What will the status of Trade Agreements be post Brexit?

The EU currently has trade agreements with around 70 partners.

These EU agreements are expected to no longer apply to the UK at the end of the transition period in the event of a deal or on Brexit day if there is no deal.

The Government aims to negotiate new deals with these countries to provide, as far as possible, continuity.

If there is an agreement with the EU, the UK will continue to be bound by the obligations of the EU’s trade agreements during the transition period.

The EU will notify the third countries that the UK is to be treated as if it were a Member State during the transition period for the purposes of these agreements (Article 129 of the draft Withdrawal Agreement). It will be for the third countries to decide whether to do so.

The Government has provided an update on the current signed agreements at gov.uk.

Signed Agreements

Agreements have already been signed (or have been agreed in principle) with the countries listed below:

·        Chile

·        Faroe Islands

·        ESA (Eastern and Southern African states - Madagascar, Mauritius, Seychelles and Zimbabwe. Madagascar has agreed in principle and is expected to sign shortly).

·        Switzerland

·        Israel

·        Palestinian Authority

·        Fiji and Papua New Guinea

·        Cariforum (Antigua and Barbuda, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Trinidad and Tobago

According to the Government, the other members of Cariforum (Bahamas and Suriname) have approved the agreement in principle and are expected to sign shortly.

·        Iceland and Norway

·        Andean countries (Colombia, Peru, Ecuador)

·        South Korea (agreement reached in principle)

·        Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama)

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Claire Snowdon – Snowdon Consulting & I-CAN Global

NB: Excerpts taken from the House of Commons Library