Actions to take ahead of January 31
SUMMARY: No changes expected during transition period. Check out BCC’s Business Brexit Checklist for information on possible longer-term changes.
During the transition period, employers would face ‘business-as-usual’ arrangements with respect to UK and EU regulations. All existing structures will continue to apply, including jurisdiction of the European Court of Justice.
The Political Declaration (PD) states that the UK and EU envisage ‘an ambitious trading relationship on goods on the basis of a Free Trade Agreement’ and would seek to establish deep regulatory and customs cooperation. The PD states that the UK and EU, while preserving regulatory autonomy, should promote regulatory approaches to remove unnecessary barriers to trade- including going beyond WTO agreements on technical barriers to trade and phytosanitary measures.
The PD states that the UK and EU would explore possible cooperation between UK authorities and EU agencies such as the European Medicines Agency, European Chemicals Agency, and European Aviation Safety Agency. They would agree regulatory provisions for services trade and establish a framework for voluntary regulatory cooperation.
On intellectual property, the PD states that the UK and EU should go beyond the standards of WTO TRIPs, and preserve high levels of protection. Protections for geographical indications will be negotiated.