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The die has been cast: the UK has voted to leave the European Union in the June 23 Brexit referendum. By leaving the EU, the UK will, among many other things, no longer be part of the heart of the economic cooperation in the EU: the customs union.
In all scenarios customs formalities will thus become a part of the trade between the UK and the EU, which will inevitably affect trade considerably. The UK as a hub for distributing and selling goods in the EU will not be attractive anymore since customs formalities will hinder an efficient distribution in the EU. .
Forming a new customs relationship with the EU comes with several options for the UK, based on treaties and agreements that the European Union has established with other (groups of) countries, such as the EFTA, the treaties with Switzerland and Turkey, and the World Trade Organization.
Visit Maco Customs Service for an elaborate description of the various scenarios available for the UK.
Published: by SGS Maco Customs Service