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European companies setting up United Kingdom arms to continue trade post-Brexit

March 02, 2018 07:51·

Altmann warned that the construction industry may be one of the hardest hit industries if Britain leaves the customs union, with labour and material supplies from the EU essential for the construction industry.

IN breaking away from the EU's single market and customs union, International Trade Secretary Dr Liam Fox - a committed Brexiteer from the start - is determined that Britain's future is not driven by the past.

European owned groups already trading internationally often serve customers in the United Kingdom with their own staff, but had not necessarily established a permanent entity here due to the simple access provided by the single market and customs union rules. Widely disliked though never short of an opinion on Brexit, Blair believes Brussels should be doing the work to stop Britain leaving the union.

Talks with agricultural supplier nations such as Australia and New Zealand are continuing, trade diplomats said.

But EU leaders warned Britain can not expect to sever formal ties with its closest trading partner and still reap the same benefits.

His intervention in Brussels is an attempt to persuade European leaders that they can help avert Britain's departure.

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Speaking on RTE Radio One's The Today Show with Sean O'Rourke, Commissioner Hogan also discussed the ongoing Brexit negotiations with the UK Government and the EU's recently-published draft legal text summarising the agreement reached last December. The answer is simple - a customs union is a group of countries that have decided to make trade easier among them by dropping customs checks within the union and charging the same import duties on the group's external borders.

The proposal was offered as a fall-back option if London failed to come up with a better solution to avoid new customs checks between British-ruled Northern Ireland and European Union member Ireland, where some fear a "hard border" could upset the fragile peace.

The Institute of Directors, a British employers' group, said this month that a partial customs union could solve the impasse. Rules of origin requirements would be waived for them too. Stephen Martin, the director general of the Institute of Directors, said Labour had "widened the debate" and manufacturers would be particularly pleased that a customs union was staying on the table.

Any of the other 163 WTO members could object to Britain's services schedule if they felt it infringed their rights, but documentation in that area is seen as relatively straightforward because the 23-year-old document is not very restrictive.

But progress at a global level in breaking down those barriers has been slower than for trade in goods.

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