This week, a written Written Ministerial Statement (WMS) on the status of transitioning existing EU Free Trade Agreements.

The Department of Business, Energy and Industrial Strategy (BEIS) has written to the British Furniture Confederation – of which BFM is a leading member – to draw attention to a Department of International Trade (DIT) Written Ministerial Statement (WMS) on the status of transitioning existing EU Free Trade Agreements. The link to the WMS is here and trade agreements here.

To date, agreements have been signed with Switzerland (which is worth over 20% in terms of value of these agreements), as well as Chile, the Faroe Islands, Eastern and Southern Africa, Israel and the Palestinian Authority.

The Department has also signed Mutual Recognition Agreements with the United States of America, Australia and New Zealand, to ensure that businesses do not face additional bureaucracy and can continue as freely as they do today post exit.

We are advised that many of the other trade agreements are at an advanced stage, and that the Government will sign more in the coming days and weeks.