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British retail industry in sync with govt on transition
26
Feb '18
The retail industry in the United Kingdom is in complete agreement with the government’s position on transition period post-Brexit. The transition period should be as long as it is required to “prepare and implement the new processes and new systems”, says the UK government’s published proposals on how it wants the transition period to work.

“We’re in complete agreement that the duration of the transition period should depend on the time it takes to prepare and implement the new trade and customs arrangements that will underpin the UK’s future relationship with the EU,” said Helen Dickinson OBE, chief executive of the British Retail Consortium (BRC), while responding to the report that sets out the UK’s position on a transition period immediately after Brexit.

“It will take time to make any changes to the way the UK trades with Europe and we’ve been absolutely clear on the importance of agreeing customs and border processes that allow goods to continue to move uninterrupted between the UK and European markets. Disruption of any kind to supply will curb availability and add cost for consumers,” Dickinson added.

However, the transition period is not expected to be longer than the planned two years. The period will commence once the UK leaves EU in March 2019. But, the EU wants the transition phase to end by December 31, 2020, to coincide with the end of its budget period.

Even post-Brexit, UK will abide by new EU laws, and it will need EU’s permission to sign trade deals. (RKS)

Fibre2Fashion News Desk – India


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