Since the UK left the EU, the government has had the right to negotiate trade deals with other countries. This process is not straightforward, and the UK has yet to complete any major trade agreements. However, there has been some progress worth reporting, especially if you’re looking to export British food or drink products.
So, without further ado, let’s take a quick look at the current state of affairs.
What Trade Deals Has the UK Signed Since Brexit?
Since the advent of Brexit, the UK has signed trade deals or agreements in principle with 71 countries and one with the EU. However, the vast majority are simply “rollover” deals, meaning they are simply a continuation of the terms upon which trade was conducted when the UK was still part of the EU.
However, some new trade deals are now being negotiated and implemented, which offer UK businesses opportunities to trade on more favourable terms than before. These include a free trade deal with Australia and New Zealand.
Other preferential trade deals that differ from their original counterparts have been signed with the following countries since leaving the EU:
Talks have also begun with India, and the UK has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by the end of 2022.
What Other Progress Has Been Made with Regards to Exports and Imports with Major Trading Partners?
The question that has been on many people’s lips has been when will the UK government begin working on a trade deal with the United States, given that this is the UK’s largest single trading partner after the EU (16.6% of all UK trade).
The answer, it seems, is that informal talks have begun, but no formal negotiations will take place in the immediate future. However, some small deals have been agreed upon, including lifting a range of tariffs on goods such as whiskey and lifting the ban on British beef exports to America.
What Opportunities Are There for UK Businesses to Export Their Food and Drink Products?
In short, there are plenty of opportunities for UK-based brands and those overseas looking to import high-quality British produce. While many of the trade deals have remained the same in the short term, new “from-scratch” deals with countries such as Australia offer UK businesses the chance to grab a larger market share in countries that share the same language, culture, and values.
From our industry-leading food safety standards to the world-renowned reputation of our food and drink producers, there has never been a better time to export British food and drink products.
Partner with Leverbrook Export Today to Make the Most of These Opportunities
If you’re looking to take advantage of the UK’s new position on the world stage, then Leverbrook Export can help. We are a food and drink export company with over 50 years of experience in getting British products to markets all over the globe.
Whether you’re a British brand looking to expand your horizons, or you’re based overseas and looking to source top-quality British products, our team is on hand to help. We have a vast array of export services and an in-depth knowledge of the food and drink industry, so we can provide you with a hassle-free solution that meets your specific needs.
Get in touch with us today to find out more about how we can help you make the most of post-Brexit trade opportunities.