What could a UK/EU trade relationship look like post-Brexit?
New AHDB report looks at five potential options for UK's trading relationship with the EU post-Brexit.
The nature of the future relationship that the UK government will seek to negotiate with the rest of the EU has not yet been defined, following the 23 June referendum decision to leave. It is expected that negotiations will commence once the UK gives formal notice to leave the EU under Article 50 of the Lisbon Treaty, which is not expected before a new Prime Minister is chosen. Negotiations will take place over a two-year period, which may be extended by agreement of all 27 remaining EU Member States.
Until the moment the UK leaves the EU it remains a full Member State of the Union and therefore bound by all Treaty obligations, legislation and policy.
Nearly two thirds (62% by value) of UK agricultural exports are to the EU, with 70% by value of agricultural imports from the EU. 90% of beef and lamb exports go to the EU. Therefore, the future trading relationship is of critical importance to agriculture and, particularly, to the Pork sector. Although the future relationship won’t be clear for some time, there are some existing models we can learn from. AHDB has published anew document setting out five potential trade relationship options post-Brexit and exploring the pros and cons of each. It is the first of a series of analyses from AHDB looking at the implications of the EU exit.
Stephen Howarth, Market Specialist Manager
Stephen.email@example.com, 024 7647 8856