EU and International update

EU

From changes at the border to increased costs and paperwork to changes to the way businesses provide services, Brexit is adding an additional layer of complexity for firms across the UK. The CBI are continuing to hold the UK government and the EU to account in public and in private, communicating the challenges firms face, while working to find practical solutions that work within the parameters of the new agreement. The CBI are engaged with government on a weekly basis, through the Business Brexit Taskforce meeting as well as through a Brexit Heatmap. These channels of communication are enabling the CBI to take the key concerns of business to the top levels of government. Please continue to share your insight, so we can feed this in directly.  

The CBI are also voicing the concerns of members in public, highlighting the competing pressures businesses are managing. CBI President, Lord Bilimoria issued a press statement on firms ability to adjust in addition to a slot on the Westminster Hour. The CBI was also part of a joint statement with the leading business organisations following the Brexit taskforce a fortnight ago. And finally, CBI Wales Director, Ian Price, provided evidence to MPs on the Welsh Affairs Select Committee. 

As ever, the CBI will continue to support members. The CBI’s UK transition hub remains open to all businesses and will be kept up to date as and when new guidance and information it’s published. The CBI has also created more detailed guidance on how to adjust your business operations to comply with the new rules. The first articles are on: the impact on conformity testing and the UKCA and the changes to business travel. 

Rest of World 

There was big news on Monday, as the WTO officially selected Dr Ngozi Okonjo-Iweala to become its Director-General, with backing from the Biden administration. A momentous challenge lies ahead, as she begins work to build back trust in the system and address calls for WTO reforms. CBI is planning to bring business support to WTO reform this year through B7/G7 and we want your ideas on how we might break the deadlock. Please get in touch to share your views.

On trade agreements, the UK is powering ahead with its accession to the CPTPP. Having put in an official request to join on 1 February, DIT hopes to start negotiations later this year. The CPTPP signifies a strategic move by the UK to deepen access into the fast growth markets of the Asia Pacific & Americas. In terms of negotiations, it is a ready-made deal, and side letters will be the key tool for the UK to negotiate any exceptions. CBI is currently running a series of member engagements to feed into government and will also be submitting to the Lords Committee consultation on CPTPP. Please get in touch to contribute.  

Shifting the focus to India, Liz Truss made a visit to Delhi and agreed to the outline for the future Enhanced Trade Partnership. DIT hopes a PM visit later this year will launch formal talks which could result in a preferential agreement being signed.