Home / Knowledge / News / Textiles / BRC supports UK's Brexit negotiation backstop proposal
BRC supports UK's Brexit negotiation backstop proposal
15
Jun '18
The British Retail Consortium (BRC) has come out in support of the United Kingdom’s backstop proposals in Brexit talks, saying the substance of the proposal appears to achieve the BRC’s objectives of tariff-free, as frictionless trade as possible, with no new North-South or East-West regulatory or customs barriers, or upfront import value-added tax (VAT) costs.

The British proposal is for the whole of the United Kingdom to remain in the customs union for a limited period after the end of the transition period so that it would leave the European Union (EU) in March 2019 and the single market in December 2020, but stay in the customs union for longer.

The idea is to apply a temporary customs arrangement between the United Kingdom and the EU that would allow the former to sign free trade deals with other countries, but not implement the parts of them relating to tariffs. The backstop will be in place until the future customs arrangement comes into force, probably at the end of December 2021.

“This is positive progress, but there is much more work to do particularly on regulatory issues affecting border controls. Consumers and businesses need more certainty around what the final deal will look like in order to support investment and spending,” BRC policy adviser, Europe and International, William Bain said in a statement.

Fibre2Fashion News Desk – India


Must ReadView All

China keen to invest in Bangla apparel, leather sectors

Apparel/Garments | On 21st Nov 2018

China keen to invest in Bangla apparel, leather sectors

Chinese investors expressed keen interest to invest in apparel,...

Armenia to resume cotton production

Textiles | On 21st Nov 2018

Armenia to resume cotton production

Armenia will soon resume cotton production with the establishment of...

Australia wool production to dip 10.8% in 2018-19

Textiles | On 21st Nov 2018

Australia wool production to dip 10.8% in 2018-19

The Australian Wool Production Forecasting Committee has updated its...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search