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            october 18, 2019

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Indiaexportnews.com

No Brexit-related trade, customs changes until 2021

  18.10.2018    

Greencarrier Freight Services believes that until the start of 2021 there will "most likely" be no Brexit-related trade and customs changes. However, it is still urging companies to be well prepared for any new trade agreement between the UK and the European Union given the potential economic impact on their business, according to Shipping Gazette.
The freight forwarder said in a blog post containing advice for companies on how to prepare for shipping their goods in the UK and Europe post-Brexit that the most likely outcome of the ongoing trade discussions "is that all goods in and out of the UK will be followed by a customs procedure. In the long run, you will probably see a trade agreement."
The company that has all the permits and bonded warehouses in place and is ready for shipping said that "while the plan for the UK is to leave EU on March 30 2019, there will most likely be a 21-month transition period in which the new rules can be put in place and companies can prepare for changes. This is why you shouldn't expect a final trade agreement before January 1 2021."
The forwarder continued: "When the transition period ends the EU and UK are expected to have a free trade agreement but since negotiations are ongoing, nothing is final yet. In other words, until 2021 there will most likely be no Brexit-related trade and customs changes that will impact your company."
It noted that if the UK leaves the European Union on March 30 2019 most of the legal effects of Brexit will apply as of January 1, 2021, after the 21-month transition period.
In the event that there is no agreement, there will be no transition period and EU law will no longer apply to and in the UK as of March 30 2019 and customs procedures will be affected immediately.



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