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UK-EU trade after Brexit: 10 new business priorities for what happens next

The CBI has updated its list of 10 immediate practical actions both sides can take to stabilise relations and strengthen cooperation. Ranging from business travel to goods travelling between Great Britain and Northern Ireland – and compiled in consultation with businesses of all sizes, shapes, and sectors.

27 Oct 2021, 2 min read

On 28 April, the UK-EU Trade and Cooperation Agreement (TCA) was ratified by the European Parliament. Alongside the UK Parliament’s approval earlier this year, these legislative approvals provide the legal underpinnings for the next chapter in the UK-EU trading relationship.

This moment can – and must – draw a line under the political wrangling of the past five years in UK-EU relations. It allows for a turning point in the relationship, where common sense, dialogue and goodwill prevail. Above all the key objective is normalisation. In a normalised trading relationship, both sides can move forward in the spirit of partnership and pragmatism as two independent trading partners with a historic and valuable trading relationship worth nearly £700bn.

Taking these steps will help protect the trading relationship in the years ahead. After the punishing effects on our economies from COVID-19 and Brexit uncertainty, we cannot afford a trading relationship with our largest and nearest neighbour that is not fit for purpose. Our economic recovery, improving levels of business investment and tackling the biggest challenges of our generation depend on it.

The summary of recommendations include:

Urgent

  • Agree Lasting Solutions for the Operation of the NI Protocol
  • Work bilaterally with Member States to smooth out business travel issues and speed up visa processes, critical to the UK services sectors
  • Support supply chains on the cumulative burden as businesses enter the Christmas period
  • Agree a bespoke veterinary agreement to reduce SPS checks
  • Review the Shortage Occupation List to deal with the current labour market situation

Important

  • Use the TCA’s governance structures to meaningfully engage with business on the implementation of the agreement
  • Secure the recognition of Professional Qualifications
  • Approve UK application to the Lugano Convention
  • Continue the dialogue on Financial Services

Emerging

  • Advance linkage between the UK and EU ETS schemes ahead of COP26

Download the new 10 business priorities for UK-EU Trade