The CBI has updated its list of 10 immediate practical actions both sides can take to stabilise relations and strengthen cooperation. Ranging from business travel to goods travelling between Great Britain and Northern Ireland – and compiled in consultation with businesses of all sizes, shapes, and sectors.
On 28 April, the UK-EU Trade and Cooperation Agreement (TCA) was ratified by the European Parliament. Alongside the UK Parliament’s approval earlier this year, these legislative approvals provide the legal underpinnings for the next chapter in the UK-EU trading relationship.
This moment can – and must – draw a line under the political wrangling of the past five years in UK-EU relations. It allows for a turning point in the relationship, where common sense, dialogue and goodwill prevail. Above all the key objective is normalisation. In a normalised trading relationship, both sides can move forward in the spirit of partnership and pragmatism as two independent trading partners with a historic and valuable trading relationship worth nearly £700bn.
Taking these steps will help protect the trading relationship in the years ahead. After the punishing effects on our economies from COVID-19 and Brexit uncertainty, we cannot afford a trading relationship with our largest and nearest neigh