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LONDON: Britain on Monday (December 28) urged businesses to prepare for Brexit, just days before the end of a transition period designed to smooth the UK’s exit from the European Union.
Britain and the EU struck a trade deal on Thursday, one that preserves tariff-free and zero-quota access to the bloc’s single market, but one that will still cause disruption.
The transition period, under which Britain remained aligned with EU trade and regulatory rules, ends at 2300 GMT on December 31 (January 1, 7am Singapore time).
“The deal is done, but big changes come with a challenge and an opportunity,” Cabinet Office Minister Michael Gove said in a statement, adding that companies must adapt to Britain’s exit from the market. Unique and the EU Customs Union.
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“There are practical and procedural changes that businesses and citizens need to prepare for, and the time to make these final preparations is very short.”
The transition period was initially agreed to keep existing trade ties unchanged for 21 months after the original planned Brexit date of March 29, 2019.
But the period was not extended after Brexit was delayed until January 31, 2020 and, with more than 1,000 pages of the trade deal published in its entirety on Saturday, companies have less than a week to adjust to the new rules. .
Britain had urged companies to prepare for the end of the transition period before the end of trade negotiations, saying that many of the changes they needed to make would apply regardless of the outcome of the talks.
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The government said companies need to understand the new rules on the import and export of goods between the EU and Britain, and the different rules that apply to trade with Northern Ireland.
Businesses will also need to make customs declarations on EU trade, while carriers need a permit to go to Kent County ports or risk a fine.
