Brexit whitepaper provides massive relief to trade

In a massive boost to the freight and logistics industry, the government in the United Kingdon published an in-depth proposal titled “The future relationship between the United Kingdom and the European Union” for the future trade relations between the UK and Europe. Theresa May led government has said it will preserve the UK's and EU's frictionless trade to help each other's markets.

In a relief to the freight and logistics industry across Europe, the UK government has proposed a free trade. “Protect the uniquely integrated supply chains and ‘just-in-time’ processes that have developed across the UK and the EU over the last 40 years, and the jobs and livelihoods dependent on them, ensuring businesses on both sides can continue operating through their current value and supply chains” the proposal stated

United Kingdom Prime Minister believes pragmatism and compromise is a must for future trade relations. May said the approach would also help meet the share commitments to Nothern Ireland and Ireland. The government has drafted a plan as a common rulebook for goods, covering only those rules necessary to provide for frictionless trade. Similarly the participation of UK in those EU agencies that provide authorisations for goods in regulated sectors such as - European Chemicals Agency, the European Aviation Safety Agency, and the European Medicines Agency thus accepting the rules and sharing their costs under the new arrangement that will see the UK separated from the European Union.

A new Facilitated Customs Arrangement would be made to remove the need for customs checks and controls between the UK and the EU. This will enable the UK to have its tariffs for trade with the rest of the world. The new proposal now promises a bright foreseeable future for trade in the UK.

However, critics including United States of America President Donald Trump have slammed the proposal stating that it is a bad deal for Britain. Trump believes that the soft Brexit strategy will empower EU and let it determine the standards for food and goods, and a role of the European Court of Justice in interpreting rules in disputes. However, Theresa May and her government are confident that they will have a plan in place for UK's smooth departure from the European Union come March 29, 2019.