The British business sector is relieved. England– The EU reached a trade agreement After a long negotiation for a year
An agreement that was held for just one week Before the end of the Dec. 31 transition period, tariffs will not be imposed and no product quota will be imposed on each other. Including stability, travel and climate change
However, freight transport between the UK and the European Union (EU) is subject to customs and other processes. It is expected that the process of filling out various documents Will cause a delay in the beginning
The EU is Britain’s largest trading partner. This agreement will take effect from 1 Jan 2021, of course there will be steps. More to come And the fashion industry is one of many businesses that require forms of information. When sending products abroad
British Fashion and Textile Association Glad that the two sides were able to reach an agreement. And that the EU is the largest market for the British fashion and textile industry. This deal is likely to help build confidence in the fashion and textile industry. That the UK sells to the EU, 7,400 million pounds per year
Executive of the British Luxury Brand Association Pointed out that although this deal is not perfect But it was better than not agreeing. Everyone is more hopeful that the atmosphere next year will be better. After being able to reach a trade agreement And there is a COVID-19 vaccine
In addition to the agreement with the EU The UK has also negotiated more than 20 trade agreements with countries such as Canada, Switzerland, Israel, Singapore, Japan, South Korea and are in talks with the United States.
After COVID-19 Create a turbulence and cause an impact to the business sector. Britain and its 27 EU members do not want the economy to face further problems. The trade deal could mitigate the effects of Britain’s withdrawal from the EU. But economists have warned that Britain will continue to suffer the disadvantage of the withdrawal. Which began on January 1, 2020 and the transition period will end on December 31, 2020.
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