Why Belgium WON'T be able to sink British trade deal with EU like they tried to with CETA
And it will be in the interests of both parties to ensure an effective agreement is expedited in order that jobs are protected in the bloc.
The primary reason for the delay in Canada’s trade agreement was largely down to its size as it accounted for just 1.7 per cent of the EU’s trade and therefore was not a priority.
However Britain accounts for 17 per cent of EU exports meaning hundreds of thousands of jobs could be on the line in the 27 member states if a deal can’t be struck.
It was effectively concerns by the Wallonian farming industry that saw Canadian agricultural exports as a threat which delayed the agreement being ratified.
Now senior House of Commons researcher Christopher Howarth says grandstanders who stood in the way of Canada trade deal will not affect trade post Brexit due to Britain’s importation of agricultural produce.
And he says the simple fact that Britain is already in “100 per cent regulatory conformity” with the EU due to existing models means that trade tariffs will be respected.
He explains: “The UK and EU are already in 100 per cent regulatory conformity and both parties have removed 100 per cent of their respective trade tariffs.
“Whereas the EU and Canada had to discuss the removal of all manner of trade impediments.
“The EU/UK trade talks will have none to discuss, unless for some hereto unknown reason the EU or UK wish to reverse history and recreate trade tariffs and barriers.”
There is also good news for negotiations on the triggering of Article 50, says Mr Howarth.
He asserts that both Britain and the EU can work together to achieve a trade agreement ahead of the UK’s official exit therefore maintaining a level of stability that would not impact jobs at home or abroad.
And he adds that all this can be achieved in just two years meaning that it could be as early as 2018 when an exit deal is finally struck.
He said: “There is another legal mechanism open to the EU and UK under which to negotiate – Article 50.
“Article 50 is the much talked about exit route, it can be stretched out to two years and encompasses the main areas of the UK’s withdrawal.
“As it is probable that the UK will wish to negotiate both its technical exit from the EU and its new trade agreement concurrently, then both agreements could in law or in practice become agreements decided by majority voting.
“Either way the UK/EU agreement will be unique, it will be the EU’s most important third party agreement and will of necessity be concluded quickly.
“The UK will leave the EU and as the head of the World Trade Organisation Roberto Azevedo has said will not face a trade ‘vacuum or a disruption’.”