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London CNN —Britain is finding out just how hard it can be to negotiate free trade deals, even with close allies and friends. Goods and services have continued flowing between the two countries under the terms of the EU-Canada free trade deal. But Britain had sought to negotiate a new trade deal with Canada that would improve upon the terms of the existing agreement. A key sticking point in the negotiations has been Britain’s refusal to relax a ban on hormone-treated beef, which at the moment effectively bars Canadian farmers from selling to British consumers. We remain open to restarting talks with Canada in the future,” a UK government spokesperson said in a statement.
Persons: King Charles, Britain, , Mary Ng, , David Henig, we’ll Organizations: London CNN, European Union, NATO, , Britain, EU . Goods, EU, Canada, Centre for International Political, CNN, Reuters, National Farmers ’ Union, BBC, Locations: Canada, United Kingdom, Britain, Brussels, , England, Wales, “ Canada
Here are some details of the agreement as Britain seeks post-Brexit trade wins in geographically distant but faster growing economies. HOW MUCH DOES BRITAIN TRADE WITH CPTPP? Britain says that exports to CPTPP countries were worth 60.5 billion pounds in the twelve months to end-Sept. 2022. David Henig, Director, the UK Trade Policy Project, said that only Malaysia and Brunei weren't covered by existing FTAs, and they only account for 0.33% of UK trade. GEOPOLITICAL FACTORSWhile the long-term benefit for Britain's economy is set to be modest, Britain has other reasons for joining the bloc.
It delivers “long-lasting solutions” that will work for the people and businesses of Northern Ireland, she added. It also allows the UK government to determine sales tax rates for businesses in Northern Ireland and gives the Northern Ireland government emergency powers to oppose new EU rules on some goods. A boost to BritainBeyond its importance to Northern Ireland, the deal eases the uncertainty Brexit created for Britain. The new Northern Ireland deal opens the door to closer UK-EU cooperation on financial services, energy, immigration and scientific research, according to experts. “You need to address the Protocol before you do anything else,” said Anna Jerzewska, the founder of international trade consultancy Trade & Borders.
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