From 1 January 2021, the UK will have sole responsibility for its seas and fishing industry and we need to be ready for change. As such, the UK Merchant Marine Organisation (MMO) issued a guide for commercial fishers, merchants and exporters with the steps they must take to ensure their business continues to prosper.
UK will be comfortable with ending the talks on a free-trade deal with the EU, if they do not produce a result before an upcoming EU summit scheduled for October 15, UK Prime Minister Boris Johnson is set to announce Monday.
Authorities in Calais are pressing the French government to establish a duty-free zone for British shoppers that would cover the entire port town in northern France, in case a future trade deal between the UK and the EU returns to trade tariffs.
The Department of Transport announced the sixteen ports in England that will receive a multimillion-pound funding pot to boost their preparations for Brexit. The £10 million Port Infrastructure Resilience and Connectivity (PIRC) competition offers up to £1 million to each port.
Doug Bannister, the Chief Executive Officer of the Port of Dover stated that the port, through which a sixth of the U.K.’s trade in products is being transferred, will be able to deal with any disturbance experienced by a no-deal Brexit, accounting for predictions of chaos.
UK Prime Minister Boris Johnson was pressured from the UK Parliament to publish the ‘Yellohammer contingency plan’ which presents the projected impact of a no-deal Brexit on the British economy and transport system.
A new report is calling on the UK Government to grant special economic status to airports and seaports, in order to stimulate international investment, reshore manufacturing and ultimately lower prices for consumers in a post-Brexit Britain.
UNCTAD issued a study concerning the alleged no-deal Brexit, highlighting that the UK as a member of the EU, participates in approximately 40 agreements along with market access to about 70 countries, which may stop having access to after the no-deal Brexit. The UNCTAD research notes that if these agreements are not concluded by exit day, it would cost the U.K. economy almost $2 billion in exports.
iContainers stated that there are two extra factors in 2019, that could cause “further disrupt” and throw a wrench in the day-to-day management of the shipping peak season. Namely, the ocean freight industry has recently been operating under a cloud of uncertainty due to Brexit and the unpredictable US-China trade war.
Economic growth around the world is decreasing, and various governments, including Germany, China and South Korea, have announced stimulus packages to boost their economies. In fact, the International Monetary Fund expects global GDP growth to slow from 3.6% in 2018 to 3.3% in 2019, before returning to 3.6% in 2020.
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