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Tariff free trade with Europe?
AlArabiya English
Follow
2/1/2025
How the Pan-Euro-Mediterranean Convention (PEM) could help the UK trade more freely with parts of Europe and North Africa.
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00:00
Yes indeed and we've also had a change of government as we know we've got
00:04
Labour in now and Chancellor Rachel Reeve referenced a Brexit reset in her
00:09
big growth kickstart speech which was earlier this week saying the UK is
00:14
absolutely happy to look at joining a tariff-free trading scheme with Europe.
00:20
Ollie, what exactly would this look like?
00:25
Well this scheme that is being
00:27
potentially thought about by the UK government and it's been rather coy
00:31
about whether or not it would like to join up to something like this is it is
00:36
a customs arrangement that is not explicitly the UK government wants to be
00:41
clear, a customs union of the type that it used to be signed up to when it was a
00:45
member of the European Union. It's called the Pan-Euro-Mediterranean Convention
00:50
that's what we're talking about here. It's a grouping of 25 or so countries in
00:55
Europe and mostly the North African Mediterranean region and what it means
01:01
is that the signatories to this convention in some areas goods moving
01:06
from one supply chain to another can be easier moving in various different
01:13
directions between countries than if you are outside this grouping.
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