Brexit pulse alert: respond to the business impacts of Brexit

3 December, 2020

Brexit development

The UK government has signed a partnership agreement with North Macedonia, the UK’s largest trading partner in the Western Balkans. It includes a continuity trade agreement which will ensure that businesses in both countries can continue to trade on largely the same terms as present.

Top Brexit impacts

The agreement provides certainty to businesses that trade between the UK and North Macedonia will continue on largely the same terms as secured in the EU-North Macedonia Stabilisation and Association Agreement, to which the UK is currently party, and which includes tariff-free trade in industrial goods. Last year, the UK conducted over £1.8 billion in trade with North Macedonia, representing around 0.1% of GDP.

The UK government commented the agreement also “provides a framework for closer political dialogue and increased cooperation on important issues such as the environment, education, and human rights. By signing the Agreement, the UK has reaffirmed its commitment to a close relationship with North Macedonia and to playing a continued positive role in the region”

Actions for business

Businesses trading within the UK-North Macedonia corridor will be able to plan for the future with greater certainty. Firms will have some time to examine the legal text of the agreement once published. The trade measures will come into effect on 1 January 2021 after the transition period.

To discuss specific support with your Brexit preparations based on this latest development contact: Deloitte Brexit Insights