entry point into the EU’s Single Market. UK authorities can apply UK tariffs on goods coming from third countries, so long as, those goods entering Northern Ireland are not at risk entering the EU Single Market. For goods at risk entering the EU Single Market, UK authorities will apply EU tariffs.
3. VAT: to avoid distortion of competition and maintain the integrity of the EU Single Market and satisfy UK’s legitimate wishes. [No greater detail is given about the specifics.]
4. To ensure long-term democratic support for the application of UK relevant rules in Northern Ireland. Four years after the entry into force of the Protocol, the elected representatives of Northern Ireland will be able to decide by simple majority whether to continue applying relevant EU rules in Northern Ireland or not.
As jotted down from the European Commission’s speech earlier today, delivered by the Chief EU negotiator Michel Barnier. 17 October 2019.
The direct broadcast available: https://www.youtube.com/watch?v=s4sdVQSvGH8