Latest announcement - 6 May 2021
- Strategic Partnership between the UK and India (04 May 2021)
The UK and India have agreed a 2030 roadmap which will provide a framework for relations between the 2 countries. The Roadmap includes commitments to deepen cooperation on health, climate, trade, education, science and technology, and defence.
- Trade Agreement between the UK and Jordan (01 May 2021)
The trade agreement, which has now come into effect will ensure ambitious trade cooperation with Jordan while also securing continued preferential trade for British and Jordanian businesses and consumers helping to boost vital trade and investment. The total trade on goods and services between the UK and Jordan was worth £561m in 2020, which both countries will seek to expand. Major items exported to Jordan include: general industrial machinery, mechanical power generators, vehicles, medicinal and pharmaceutical products. UK imports from Jordan include mechanical power generators, vegetables, metal ores, clothing and general industrial machinery.
- Free Trade Agreement between the UK and Vietnam (01 May 2021)
The UK and Vietnam Free Trade Agreement has now entered into force. Between 2011 and 2020, Vietnam’s share of total UK trade doubled. The Free Trade Agreement covers £5.1 bn in trade and provides a platform to grow trade and investment, as well as certainty to UK and Vietnamese businesses. Trade in goods ranging from clothing and footwear to seafood and pharmaceutical products can continue uninterrupted. The Free Trade Agreement secures access to staged tariff reductions between the UK and Vietnam. The deal locks in the 65 per cent of all tariffs that have already been eliminated on UK-Vietnam trade. This will increase to 99 per cent of tariffs after six years .
- Trade Act (29 April 2021)
The Trade Act, which bestows powers necessary to bring new trade deals into being, has been granted Royal Assent, and has formally becomes law. This means the trade deals with 67 countries worth £218bn the UK has already signed can become part of UK law permanently – and that British householders’ and businesses’ interests can be put first in future agreements, for the first time in almost 50 years.
- Trade Relationships between the UK and the Cariforum states (22 April 2021)
The agreement has been updated to include the Bahamas and the Republic of Suriname.