![\"\"](\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2019\/10\/iStock-1011694684.jpg\")
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One of the\u00a0<\/span>main<\/span>\u00a0<\/span>reason<\/span>s\u00a0<\/span>why<\/span>\u00a0a no-deal<\/span>\u00a0<\/span>Brexit has\u00a0<\/span>been\u00a0<\/span>caus<\/span>ing<\/span>\u00a0evident concern on<\/span>\u00a0<\/span>both the UK and the EU<\/span>\u2019s side<\/span>\u00a0is<\/span>\u00a0attributed\u00a0<\/span>to\u00a0<\/span>the trade set-backs and implications this will entail.<\/span>\u00a0\u00a0<\/span>\u00a0<\/span>If the UK leaves the EU with<\/span>out a<\/span>\u00a0deal,<\/span>\u00a0which is\u00a0<\/span>so far\u00a0<\/span>proving to be the most likely<\/span>\u00a0scenario<\/span>, all trade arrangements including tariff-free access\u00a0<\/span>between the<\/span>\u00a0UK and the EU\u2019s markets will be lost.\u00a0<\/span>\u00a0<\/span>Looking<\/span>\u00a0at\u00a0<\/span>201<\/span>8\u00a0<\/span>figures<\/span><\/a>, the<\/span>\u00a0EU remains the<\/span>\u00a0UK<\/span>\u2019s most important trading partner; in fact<\/span>,\u00a0<\/span>46% of total UK exports are to the EU and<\/span>\u00a0the UK<\/span>\u00a0import<\/span>s<\/span>\u00a054% of all its imports from the EU.\u00a0<\/span>This makes sense not only because the UK is still (so far) an EU Member State, but also because of the EU\u2019s importance in international trade.\u00a0 The\u00a0<\/span>EU\u2019s GDP<\/span><\/a>\u00a0<\/span>accounts to\u00a0<\/span>above\u00a0<\/span>\u20ac15 trillio<\/span>n<\/span>,\u00a0<\/span>establishing it as one of\u00a0<\/span>the top three\u00a0<\/span>players in\u00a0<\/span>international trade<\/span>\u00a0with<\/span>\u00a0a share of<\/span>\u00a015.6\u202f%\u202f<\/span>of exports and imports worldwide.<\/span>\u00a0<\/span><\/p>\n This makes the EU not only attractive but as such almost\u00a0<\/span>inevitable<\/span>\u00a0to trade with.\u00a0\u00a0<\/span>In fact, thanks to its economic and trade power<\/span>\u00a0as a bloc\u00a0<\/span>of 28 Member States<\/span>,\u00a0<\/span>the EU has managed<\/span>\u00a0to<\/span>\u00a0negotiate approximately 40 free trade agreements which include more than 70 countries world-wide.\u00a0\u00a0<\/span>\u00a0<\/span>The EU\u2019s trade policy goes beyond the elimination of trade barriers such as quotas and tariffs when trading with other countries.\u00a0 Thanks to the trade agreements the EU has established, there has been increased trading opportunities for European business and enterprises to export their products and services outside the EU.\u00a0<\/span>\u00a0Increased trade through free trade agreements\u00a0<\/span>supports economic growth as well as employment, with recent statistics showing that\u00a0<\/span>EU exports support\u00a0<\/span>36 million jobs\u00a0<\/span>across the EU<\/span><\/a>.\u00a0\u00a0<\/span>\u00a0Free trade agreements also make sure that i<\/span>mports<\/span>\u00a0coming to the EU adhere to the right safety, social and environmental standards.\u00a0<\/span>\u00a0<\/span><\/p>\n Therefore, in\u00a0<\/span>this context, a no deal Brexit is certainly not a preferred outcom<\/span>e<\/span>, especially in the kind of\u00a0<\/span>economic globalised world<\/span>\u00a0we live in today where the EU emerges as one of the top players.\u00a0\u00a0<\/span>\u00a0<\/span>There will be clear impacts, the extent to which will<\/span>\u00a0be evident<\/span>\u00a0in the coming months and years.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" One of the\u00a0main\u00a0reasons\u00a0why\u00a0a no-deal\u00a0Brexit has\u00a0been\u00a0causing\u00a0evident concern on\u00a0both the UK and the EU\u2019s side\u00a0is\u00a0attributed\u00a0to\u00a0the trade set-backs and implications this will entail.\u00a0\u00a0\u00a0If the UK leaves the EU without a\u00a0deal,\u00a0which is\u00a0so far\u00a0proving […]<\/p>\n","protected":false},"author":6,"featured_media":3072,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":""},"issuem_issue":[137],"issuem_issue_categories":[],"issuem_issue_tags":[],"translation":{"provider":"WPGlobus","version":"2.8.8","language":"en","enabled_languages":["mt","en"],"languages":{"mt":{"title":true,"content":true,"excerpt":false},"en":{"title":true,"content":true,"excerpt":false}}},"_links":{"self":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/3076"}],"collection":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article"}],"about":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/types\/article"}],"author":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/comments?post=3076"}],"version-history":[{"count":2,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/3076\/revisions"}],"predecessor-version":[{"id":3078,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/3076\/revisions\/3078"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media\/3072"}],"wp:attachment":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media?parent=3076"}],"wp:term":[{"taxonomy":"issuem_issue","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue?post=3076"},{"taxonomy":"issuem_issue_categories","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_categories?post=3076"},{"taxonomy":"issuem_issue_tags","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_tags?post=3076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}