Information on Brexit
On 12th April 2019, the United Kingdom is set to leave the European Union (EU) as the result of the referendum held in June 2016. While there are still last minute negotiations on-going between the two parties regarding terms of the separation, referred to commonly as Brexit, it is possible that no deal will be reached, implying a “hard Brexit” scenario.
What does “hard Brexit” mean to you and your business?
Such departure from the EU will mean that the UK will no longer be subject to trade agreements between the EU and foreign countries and that trade between the UK and those countries will be subject to general rules of the World Trade Organisation, in case there are no other bilateral trade agreements in place. This will have impact on duties or tariffs, customs and many other procedures related with moving goods between the UK and other markets and will therefore also impact the transport and logistics sector.
Whether you are located in the United Kingdom or elsewhere, if your business relies on transportation of goods to or from the UK, after 29th March you might be impacted by two scenarios:
- Trade between the United Kingdom and countries of the European Union will no longer be treated as taking place within the same economic or customs area and will instead follow the same rules and regulations that apply for trade between the UK and any other third nation. Effectively, this will imply customs clearance and related documentation, application of duties and tariffs or more complex formalities compared to the trade between the countries within the EU.
- Trade between the United Kingdom and third countries with which the EU has special trade agreements will no longer be subject to those agreements after 29th March. This will mean less favourable terms for trading with these countries: higher duties, different or more complex procedures, etc.
One particularly important case to consider are situations when your goods have been expedited BEFORE the Brexit date (29th March), but are scheduled to arrive at their destination AFTER the UK has already left the EU. In such cases, they will be subject to new “post-Brexit” conditions upon arrival, which might differ significantly from the “pre-Brexit” terms and conditions.
– follow the information published regularly by the UK government on their dedicated page and stay informed on all the changes and additional requirements resulting from Brexit.
Any question – Brunoni will help you
O. Brunoni S.A. has the knowledge and the flexibility to quickly react to changing situations. We know how important a well-functioning transport-chain is for our customers – and feel personally responsible for it.
O. Brunoni S.A. as agents of first-class shipping line companies connects Britain with the world with direct services and convenient transhipment options in major ports around the world. Moving your cargo efficiently to and from the UK remains our priority at Brunoni. The current Brexit reality may cause uncertainties, but our dedicated customer service colleagues are at your disposal and ready to help you with any question or issues you may have.