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18 months after the UK left the EU, what’s next for UK-EU trade?

Find expert-led insight on how the UK can strengthen trade links with the EU, and support firms like yours with the cost of doing business.

05 Sep 2022, 2 min read

In the 18 months since the UK-EU Trade & Cooperation Agreement (TCA) at the beginning of 2021, UK businesses have worked hard to adapt and change their operations to the new relationship with the European Union.

As businesses are facing major spikes in the cost of doing business, the UK’s trading relationship, in particular with its most important trading partner, is a key component in the country’s mission to boost economic growth.

From the research and innovation budget from Horizon Europe to simplifying business travel – there are significant opportunities for a better economic relationship with the EU. But the lack of progress to resolve issues around the Northern Ireland (NI) Protocol has blocked the full potential of the UK-EU relationship so far.

A new CBI paper highlights that steps in the short, medium, and long-term will help protect the trading relationship in the years ahead – boosting economic growth and keeping costs down for your business and consumers.

Short-term

  • Agree lasting solutions for the operation of the NI Protocol
  • Secure association with Horizon Europe
  • Government should prioritise exports to the EU as businesses adjust to the post-TCA trading relationship.

Medium-term

  • Smooth out business travel issues, speed up visa processes, and establish mutual recognition agreements across professional services sectors
  • Continue the dialogue on Financial Services.

Long-term

  • Agree a bespoke veterinary agreement to reduce veterinary checks
  • Improve links between the UK and the EU Emissions Trading Systems to show leadership on climate change.