The future of trade for the UK

International trade is of critical importance to the UK economy; approximately half of UK exports and imports are to and from the EU. Trade is an area of EU exclusive competence, meaning that the UK’s current trading relationships both inside and outside of the EU are largely managed through its membership of the EU.

The outlook for the UK’s negotiation of new trading relationships upon exit from the EU will largely depend upon the future model of UK-EU trade arrangements, thus it is important for businesses to start preparing for these changes.

This report will address the key issues that UK and EU policy makers and businesses will have to consider when shaping the UK’s future trading relationships with the EU
and the rest of the world. The key concepts that underpin the discussions on trade are complex.

Understanding the trade law environment should inform the planning that businesses will need to undertake, assist in making decisions, and feed into dialogue
and partnership between businesses, the CBI and other trade associations and Government.

It is essential that the new international legal arrangements between the UK and the EU, and the UK and the rest of the world, both properly reflect the
commercial interests of those with a stake in the UK economy, and unlock prosperity in societies across the UK. To achieve this, business and government must communicate effectively, and work together to ensure the UK’s future trading arrangements promote business, jobs and growth.