Rome: Britain’s new trade minister expressed optimism on Tuesday about the potential removal of certain trade barriers with the European Union (EU), though he emphasized that the arbitration mechanism for disputes would be subject to negotiation.
Following the Labour Party’s victory in a July 4 election, the government aims to forge a new food and veterinary agreement with the EU to streamline border checks on animal products, without reopening core aspects of the Brexit deal. However, critics argue this could involve oversight from the European Court of Justice (ECJ), which Brexit supporters view as compromising British sovereignty.
Jonathan Reynolds, recently appointed secretary of state for business and trade, conveyed his belief in the possibility of reaching a deal during a meeting of Group of Seven (G7) trade ministers in Italy. He acknowledged that dispute resolution mechanisms would be a critical part of negotiations, including potential recourse to the ECJ.
Also Read | Exiled Chinese Businessman Guo Wengui Found Guilty of Fraud in U.S. Trial
“How you resolve any dispute is always something that will be a part of the negotiation you are having,” Reynolds told international news agency Reuters, speaking by telephone from the southern region of Calabria. “Of course, this is one facet of a deal that we hope will cover a whole range of issues, not just economic but also relating to defence and security as well,” he said.
He also outlined ambitions to secure mutual recognition of professional qualifications within the EU and facilitate easier access for touring musicians. During discussions with European counterparts, Reynolds addressed EU tariffs on Chinese electric vehicle imports, expressing cautiousness regarding similar actions by Britain due to the export-driven nature of its domestic auto sector.
Also Read | India’s Food Subsidies Expected to Surge by 11% Over Initial Plan
While previous British efforts to secure trade deals, including talks with Canada and India, faced setbacks, Reynolds indicated readiness to resume negotiations with India promptly following an invitation from Indian Trade Minister Piyush Goyal at the G7 conference.
Looking ahead, Reynolds acknowledged the challenges in swiftly securing a bilateral trade deal with the United States but underscored the enduring importance of the UK-US relationship.
