United Kingdom Regional Trade Agreements

Updated to reflect ongoing trade negotiations with Turkey and Vietnam While free trade agreements aim to boost trade, too many cheap imports could threaten a country`s producers, which could have repercussions on employment. Trade agreements also aim to remove quotas – restrictions on the amount of goods that can be traded. While it was a member of the EU, the UK was automatically part of some forty trade agreements concluded by the EU with more than 70 countries. In 2018, these agreements accounted for around 11% of total UK trade. During the Brexit negotiations between the EU and the UK, some feared that no agreement would be reached on the withdrawal conditions and that the UK would hastily leave the EU without a deal (the initial no-deal Brexit scenario). Leaving the EU will allow the UK to become a global beacon of free trade and to conclude robust trade liberalisation agreements, both with developed countries (Australia, New Zealand, USA) and with developing and emerging countries (Brazil, China, India). (Paul Marshall, “Finally, We Can Accept Wealth Creation Activity,” Financial Times, March 29, 2017) The trade agreement between the UK and Israel includes conformity assessment of industrial products. This means that existing agreements with Israel will continue after December 31, 2020. Brexit: Uk trade `difficult if Irish border is not resolved` Find out about trade deals Britain has already signed and our discussions with countries with which the EU has a trade deal. Updated South Korean listing, as the UK has now signed a trade deal with South Korea. Any trade agreement aims to reduce tariffs and remove other barriers to trade that come into force. It will also aim to cover both goods and services.