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MoneyU.K. Signs Post-Brexit Trade Continuity Deal With Switzerland

12:10  11 february  2019
12:10  11 february  2019 Source:   msn.com

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The Chancellor signed the UK - Swiss Direct Insurance Agreement in Davos, Switzerland . The insurance sectors of the UK and Switzerland are set to continue trading freely with one another The arrangement will provide continuity of the effects of the existing EU agreement with the US, once the

Brexit (/ˈbrɛksɪt/ or /ˈbrɛɡzɪt/), (Irish: Breatamach) a portmanteau of "British" and "exit", is the impending withdrawal of the United Kingdom ( UK ) from the European Union (EU).

U.K. Signs Post-Brexit Trade Continuity Deal With Switzerland © Bloomberg Novelty Swiss cow and cowbell fridge magnets hang on display inside a souvenir shop in Lugano, Switzerland, on Tuesday, Nov. 15, 2016. While the Swiss National Bank (SNB) admitted to interventions to weaken the franc following the Brexit referendum, it declined to comment after the U.S. election last week.

The U.K. reached an agreement with Switzerland that will allow it to continue trade without any additional tariffs after it leaves the European Union.

The deal means the nations can avoid having to trade under World Trade Organization terms, and eliminates duties on most goods traded between the U.K. and Switzerland, according to a statement Monday. The British automotive sector could avoid up to 8 million pounds ($10 million) a year in tariff charges under the agreement, it said.

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Labour MP's motion to delay Brexit defeated Labour MP's motion to delay Brexit defeated

As the US and UK prepare to negotiate post - Brexit trade , there are fears that food safety standards could plummet, leading to the appearance in the While the UK government has been cagey about the details of a possible deal , a source close to Fox reportedly told the Telegraph that the minister felt the

Britain and Switzerland will sign an agreement on Monday (11 February) to continue trading on preferential terms after Brexit , the British trade A similar continuity agreement has been announced with Israel, and ‘mutual recognition’ deals have been agreed with Australia and New Zealand.

U.K. Signs Post-Brexit Trade Continuity Deal With Switzerland © Getty

“Switzerland is one of the most valuable trading partners that we are seeking continuity for, accounting for more than 32 billion pounds worth of trade a year,” Trade Secretary Liam Fox said. “Not only will this help to support jobs throughout the U.K. but it will also be a solid foundation for us to build an even stronger trading relationship with Switzerland as we leave the EU.”

To contact the reporter on this story: Lucy Meakin in London at [email protected]

To contact the editors responsible for this story: Fergal O'Brien at [email protected], Keith Campbell, Steve Geimann

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Food chiefs warn Gove over Brexit 'crisis'.
Britain's food industry has threatened to suspend its co-operation with a swathe of government consultations until the "catastrophic impact of a no-deal Brexit" is resolved, bosses have warned the environment secretary, Michael Gove. Sky News has seen a letter to Mr Gove from the heads of more than 30 trade associations, in which they argue that their focus on mitigating the potential consequences of a hard Brexit means they have insufficient resources to address other policy issues.

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