UK's Potential Accession to Pan-Euro-Mediterranean Convention (PEM)
The UK could potentially join a Europe-wide trading agreement known as the Pan-Euro-Mediterranean Convention (PEM) as part of Sir Keir Starmer's post-Brexit reset with the EU. This statement was made by Maros Sefcovic, the EU's top trade official, who led post-Brexit negotiations for the bloc.
The PEM allows for tariff-free trade of goods across Europe, as well as some North African and Levantine nations. Some business groups have backed the UK joining PEM as it would help maintain complex supply chains. However, the previous Conservative Government chose not to pursue it as part of a post-Brexit trade agreement.
Sefcovic stated that the idea of the UK joining PEM has not yet been "precisely formulated" and that the "ball is in the UK's court." The UK government has reportedly begun consulting with businesses on the benefits of the PEM plan and how it could help cut red tape and improve trade.
However, hours after Sefcovic's comments, a UK minister rejected the proposal. The Liberal Democrats criticized this decision, calling it an act of "economic negligence" and urging the government to reconsider.
Dr. Mike Galsworthy, chairman of the European Movement UK, also expressed support for the UK joining PEM, stating that it would ease trade barriers and benefit businesses. He also advocated for the UK to join the EU customs union, which would further facilitate trade with the EU.
The lack of a veterinary agreement after Brexit has been a major obstacle for UK food businesses hoping to export to the EU. Sefcovic also suggested reviewing the possibility of a full-scale veterinary agreement between the EU and UK.
Overall, the UK's potential accession to the PEM is a significant development in the post-Brexit trade landscape. While the UK government has not yet officially committed to joining PEM, the proposal has received support from various business groups and political figures.
7 Comments
KittyKat
We cannot let business interests dictate our country's future. The PEM is not in the best interest of the UK.
BuggaBoom
Why reject the opportunity for smoother trading relationships? The PEM could be a real boon for our economy.
Loubianka
The UK government needs to stop playing games with trade deals and focus on policies that actually benefit the citizens.
Eugene Alta
I completely agree with Dr. Galsworthy. Joining PEM and potentially the customs union makes perfect sense.
Loubianka
Consulting businesses is fine, but what about the voices of everyday citizens? Their opinions matter too!
Coccinella
Joining the PEM is just another way for the UK to lose its sovereignty. We need to prioritize our independence!
Comandante
Joining the PEM could potentially tie us to EU regulations, which is the opposite of what Brexit was about.