Summary
Following the UK's departure from the EU, the negotiation of a future trade agreement is vital, particularly for the highly integrated chemical industry, which had a bilateral trade of �46 billion in 2018. The agreement should ensure frictionless trade and regulatory alignment to maintain the industry's supply chains and economic benefits. Key issues highlighted include the need for tariff-free trade, flexible rules of origin, consistent regulatory frameworks (REACH), and other chemicals management agreements. Cooperation agreements, harmonised customs procedures, and free movement of skilled personnel are also crucial.
Key Takeaways:
- Trade in chemicals should remain tariff-free with flexible rules of origin to support complex supply chains.
- Regulatory consistency under REACH and other chemicals management issues must be prioritised to minimise business disruptions.
- Harmonisation of customs’ procedures and maintaining the free movement of skilled labour is essential for the industry’s operational efficiency.
