UK and USA Agreement | Australia Trade Deal | QITO Q4 2018

Posted on 21/02/2019 by DHL Express

UK and USA continue Mutual Recognition Agreement

The UK and USA have signed an agreement to continue the existing arrangements in place which facilitate goods trade and support jobs in the two nations. The Mutual Recognition Agreement on Conformity Assessment (MRA) was signed by Her Majesty’s Ambassador Sir Kim Darroch and Deputy United States Trade Representative C.J. Mahoney last week.

Total UK-US trade in sectors covered by the deal is worth up to £12.8 billion. Of this, UK exports covered are worth an estimated £8.9 billion, which is more than a fifth of total UK goods exports to the US. Today’s signing marks a crucial step in the important trading relationship between the UK and America, the world’s largest economy.

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Australia fast-track UK trade deal

Australia has pledged to fast-track a trade deal with Britain in the event of a no-deal Brexit in a show of support for its UK allies. This follows news that a British-Australian working group has been meeting for around 18 months to prepare for a no-deal Brexit before the March 29 deadline.

Australian Trade Minister Simon Birmingham has taken to preparing for all eventualities should the UK leave the EU without a trade deal and has encouraged the UK to finalise an agreement as quickly as possible. “I would absolutely hope that we would conclude negotiations this year.”

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Quarterly International Trade Outlook for Q4 2018 is released

The British Chambers of Commerce (BCC), in partnership with DHL Express, has produced its Quarterly International Trade Outlook (QITO) covering October to December 2018. The QITO report is designed to give British Business a better understanding of dynamic new markets and the international opportunities they create.

The findings indicate that while only some exporters are seeing an increase in export sales over the last three months, others show confidence that performance will improve. 57 per cent of both exporting manufacturers and service providers expect to see an increase in turnovers in the next twelve months.

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