Bloomberg have published a succinct summary and analysis of the main terms of the Brexit deal.
Whilst the agreement ensures that trade won’t be subject to new tariffs or quotas there now exist new regulatory barriers that make it more costly and burdensome for the UK to trade with the EU.
With regards to business operations the main points are as follows:
- Both sides have agreed to uphold transparency with regards to their various standards and not undercut each other.
- Both sides pledge to limit customs red tape and will initiate ‘trusted trader programs’.
- With regards to data the deal allows for a temporary solution to keep data flowing between the UK and EU.
- There will no longer be automatic recognition of professional qualifications.
- With regards to business travel, visitors on shot term trips will not be required to hold work permits.
You can access the full article here.
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