Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

UK and Switzerland to sign post-Brexit trade agreement

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/10/2019 | 07:44pm EST
FILE PHOTO: Britain's Secretary of State for International Trade Liam Fox arrives in Downing Street in London

LONDON (Reuters) - Britain and Switzerland will sign an agreement on Monday to continue trading on preferential terms after Brexit, the British trade department said, protecting a trade relationship worth 32 billion pounds.

The formal signing of the deal, on which agreement had previously been announced, is one of only handful of concrete steps Britain has made towards ensuring that all the trade deals it currently benefits from as an EU member will continue after it leaves the bloc next month.

"Not only will this help to support jobs throughout the UK but it will also be a solid foundation for us to build an even stronger trading relationship with Switzerland as we leave the EU,” International Trade minister Liam Fox said in a statement.

The deal reflects Switzerland's "mind the gap" strategy of ensuring seamless trade ties with Britain, regardless of whether London is able to strike and approve a formal exit agreement with Brussels by March 29, the date it is scheduled to leave.

Britain has reached an impasse in its last-minute renegotiation of an exit deal that it agreed with the EU last year but that was overwhelmingly rejected by the British parliament in January.

The government said last month it expects Britain will have most of the agreements it needs to replicate existing trade deals between the EU and third countries ready by the end of March.

A similar continuity agreement has been announced with Israel, and 'mutual recognition' deals have been agreed with Australia and New Zealand.

But the head of the Confederation of British Industry, Carolyn Fairbairn, said on Sunday the "unfolding nightmare" of Britain's exit meant that major trade partners like Japan and South Korea were reluctant to sign deals until they knew the exact shape of future EU-Britain ties.

"It will be the decisions that businesses take about jobs and investment - and they will reduce them - so you have less potential to trade globally, that will mean less investment in the future and that will mean fewer jobs in the future," she told Sky News.

(Reporting by William James; Editing by Frances Kerry)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
08:15aChina's Property Market, Once a Lifeline, Now Carries Economic Risks
DJ
08:09aRussian court orders Baring Vostok's Calvey to be kept in custody until April 13
RE
07:55aBaring Vostok's Calvey tells Russian court he will cooperate with investigation
RE
07:31aGOVERMEDIA PLUS CANADA CORP : . Announces Commercial Agreement With Swiss Blockchain Startup SonoCoin for Cryptocurrency Payment Transactions
AQ
05:27aEFTA EUROPEAN FREE TRADE ASSOCIATION : conducts 8th round of free trade discussions with Mercosur
PU
03:18aSouth African Airways to pay Comair $78 mln to settle competition case
RE
02:53aBank lending for 'real economy' key to boost China growth - central bank official
RE
02:48aWHAT'S NEWS : World-Wide
DJ
02:48aWHAT'S NEWS : Business & Finance -- WSJ
DJ
02:36aChina-U.S. trade talks 'making a final sprint' - state media
RE
Latest news "Economy & Forex"
Advertisement