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The DIT has published updated guidance on the status of trading arrangements taking effect following the end of the Brexit transition period on 31 December 2020 (IP completion day). While engagement is ongoing, and the DIT has confirmed that it is not expecting replacement trade arrangements to be in place with all countries in scope, some new/contingency trade deals have been signed. The guidance is updated to make it clear how those agreements will operate on 1 January 2021. While some of the agreements are fully ratified, others will apply on a provisional basis. Some agreements are not expected to be operational from 1 January 2021, including agreements with Canada and Mexico. These arrangements are expected to take effect in early 2021. Other deals remain under discussion with a number of countries, with engagement continuing into 2021—some of these countries have limited coverage via mutual recognition agreements (eg US, Australia and New Zealand), and some (but not all) are members of the World Trade Organization (WTO). Further new and updated guidance may be issued as various discussions progress, so stakeholders and traders are advised to monitor this page for further updates on the status of these discussions before and after IP completion day.
• GOV.UK—Guidance: Existing UK trade agreements with non-EU countries
• GOV.UK—Guidance: Trading under WTO rules
For further detail, see: LNB News 23/12/2020 116.
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