Industry leaders have said more work is needed to ‘normalise’ UK-EU trade relations following the European Parliament’s ratification of the post-Brexit trade agreement.
On 28 April, the European Parliament formally ratified the Trade and Co-operation Agreement (TCA) thereby ensuring tariff and quota-free trade between the EU and UK can continue. However, while welcoming the move, industry bodies made it abundantly clear further steps are required to address issues that have arisen since the UK’s EU departure in January.
Director General of the Confederation of British Industry (CBI), Tony Danker, described ratification as “a decisive step forward” but also said “it’s far from the end of the process for business”. Mr Danker added, “The next phase is normalising relations between the UK and EU.”
Hannah Essex, Co-Executive Director of the British Chambers of Commerce, also expressed relief that ratification had gone smoothly, but added, “It is now vital that both the UK and EU work together to alleviate the significant disruption and difficulty which many firms continue to report. The UK and the EU must now get back around the table and continue talks so they can build upon the arrangements set out in the TCA to deliver long-term improvements to the flow of trade between them.”
All details are correct at the time of writing (11 May 2021).