UK food and fishery industry is facing a crisis due to Brexit About 4 million people from Eastern Europe belonging to this sector may stop coming to Britain. The EU fears the UK food market could be in a major crisis.
The UK officially departs the European Union on January 31. As a result, Britain will now be able to sign trade agreements with any country independently. But due to hostile relations, coming to a trade agreement with the EU is a big challenge for the country now. And that’s why Britain has only 11 months time. Britain must now give more importance to the production and export of food products. Because of the fisheries and agriculture sectors, the economy of the country adds 46 thousand billion pounds. Due to Brexit, it will take extra time to re-examine the food supply at the border. This will reduce the duration of these processed foods and increase the cost.
Economists say that being a Brexit without a deal is frightening to the prospects of our agriculture sector. This will create a big crisis in the future. However, EU countries are keen on a new deal with Britain. They are looking at how trade competition with the UK will be in the world market in the future. They say the European Union is keen on a duty-free trade deal with Britain. However, that depends on how the EU’s trade competition with the rest of the 27 countries is with Britain.
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On the other hand, Analysts expect Britain’s Prime Minister Boris Johnson to be in a hurry over a new trade deal with the country’s major economic allies in the 11 months following the Brexit transition. Failure to do so will further complicate Britain’s economic crisis in the meantime.
After being with a strong trade group like the EU for four decades, Britain now has to go its own way. In the first step, the country must first determine the possible relations with the EU. About half of UK exports to the EU depend largely on the relationship with the future of the country’s economy. However, Boris Johnson said he no longer wants to stay in the EU. At the same time, he is looking for new trade agreements with every other powerful country in the world, such as the US. The danger is that the longer Britain moves away from the EU, the more trouble the country will have to deal with neighboring countries like France and Germany. Because many British companies have already suffered due to the Brexit uncertainty. As a result, they are not in a position to handle any kind of trade barrier. Moreover, there is doubt as to whether Britain’s current inexperienced negotiating parties can successfully negotiate trade agreements with Europe and the United States.
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“We haven’t had any trade talks in 40 years,” said Kim Darroch, a former British ambassador to the United States. Moreover, the UK has not yet disclosed the aims and objectives of trade negotiations with the United States. The truth is, we do not have the capacity to work on this issue.
Meanwhile, Britain’s trade relations with the EU will not change in the next 11 months after Brexit. Johnson repeatedly confirmed that he would not do so, even though he applied for an extension. But if there is any mistake, in this case, the danger will be increased for Britain. Because Britain will not face a new trade deal with Brussels after the expiry of the deadline, the country will face major trade barriers. And for a long time, the businessmen were in awe of the matter. At the same time, the chief executives of companies such as Airbus and Nissan expressed concern over the dire economic consequences of Brexit.
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