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WTO boss vows BREXIT will not disrupt trade

By Chris Dawson October 26, 2016 - 12:44 pm

EU hmThe head of the World Trade Organisation (WTO) Roberto Azevedo has told Sky News that he will work to ensure that there will be no disruption to trade caused by BREXIT. The worry is that, during or following negotiations with the EU, British trade call stall and UK companies be cut off from their customers around the world.

“Trade will not stop, it will continue and members negotiate the legal basis under which that trade is going to happen. But it doesn’t mean that we’ll have a vacuum or a disruption” Roberto Azevedo told Sky. Britain will have to renegotiate it’s membership with the WTO once they leave the EU, but it’s a relatively routine procedure a renegotiation won’t at any point leave Britain not a WTO member.

Roberto Azevedo stated that there is quite enough turbulence in economies around the world and that it was in no one’s interest for trade with Britain to be disrupted.

Of course the WTO wanting to ensure a smooth transition doesn’t mean that there won’t be hurdles for small businesses to negotiate. Marketplaces should make the technology seamless, but tariffs, excise duties and customs inspections along with associated paperwork would be most unwelcome for retailers and consumers used to freely trading across the EU. In reality retailers already have to handle these trade barriers when selling outside the EU, but that’s never stopped anyone exporting to countries like the US and Australia.

The biggest impact to trade is likely to be the end cost of products to the consumer and that currently looks to be at least as dependant on the fluctuating value of Sterling as it could be impacted by tariffs and duty in the future.

What are your biggest BREXIT worries, is it currency exchange, tariffs, tax and duties, paperwork or something else?

  • steve
    4 months ago

    What ate your biggest Brexit worries?

    1. Slower delivery times due to new customs arrangements
    2. Higher input costs due to the falling pound
    3. Greater competition from within trading blocks who’s members will have distinct advantages over non-members (Brexit Britain)
    4. Impact of higher prices and possible downturn in the UK economy on spending power = less business
    5. Inability to plan over the longer term due to general economic and political stability.

    • Sam O'levski
      4 months ago

      Remember that experts like Morgan Stanley were predicting another global crash before any Brexit results, so any future problems will not only be down to Brexit, although that’s obviously an easy scapegoat.
      We managed very well before joining the rest of Europe, and will certainly manage very well again after an initial transitional period, the length of which will probably dictate public opinion.
      There’s a whole load of English speaking countries we can trade with, making some things much easier once we all get settled and the world adjusts.
      Let’s start by training our school teachers to teach something other than French, or German if the school is ‘adventurous’ !
      Look at the way the world is going, and start teaching all children Spanish as a start then Chinese or Russian, and we might well be a leading economy again in a few generations time.

  • steve
    4 months ago

    Second thoughts, I suppose it would have been better to list the Brexit positives… shame I can’t think of any right now!

    • Mike R
      4 months ago

      No doubt because you are a remoaner, try being a glass half full person instead

  • Derek Duval
    4 months ago

    Lower and realistic Assets prices as normal supply and demand rules will kick in….Reduced low skilled immigration so young people can actually complete for work.

    All in all it will balance out. Good Bye London Banks missing you already…not

    • Sam O'levski
      4 months ago

      Another point not usually mentioned regarding reducing immigration is that foreign workers often send part of their earnings out of the country to relatives ‘back home’, whilst British born workers are more likely to spend that money here, helping our economy.
      By living in a smallish community I can see it around me, and whilst locals sit at home living off benefits, foreign workers are doing things like hotel work for example.
      Some of these foreign workers regularly send money home – their British born workmates are told by them and then gossip, or you can be standing behind them in the post office when they do a transfer, so it’s not an urban myth.
      We need a government which will force British born people to work, and force employers to prove that there is no locally born person available before hiring staff through an agency specialising in foreign recruitment.
      I know some of the foreign workers quite well, and they can go holidays abroad in addition to visits home, buy and furnish property back home etc, all with money earned here – why not have our own people doing those jobs and saving taxpayers forking out on benefits ?

    • TINKER
      4 months ago

      O,Levski ? is that some obscure ancient Anglo ,Saxon Celtic name?

    • Nostril
      4 months ago

      I was thinking the exact same..

    • Sam O'levski
      4 months ago

      It’s actually a play on words, and I’m surprised it hasn’t been commented on before.
      I assume your question relates to my opinion on immigration, and is perhaps hinting that I am of foreign roots somewhere along the line ?
      I have traced my ancestry as far as is easily possible without employing an expert in that field, and I have grandparents born in Ireland, Scotland, and Northern England, so 100% Brit through and through my friend……. if that answers your question ?
      It is possible that I may have relatives from what is roughly present day Kazakhstan, but it was at that time referred to as Scythia, and you would have to read the Treaty Of Arbroath for more details.

    • james
      4 months ago

      that kind of logic really grates me.

      back in good old egypt, if you didnt work hard enough, they whipped you to death. it was your fault for not being a good slave. you deserve it.
      slaves used to be a better quality, now we need to import foreign slaves becuase these ones dont like being whipped.

      we’re lucky enough to live in a country where we can expect a fair wage and fair conditions.
      foreign workers dont expect a fair wage and fair conditions, so they’re happy enough to be whipped all day long, and send what they have left home.

      quite often, it’s foreign employers, ready to take on foreign workers, and subject them to foreign practices that a UK-born citizen would never accept.
      damn lazy brits not wanting to be a third world country, how dare they.

      unless you want to be on the receiving end eventually, dont condone the whip.

      anyone here actually been in a job centre recently?
      I’m guessing thats a resounding No all round.

      (if i’m completely wrong and you do in fact scrub toilets with a toothbrush 18 hours a day for £35, please accept my apologies, but i assume you’re in a comfortable well paid job, bemoaning those who dont want to scrub toilets).

  • TINKER
    4 months ago

    make no mistake about it Great Britain owes its success and standing to immigration . over the past thousand of years

    • james
      4 months ago

      along with crusading and colonisation.
      a lot of people would love to sing of the merits of invading foreign lands and bringing back the great commonwealth.
      i’m kind of in the “treat others as you’d like to be treated” camp; i dont really fancy being invaded and colonised, so i dont advocate ‘making britain great again’ by colonising others. much as i dont advocate the return of slavery or victorian working conditions.

    • TINKER
      4 months ago

      thats the rub
      many in the UK feel they are being invaded

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