The recent EU-UK reset deal is seen as a critical step towards enhancing economic relations, though immediate growth is not anticipated. Key components include the establishment of a common sanitary and phytosanitary (SPS) area, which aims to reduce regulatory barriers for food and agricultural exports, and a commitment to closer energy policy cooperation, particularly around emissions trading. While the agreement is welcomed by businesses, especially the British Chambers of Commerce, many details still require negotiation, and the wider impacts of Brexit on trade continue to present significant challenges.
The long-hoped-for agreement to create a common sanitary and phytosanitary (SPS) area aims to dismantle damaging non-tariff barriers affecting the food and agriculture sectors.
The British Chambers of Commerce described the SPS agreement prospect as a huge boost for UK exporters, emphasizing its potential to cut costs and increase sales.
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