Yesterday, the 26th June, the government announced their commitment to making sure that they keep duty free access to the UK markets for 48 developing nations around the world. It is thought that this announcement made by the British Government help to support manufacturers and retailers in Britain. This commitment would make sure that trading could carry on effectively and profitably after Britain leave the European Union.
The Freight Transport Association, who works to represent the freight and logistics sector in the UK supports the commitment that has been made by the government, saying that they the agreements with the 48 developing countries should make sure that the price of a number of different household items, from textiles to tea, will stay at the same pricing level as they were pre-Brexit.
The FTA have been lobbying the government, expressing their view that tariffs needed to stay low on trade that takes place between the UK and emerging trading countries. The lobbying has been taking place since the results of the European referendum was announced. The new commitment has been taken as good news for UK businesses as well as being a victory, with the views of the freight and logistics sector being reflected in government action. The FTA have met with the representatives of the Department for International Trade a total of three times since the EU referendum took place. At these meetings, the FTA and the department explored the different priorities the logistics sector has.
The FTA have been a leader in the process to get the Government to commit to the low tariff rate that will be good news for the manufacturing and retail sector in the UK as well as the transport and logistics industry. The low tariffs will mean that the price of materials is kept low for retailers and manufacturers, which means that there is nothing to pass on to the end user or consumer