If you`re looking for information on the UK`s free trade agreements, you`ve come to the right place. As the UK exited the European Union, it has been working hard to establish new trade deals with countries around the world. Here is a list of UK free trade agreements to help you stay up-to-date.
1. Japan-UK Comprehensive Economic Partnership Agreement (CEPA)
The Japan-UK CEPA came into effect on January 1, 2021. It is the UK`s first major trade deal since leaving the EU. The deal reduces tariffs on a range of goods, including Japanese cars and sake. It also makes it easier for UK businesses to operate in Japan and vice versa.
2. UK-Turkey Free Trade Agreement
The UK-Turkey Free Trade Agreement was signed in December 2020 and came into effect on January 1, 2021. The agreement eliminates tariffs on a wide range of goods, including agriculture, automotive, and manufacturing. It is expected to provide a significant boost to trade and investment between the two countries.
3. UK-Canada Trade Continuity Agreement
The UK-Canada Trade Continuity Agreement came into effect on April 1, 2021. It replicates the terms of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) that the UK used to be a part of. The agreement eliminates tariffs on 98% of goods traded between the UK and Canada.
4. UK-Singapore Free Trade Agreement
The UK-Singapore Free Trade Agreement was signed in December 2020 and came into effect on January 1, 2021. The agreement removes tariffs on 84% of products traded between the two countries. It also helps to facilitate digital trade and e-commerce.
5. UK-Mexico Trade Continuity Agreement
The UK-Mexico Trade Continuity Agreement was signed in December 2020 and came into effect on January 1, 2021. The agreement maintains the same preferential trade terms that the UK enjoyed as part of the EU-Mexico Global Agreement. It eliminates tariffs on 99% of goods traded between the UK and Mexico.
6. UK-Norway, Iceland, and Liechtenstein Trade Agreement
The UK-Norway, Iceland, and Liechtenstein Trade Agreement was signed in April 2019 and came into effect on January 1, 2021. The agreement maintains the same preferential trade terms that the UK enjoyed as part of the European Economic Area (EEA) Agreement. It eliminates tariffs on most goods traded between the UK and Norway, Iceland, and Liechtenstein.
This list of UK free trade agreements is constantly evolving, so be sure to check back regularly for updates. With the UK actively seeking to establish new trade relationships, it is possible that more agreements will be added to this list in the near future.
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