Today, BritishAmerican Business is publishing its latest white paper, “Rebuilding the Bridge: Recommendations for a Strong UK-EU Economic Corridor.”
The paper is being released at a pivotal moment, as tension over the Northern Ireland Protocol has cast uncertainty over the future direction of UK-EU trade and economic cooperation.
Transatlantic businesses have continuously emphasized that preserving a strong trading relationship between the UK and the EU must be an important priority for both parties. While businesses have shown great resiliency in adapting to changing regulations and trading processes following the UK’s departure from the EU, future developments in this relationship will strongly influence business confidence in the UK as a place to do business and invest.
The white paper, which has been produced in consultation with BAB’s members as part of BAB’s ongoing policy work and 2021-2022 Policy Agenda priorities, is meant to serve as an encouragement for both sides to work cooperatively to identify joint solutions that ease challenges in areas such as in customs facilitation, labour mobility, and trade in services. The paper offers pragmatic recommendations to shape the future of the economic corridor, and calls on both parties to resolve the current dispute over the Northern Ireland Protocol and to take steps to make new trading terms workable for Small and Medium-Sized Enterprises (SMEs).
Maintaining strong political and economic ties between proven partners is needed to effectively respond to global challenges, like the ongoing crisis in Ukraine. Now more than ever, the EU and the UK should pursue a constructive relationship for the benefit of our economies, businesses, and people.