The following agreements are still being discussed with countries with EU trade agreements. The UK is trying to replicate the effects of existing EU agreements at a time when they no longer apply to the UK. Although British Prime Minister Boris Johnson insists that an agreement must be reached by 15 October, no agreement has been reached. Compliance assessment is a set of processes that confirm that a product meets the legal requirements. This may include testing, inspections and certifications. The UK trade agreement with Switzerland contains elements of the EU-Switzerland MRA. The European Commission reports annually on the implementation of its main trade agreements in the previous calendar year. Trade with Japan represents only 2% of the UK`s total volume, so the government expects the agreement to contribute 0.07% of GDP in the long term. Modern EU free trade agreements want to do more than reduce tariffs. In addition, they aim to improve market access by removing non-tariff barriers (for example.
B, regulatory cooperation), liberalizing trade in services and opening markets to public procurement. These agreements go far beyond the scope of the WTO. These include competition rules, access to foreign direct investment and rules guaranteeing sustainability (employment and the environment). The EU is working to modernise previous agreements with Chile and Mexico, which contain only fundamental economic aspects. That is why a country could choose to impose tariffs on car imports, for example to protect local car manufacturers. The judgment of the European Court of Justice (ECJ) on the free trade agreement with Singapore in May 2017 clarified the areas of a free trade agreement under the exclusive competence of the EU and the elements that require ratification at Member State level. This important decision will clarify future negotiations for a free trade agreement. Before the ruling, all free trade agreements were always ratified by both the EU and the respective national parliaments of the Member States. Since the ruling, authorisation within the Member States is only required if certain parts of the agreement fall within the shared jurisdiction.
In Germany, for example, the Bundestag and, if necessary, the Federal Assembly as a whole would vote on the agreement. In May 2019, the ECJ also found that the newly designed investment judicial system, integrated into CETA, was compatible with European law. This question was ambiguous. If you experience trade problems during the transition period, please contact your local international trade advisor.