CEO of chemicals group welcomes Brexit transition agreement

The Chief Executive of the Chemical Industries Association (CIA) has welcomed the announcement by the Brexit Secretary that access to markets will remain unchanged until the end of 2020.

Making the comments, Steve Elliot said the steps announced by negotiators David Davis and Michel Barnier following Monday’s transition agreement talks were something the CIA has campaigned for ever since the outcome of the referendum vote.

Crucially, the aspect of the talks that will allow the UK and EU the same access to one and other’s markets for the period to December 31, 2020, will “be essential in adapting to the future relationship (with the negotiations for that future relationship concluded well before the transition period begins),” according to Elliot.

“The more certainty and clarity we can bring to our exit arrangements, including trade deals with the EU and the rest of the world, the easier it becomes for businesses to consider investment opportunities in our country,” he explained.

“As recently agreed with the EU 27 chemical industry, we now hope the Prime Minister’s proposal of Associate Membership of the European Chemicals Agency can be given serious consideration in the detailed negotiations to follow and we can progress those as efficiently as possible.”

The other key points from Monday’s talks included the guaranteed right of EU citizens arriving in the UK from the day Brexit takes effect, 29 March 2019, to 31 December 2020, as those arriving prior.

The proposed agreement would also secure the UK’s right to negotiate, sign and ratify its own trade deals during the period 29 March 2019 to 31 December 2020 and enable it to be party to existing EU trade deals with other countries.

Northern Ireland will also remain in the single market and part of the customs union for the agreed transition period.

These agreements for the transition period will now be considered by the other EU 27 leaders at a Summit this week before sign-off.