As the European Union and the United Kingdom prepare to embark on complex trade and economic negotiations (see other news), the United Nations Conference on Trade and Development (UNCTAD) outlines the risks of the talks failing, in a report published on Tuesday 25 February.
The UN organisation warns that post-Brexit exports from the UK could fall drastically if the parties fail to reach an agreement.
The absence of a trade agreement after the transition period ends may see a 14% fall in UK exports as a result of both non-tariff measures and customs duties. If a 'standard' agreement is signed, the report predicts that there will be a 9% reduction.
Developing countries, particularly Ireland, might, however, benefit from the loss of access to the UK market for European products. They would, however, be affected by regulatory barriers and other non-tariff measures that might be erected between the two parties.
To consult the report, go to: https://bit.ly/2TcjOlj (Original version in French by Hermine Donceel)