The Free Trade Area Agreement: New Rules After Brexit
Recently a meeting was held between Turkey and the UK, during which the parties signed an agreement on a free trade zone between the countries. This document is a guarantee of economic partnership, and opens up opportunities for British and Turkish companies to do business.
The clauses of the agreement apply to all kinds of agricultural and industrial products. The need to conclude such documents arose after Britain withdrew from the European Union. Now the kingdom needs to re-establish cooperation with various countries under new laws. Before Brexit, Turkey carried out economic activities with European countries, including the UK, according to the rules and regulations concluded between Brussels and Ankara.
On January 1, 2021, the kingdom completed its exit from the EU, the Brexit process took a total of 11 months, during which London worked to change the legal framework, rebuilding all markets in accordance with independent activities. While during the transition period the same norms and rules worked for the UK as in the European Union, from the beginning of this year London began to live under its own laws. The exit procedure was quite difficult for both states, but the pessimistic forecasts did not come true, and Britain was able to maintain a strong economy and avoid a crisis. For a long time, London and Brussels could not agree on a number of issues, including trade. Literally in December 2020 the representatives managed to find a solution, and all the necessary documents were signed. According to the signed document, there is a free trade zone between the kingdom and the EU, which applies to goods exempt from quotas and additional tariffs. In the worst-case scenario, it was assumed that trade would be conducted under the rules of the World Trade Organization. This meant that products would have been subject to duties, and given that about 50% of products in Britain are imported from Europe, prices in the kingdom could have risen significantly. However, such an outcome was avoided, although not without difficulties. Now between London and Brussels there are various types of controls, including sanitary, customs and others. In addition, additional rules apply to different countries, which in some cases leads to delays in cargo clearance.
Leaving the EU gave Britain the right to make its own decisions regarding the imposition of sanctions or the response to the situation in different states. As for ordinary citizens, the rules have become stricter for them, with controls at the borders and restrictions on their stay in the EU. For employment in the UK or the EU, it is necessary to apply for a special visa.
