UK and EU agree draft deal to scrap Brexit red tape over food exports
Source: BBC ·
The food deal, ahead of a UK-EU summit later this month, is the most significant part of the so-called Brexit reset agreed so far.
From the source
The UK and EU have agreed a draft deal on removing post-Brexit checks from food and agriculture exports, ahead of the UK-EU summit later this month. The BBC understands the 200-page draft text for this so called "SPS" [sanitary and phytosanitary] agreement has been circulated to EU nations in Brussels for consideration at a meeting on Wednesday. Similar texts for deals on emissions trading and a youth travel and work scheme have also been circulated alongside a 15-page draft joint statement for UK and EU top leaders. The food deal is the most significant part of the so-called Brexit reset agreed so far, removing checks and red tape that hit exporters after the UK exited the EU's single market. The deal should remove the need for £200 Export Health Certificates, £25 Phytosanitary certificates, inspector fees, organic certificates, some port fees, sampling fees and other checks for exports and imports to and from the EU. The government claims the UK economy will eventually see £5.1bn…
BestAIBroker analysis
- Finance-aware sentiment: slightly positive (+0.30 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 33/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.