adminBritain yesterday urged businesses to prepare for Brexit, just days before a transition period designed to smooth the UK’s departure from the European Union comes to an end.
Britain and the EU clinched a trade deal last Thursday – one which preserves zero-tariff and zero-quota access to the bloc’s single market but which will still cause disruption. The transition period, under which Britain stayed aligned to the EU’s trading and regulatory rules, ends at 2300 GMT on December 31.
“The deal is done, but with big change comes challenge and opportunity,” cabinet office minister Michael Gove said in a statement, adding that businesses need to adjust to Britain’s departure from the EU Single Market and Customs Union.
“There are practical and procedural changes that businesses and citizens need to get ready for, and time to make these final preparations is very short.”
The transition period was initially agreed to keep existing trade ties unchanged for 21 months after the original planned Brexit date of March 29, 2019.-Reuters
Online Reporter