UK to remain in European Common Transit Convention after Brexit

UK to remain in European Common Transit Convention after Brexit

The UK is set to remain part of the Common Transit Convention (CTC) after Brexit, limiting the friction on trade flowing across Europe.

The convention reduces the need for additional customs checks on goods passing through a country en route to their final destination.

The CTC covers the European Union, European Free Trade Association states Iceland, Norway, Liechtenstein and Switzerland, as well as Turkey, Macedonia and Serbia.

The UK has been invited to remain in the CTC even if there is a no-deal Brexit in March 2019.

British Financial Secretary to the Treasury Mel Stride said: "We are a great trading nation and our goods are in demand all over the world.

That's why we are committed to ensuring that trade can continue to flow with as little friction as possible when we leave the EU.

"Membership of the convention will support traders both under a new trade agreement with the EU, or in the unlikely event of no deal.

"This gives businesses the continuity and certainty they need to plan for the future."

The CTC means goods do not need to complete import and export declarations each time they cross a new border and traders only have to make customs declarations and pay import duties when they arrive at their final destination.

The UK Government hopes it will make border clearances easier at key ports and airports, such as Dover and Holyhead.

PA

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