(2) After 31 December 2020, an agreement should be concluded before the entry into force of this Agreement. If you have any business issues during the transition period, please contact your local International Sales Advisor. Trade agreements also aim to remove quotas – restrictions on the amount of goods that can be traded. Whatever the outcome of the negotiations on the future relationship between the UK and the EU, whether the transitional period ends without an agreement BETWEEN the EU and the UK or with an agreement covering only a few parts of the current trade relationship, it is likely that at the end of the transitional period there will be immediate changes in the trade and investment rules between the UK and the EU. Kenya has been added to the list of countries where trade agreements have been signed and the East African Community (EAC) has been removed from the list of countries where trade agreements are still under discussion. 1) Source of trade statistics: ONS UK Total trade: all countries, not seasonally adjusted from April to June 2020. Links to the documents of the agreement for Côte d`Ivoire and Ukraine. After 31 December 2020, EU trade agreements will no longer apply to the UK. In the absence of an agreement with the EU, trade preferences between the UK and the EU would disappear and trade between the UK and the EU would be determined by each party`s international obligations. The following agreements are still under discussion with countries that have already concluded trade agreements with the EU. The Withdrawal Agreement means that EU rules will continue to apply to the UK until then. Some new agreements will not enter into force until the UK leaves the EU. Trade is then done on the terms of the World Trade Organization (WTO).
The UK government is also conducting trade negotiations with countries that currently do not have EU trade agreements, such as the US, Australia and New Zealand. No new trade agreement can start before the transition is complete. Updated to reflect the Agreement in Principle of the Trade Continuity Agreement between the United Kingdom and Canada. The Canadian government will continue to pay particular attention to trade negotiations between the United Kingdom and the EU during the transition period and will monitor the effects this may have had on Canada`s trade with the United Kingdom.