Image Source : Euronews
The UK is open to exploring the possibility of joining the EU-Med trade pact, a move that could significantly boost trade relations with European and North African countries. According to the Chancellor, the UK is “happy” to consider this option, which would allow for tariff-free trade of certain goods across the region. This arrangement is separate from the EU customs union, providing the UK with an alternative avenue for strengthening its trade ties with Europe and North Africa.
The EU-Med trade pact offers a framework for cooperation and trade facilitation among its member states, promoting economic growth and development in the region. By joining this pact, the UK could gain greater access to European and North African markets, increasing trade volumes and creating new opportunities for businesses. This development comes as the UK continues to navigate its post-Brexit trade relationships, seeking to establish new partnerships and agreements that will drive economic growth and prosperity.
In related news, UK Prime Minister Sir Keir Starmer recently met with German Chancellor Olaf Scholz to discuss a new cooperation agreement between the two countries, aimed at boosting trade, creating jobs, and delivering economic growth.¹ This move highlights the UK’s ongoing efforts to strengthen its trade relationships with European partners, and its potential interest in joining the EU-Med trade pact could be seen as a further step in this direction.
