UK eases post-Brexit controls on vehicles taking goods to the EU – Reuters (20 April)
- The government has removed requirements for trucks entering South East England with goods bound for the EU to have a special permit. The system was introduced from 1 January to prevent a standstill at ports had trucks arrived without the correct paperwork.
- The government claimed freight volumes between the UK and EU are now operating at normal levels, with a 46% increase in exports in February. However, British goods exported to the EU (excluding non-monetary gold and precious metals) were down 41.4% in January and only partially recovered in February, whilst imports were still 11.5% down.
European Parliament to vote on Brexit trade deal Tuesday – Politico (22 April)
- The European Parliament has added a debate and vote on the EU-UK Trade and Cooperation Agreement to its agenda for Tuesday 30 April 2021.
- The Agreement was voted in by the Parliament’s foreign affairs and trade committee last week, with the UK already ratifying the deal (which conditionally entered into force on December 31 2020).
- A new trade deal was signed in Belgrade on 19 April between the UK and Serbia. The deal is a close replica of the existing EU-Serbia Stabilisation and Association Agreement.
- Exports from the UK to Serbia include scientific instruments, pharmaceuticals, machinery and clothing.
- The deal is expected to come into effect within weeks.
UK “throwing kitchen sink” at making N Ireland Brexit deal work – FT (22 April)
- Trade groups have reported that Boris Johnson is “throwing the kitchen sink” at making the Northern Ireland trade deal work, despite increased tensions with Brussels. However, proposals for technological solutions are still causing problems, and the hospitality industry and medicines sector have warned imposing EU laws will be disruptive to their supply chains.
- Northern Ireland trade groups said that British officials have introduced bureaucratic solutions in areas such as steel, and using historical trading records.
UK to review bank rules as London looks for post-Brexit boost – Reuters (20 April)
- In an attempt to remain attractive post-Brexit, the Ministry of Finance has launched an independent review of banking capital and proprietary trading rules.
- This follows the US easing its own proprietary trading rules, against which the UK wants to remain competitive. The Bank of England as not commented on the review.
Dublin Port trade down 15% compared to last year – BBC (19 April)
- Dublin Port has reported a first quarter decrease of over 15% compared to the same period last year, which the port’s chief executive blamed on Brexit. Whilst the decrease of ferry freight from the UK to Ireland decreased by 29%, this was partially offset by an increase from France, Belgium and the Netherlands to Ireland of 26%.
- The COVID-19 pandemic has also been blamed for some of the decrease.