BCC: Trade agreement delays are disappointing

Commenting on the latest update to existing trade agreements if the UK leaves the EU without a deal, Dr Adam Marshall, Director General at the British Chambers of Commerce (BCC), said: “The lack of progress revealed today is an incredibly disappointing, though not unexpected admission. This is unfortunately yet another example where politicians have overpromised and underdelivered – and it is businesses and consumers both at home and abroad that will pay the price. “The British Chambers of Commerce has warned government for over two years that the replication of EU trade agreements would not be easy. We have also warned politicians that some trading businesses don’t even know they are benefiting from the provisions of these agreements, and will be surprised to see their costs going up or their products treated differently overseas in the unwanted event of ‘no deal’ on 29 March. “There are firms now who have shipped their products to important overseas markets like South Korea whose customers may now face higher costs and new administrative burdens and purchases languishing at the dock after 29 March. UK firms and their partners have spent time building strong business relationships and will not appreciate sudden and expensive changes in trading arrangements. “It’s time for government to work far more closely with business communities to ensure that more existing agreements are rolled over and their benefits to businesses and consumers preserved. The best way to do this in the first instance is to avoid a messy and disorderly exit from the EU on 29 March – which would see the terms of trade for some businesses worsen overnight.”

Ends

 

Related content

Chamber reaction to government announcement on house-building

By Head of Representation | 28 July 2023

Property sector explores new Bradford schemes

By Head of Representation | 27 July 2023

New Chamber leaders are ready to step up

By Chamber Marketing | 26 July 2023

Chamber welcomes Pavers application

By Head of Representation | 20 July 2023

BCC announces leaders to chair National Business Council work

By Head of Representation | 17 July 2023

International trade vital for UK growth

By Head of Representation | 14 July 2023