EU trade chief: Bloc may consider UK joining pan-Europe customs area
Published On Jan 22, 2025, 7:01 PM
The EU's new trade chief, Maros Sefcovic, expressed openness to discussing the UK's potential inclusion in a pan-European customs area, known as the Pan-Euro-Mediterranean Convention (PEM). This proposal could facilitate tariff-free trade among multiple countries and help the UK re-integrate into complex supply chains affected by customs barriers since Brexit. The UK government is reportedly consulting businesses regarding the benefits of this arrangement. Additionally, discussions around a full-scale veterinary agreement to ease food trade and the upcoming expiration of the EU-UK fisheries deal were raised, highlighting the evolving relationship between the UK and the EU.
Stock Forecasts
AI prediction results, not representative of any investment advice.