A “pan-European [customs] area is something we could consider” as part of “reset” talks between the UK and the EU, the European Union’s new trade head in charge of post-Brexit negotiations told the news.
The concept of Britain joining the Pan-Euro-Mediterranean Convention (PEM) was mentioned by Maros Sefcovic.
These standard regulations permit the use of parts and ingredients for manufacturing supply chains in tariff-free trade from dozens of nations in and around Europe and North Africa.
According to Downing Street, the government’s “red lines” for its relationship with the EU would not be crossed by such an arrangement.
The UK government has started talking to companies about the advantages of the PEM plan, which may help reduce red tape .
