EU blocks UK from joining pan-European trade network – FT

London has reportedly sought to join the Pan-Euro-Mediterranean convention to support its exporters in the wake of Brexit

The EU has refused to allow the UK join a streamlined network that offers lower tariffs to 20 countries that trade with the bloc, the Financial Times reported on Wednesday, citing officials.

According to the article, the UK had sought to join the Pan-Euro-Mediterranean (PEM) convention, established in 2012 to align rules of origin across trade deals between the EU and countries in Europe, North Africa and the Middle East. The framework allows manufacturers to qualify for lower tariffs when using components sourced from…

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