As the nation continues to adapt to the new relationship with the EU post-Brexit, Business Secretary, Kwasi Kwarteng, has issued new advice for checking your goods comply to trade tariff-free with the EU.
One of the important changes is Rules of Origin. Rules of Origin concerns where a product was manufactured and determines the ‘economic nationality’ of a good for international trade. Businesses need to know about them because the Trade and Cooperation Agreement (TCA) means they can trade with the EU without paying tariffs – but only if their product meets the relevant Rules of Origin.
To export tariff-free into the EU traders must check their goods meet the Rules of Origin requirements set out in the Trade and Cooperation Agreement and have the right documentation.
In the letter, Mr Kwarteng encourages business owners to check for details on how to claim preferential (zero) tarrifs and see the documentation they’ll need to complete, read the full guidance on meeting Rules of Origin when trading with the EU and check the TCA legal text to see which rules apply to their goods.
Mr Kwarteng goes on to say, “As Business Secretary, one of my main priorities is helping businesses understand how to adapt to our new Trade and Cooperation Agreement with the EU.
“We are taking steps to make the process of adjusting to the new environment as simple as possible and to help you make the most of new opportunities in 2021.“
Rules of Origin is one of the topics explained in the new on demand videos, which focus on priority topics for businesses. Business owners are also encouraged to use the Brexit Checker tool, which provides a personalised list of the most up to date actions that your business needs to take.
To view the letter in full, visit: