Latest EU report shows the majority of non-EU world trades with the EU without any ‘deal’
Yes its true 85% of goods sales to the EU come from countries with no deal. The news in 2020 will be dominated by UK trade talks with the EU, once the “Withdrawal Agreement” becomes an international treaty on 01 February 2020.
Despite the UK having voted to leave the European Union in June 2016, the EU Commission will not be ready to discuss ongoing trade until March next year. That’s three years and nine months of the EU refusing to start engaging in trade talks with the United Kingdom — its second-largest goods export market.
Here is a quick trade perspective at Christmas, to remember in 2020
72% of goods sales into the EU come from countries with no EU trade deal
This becomes 85% after excluding Norway, Switzerland, and Turkey
(These countries have close ties to the EU — Customs Union and/or Single Market)
The above are summary figures researched from the EU’s 2019 report on the implementation of EU free trade agreements.
Furthermore, the UK is the EU27’s 2nd-largest market for goods.
I suspect that no-one wants to read a detailed report on trade figures at Christmas. Regular readers will know that I have published many detailed and well-researched pieces on this subject this year.
Nevertheless, I thought a quick summary might be digestible. 85% of sales into the EU come from countries without either a trade deal or Single Market and Customs Union membership. This is according to the EU Commission in its trade report published in October.
When the EU is finally ready to discuss trade with the UK in March next year (2020), I sincerely hope that the UK negotiators will walk into the room with the right attitude.
[ Sources: EU Commission Trade Directorate | Eurostat — official EU statistics agency ]