As a union member of Europe, the UK took part in around 40 trade agreements which the union has more than 70 countries. Based on the issue of no-deal Brexit on 29th March, if UK leaves the EU, it will immediately lose these deals. In the last year, the UK government informed that it wanted to reproduce the trade agreements of EU “as far as possible” and make them prepare for going urgently in the event of a no-deal Brexit.
As a part of EU, the UK cannot be able to execute its own deals on trade. The negotiations of trade are instead controlled by the EU on behalf of its members. The extant arrangements are outlined to make to easier between the Eu and the rest of the world. This could add, reducing tariffs on imports and exports, modifying certain rules or granting easier market access.
The government evaluates that about 11% trade of UK depends on the agreements of EU with other countries. International trade Minister George Hollingbery told the Commons: “There are no deals yet that have been actually signed. ” However, the minister included that he was self-reliant “the majority of those will be in place by 29 March ”. In December, the department for International Trade disclosed that it had sanctioned a trade agreement with Switzerland – although it has not been registered officially. At the moment more than 100 agreements have been conducted between Switzerland and EU. These cover the regions such as taxation on agriculture and savings.
The government told Swiss positioning will duplicate these extant proceedings, “ as far as possible” and allow “businesses to continue trading freely”.