The UK department for business, energy and industrial strategy (BEIS) recently released information and guidance for the retail sector to prepare for the end of the transition period of the United Kingdom’s exit from the European Union (EU). The period ends on December 31. For businesses and organisations in the retail sector, there will be new rules from January 1.
From 1 January, the process of importing and exporting goods between the United Kingdom and the EU will change and the former will apply a UK-specific tariff to imported goods.?This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until December 31.The UK department for business, energy and industrial strategy recently released information and guidance for the retail sector to prepare for the end of the transition period of the United Kingdom's exit from the European Union. The period ends on December 31. For businesses and organisations in the retail sector, there will be new rules from January 1.#
The UK generalised scheme of preferences (GSP) will continue to provide trade preferences to the same countries as the EU’s GSP from January 1. There will be three frameworks: least developed countries framework (LDCF), general framework and enhanced framework.
After December 31, EU trade agreements will not apply to the United Kingdom, which is seeking to reproduce the effects of existing EU agreements for when they no longer apply to it. This will ensure continuity of trading arrangements for UK businesses.
If the United Kingdom does not reproduce the effects of an existing EU agreement, trade with other World Trade Organisation (WTO) members will take place on WTO terms when EU trade agreements cease to apply to the United Kingdom, according to the guidance.
Rules relating to online activities in European Economic Area (EEA) countries may newly apply to UK online service providers who operate in the EEA from January 1. The e-Commerce Directive currently allows EEA online service providers to operate in any EEA country, while only following relevant rules in the country in which they are established. This framework will no longer apply to UK providers as the United Kingdom will have left the EEA.
Fibre2Fashion News Desk (DS)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
