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Brexit Update

Brexit Update

by | Feb 12, 2020 | General News |

Now that the UK has officially left the EU albeit we are now in the Transition period where nothing much will change, it seems that the UK Government vision for Brexit is a UK which is completely independent from the EU, whereby the UK will no longer be aligned to EU rules.

This indicates that the UK will at the very best have a ‘Basic’ FTA with the EU. The Prime Minister Boris Johnson has stated that “There is no need for a free trade agreement to involve accepting EU rules,” and that he is seeking a ‘Canada Style’ Free Trade Agreement with the EU. Something we suggested would be the case over a year ago in an earlier blog. However, even a Canada Style FTA now sounds ambitious. If you would like details on the original blog please contact me.

Among individual countries, China is South Africa’s biggest trading partner, with imports and exports between the two nations totaling R263.9 billion in 2013.

It now appears that any trade deal with the EU will be subject to customs checks and for some goods border checks as well, there is now no guarantee that easements which were introduced as part of a cliff-edge Brexit will now be introduced such as TSP, zero temporary tariffs, and even VAT postponed accounting. The EU is now being talked about in the same vein as the USA and other Non-EU countries as being ‘the rest of the World’.

Added to this is the fact that the PM has said the Transition Period will not be extended beyond the end of 2020. Therefore it is very important that businesses start preparing for being ready which goes far deeper than just having your EORI number. Businesses that start planning now will ensure that they are ready for 2021. Hooper and Co will be hosting a number of Training workshops over the next few months these will cover ‘Getting ready for Brexit’, ‘Free Trade Agreements’, ‘Customs Procedures’ and ‘Origin of goods’, etc. If you are interested in attending one of these Workshops or finding out more please do not hesitate to contact me at david@hooperandco.com , there are discounts to existing Clients of Independent Freight and Hooper and Co.

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