Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Trading > Factbox-What’s in the EU plan for future Britain-to-Northern Ireland trade?
    Trading

    Factbox-What’s in the EU plan for future Britain-to-Northern Ireland trade?

    Factbox-What’s in the EU plan for future Britain-to-Northern Ireland trade?

    Published by maria gbaf

    Posted on October 14, 2021

    Featured image for article about Trading

    BRUSSELS (Reuters) – The European Union proposed measures on Wednesday that could halve customs paperwork required to move goods from Britain to Northern Ireland and cut checks on food imports by 80%.

    Northern Ireland remains in the EU single market despite Brexit because of its open border with EU member Ireland. This has snagged trade between Northern Ireland and the rest of the United Kingdom and Britain says the arrangement does not work.

    The following are details of the four-part package that will be put to Britain, which is demanding a more extensive overhaul:

    FOOD CHECKS

    The European Union has a series of SPS (sanitary and phytosanitary) rules to protect animal, plant or public health that dictate what food products can be imported and how.

    Imports of meat, dairy produce and fresh fruits and vegetables need to be accompanied by health certificates, while imports of minced meat and ‘meat preparations’, such as sausages or burgers, are banned outright, unless they are frozen.

    Since Northern Ireland is in the EU single market, the same rules apply for imports of such products from Britain.

    After the expiry of an unspecified grace period, supermarkets would no longer be able to supply their Northern Irish stores with products such as sausages coming from Britain and would need health certificates for other agri-food products.

    The EU plan is designed as a Northern Ireland-specific arrangement, that could reduce physical checks by 80% – for a range of products found on supermarket shelves there, such as Cumberland sausages.

    In return for fewer checks, the EU would want more market surveillance and reinforced monitoring of supply chains to ensure the goods in question are only going to Northern Ireland.

    In future, a truck bringing, for example, 100 different types of food, would require just one certificate stating the various goods, rather than 100. Imports of products of animal origin will no longer be subject to the same level of checks.

    CUSTOMS

    British goods entering Northern Ireland that are considered to be “at risk” of entering the single market can face extensive customs paperwork. Imports by small Northern Irish manufacturers or suppliers of retail goods in Northern Ireland are exempt.

    The EU plan would extend this exemption from lengthy paperwork to manufacturers with a higher turnover and to suppliers based in mainland Britain.

    So a Northern Irish car dealer importing car parts from Great Britain would only need to provide basic information, such as the invoice value and parties to the transaction, for customs purposes, rather than a full-set of customs code information.

    The EU believes this will cut customs paperwork by over half. Taken with the SPS changes, there would be a form of “express lane” to facilitate the movement of goods.

    MEDICINES

    Northern Ireland’s place in the EU single market also extends to imported medicines, which need to follow EU rules.

    The British Generic Manufacturers Association says the extra warehousing, lab testing and technical specialists will make supplying Northern Ireland unviable in many cases, potentially leading to the withdrawal of 2,000 medicines.

    Most of Northern Ireland’s medicines come from Britain, with generics seen as most threatened due to their low margins, when a grace period expires at the end of the year.

    Under the EU proposal, regulatory functions could continue to take place in Great Britain, which could remain a hub of generic drug supply, and they would not have to relocate infrastructure to Northern Ireland.

    NORTHERN IRELAND PARTICIPATION

    In the fourth paper, the EU sets out plans to improve the exchange of information with Northern Irish authorities, businesses and society to make the application of the protocol more transparent.

    (Reporting by Philip Blenkinsop; editing by Philippa Fletcher)

    BRUSSELS (Reuters) – The European Union proposed measures on Wednesday that could halve customs paperwork required to move goods from Britain to Northern Ireland and cut checks on food imports by 80%.

    Northern Ireland remains in the EU single market despite Brexit because of its open border with EU member Ireland. This has snagged trade between Northern Ireland and the rest of the United Kingdom and Britain says the arrangement does not work.

    The following are details of the four-part package that will be put to Britain, which is demanding a more extensive overhaul:

    FOOD CHECKS

    The European Union has a series of SPS (sanitary and phytosanitary) rules to protect animal, plant or public health that dictate what food products can be imported and how.

    Imports of meat, dairy produce and fresh fruits and vegetables need to be accompanied by health certificates, while imports of minced meat and ‘meat preparations’, such as sausages or burgers, are banned outright, unless they are frozen.

    Since Northern Ireland is in the EU single market, the same rules apply for imports of such products from Britain.

    After the expiry of an unspecified grace period, supermarkets would no longer be able to supply their Northern Irish stores with products such as sausages coming from Britain and would need health certificates for other agri-food products.

    The EU plan is designed as a Northern Ireland-specific arrangement, that could reduce physical checks by 80% – for a range of products found on supermarket shelves there, such as Cumberland sausages.

    In return for fewer checks, the EU would want more market surveillance and reinforced monitoring of supply chains to ensure the goods in question are only going to Northern Ireland.

    In future, a truck bringing, for example, 100 different types of food, would require just one certificate stating the various goods, rather than 100. Imports of products of animal origin will no longer be subject to the same level of checks.

    CUSTOMS

    British goods entering Northern Ireland that are considered to be “at risk” of entering the single market can face extensive customs paperwork. Imports by small Northern Irish manufacturers or suppliers of retail goods in Northern Ireland are exempt.

    The EU plan would extend this exemption from lengthy paperwork to manufacturers with a higher turnover and to suppliers based in mainland Britain.

    So a Northern Irish car dealer importing car parts from Great Britain would only need to provide basic information, such as the invoice value and parties to the transaction, for customs purposes, rather than a full-set of customs code information.

    The EU believes this will cut customs paperwork by over half. Taken with the SPS changes, there would be a form of “express lane” to facilitate the movement of goods.

    MEDICINES

    Northern Ireland’s place in the EU single market also extends to imported medicines, which need to follow EU rules.

    The British Generic Manufacturers Association says the extra warehousing, lab testing and technical specialists will make supplying Northern Ireland unviable in many cases, potentially leading to the withdrawal of 2,000 medicines.

    Most of Northern Ireland’s medicines come from Britain, with generics seen as most threatened due to their low margins, when a grace period expires at the end of the year.

    Under the EU proposal, regulatory functions could continue to take place in Great Britain, which could remain a hub of generic drug supply, and they would not have to relocate infrastructure to Northern Ireland.

    NORTHERN IRELAND PARTICIPATION

    In the fourth paper, the EU sets out plans to improve the exchange of information with Northern Irish authorities, businesses and society to make the application of the protocol more transparent.

    (Reporting by Philip Blenkinsop; editing by Philippa Fletcher)

    Related Posts
    What Is a Liquidity Provider – And Why Modern Brokers Can’t Function Without One
    What Is a Liquidity Provider – And Why Modern Brokers Can’t Function Without One
    OneFunded: Prop Firm Overview and Program Structure
    OneFunded: Prop Firm Overview and Program Structure
    What if You Can Actually Chat with Your Crypto Wallet?
    What if You Can Actually Chat with Your Crypto Wallet?
    The Growing Importance of Choosing the Right Crypto Broker in 2025
    The Growing Importance of Choosing the Right Crypto Broker in 2025
    The Rise of Algorithmic Trading Among Retail Investors in the UK
    The Rise of Algorithmic Trading Among Retail Investors in the UK
    Forex Trading for the 9-to-5er: A Realistic Path to a Second Income
    Forex Trading for the 9-to-5er: A Realistic Path to a Second Income
    Quality Matters: ZiNRai’s Focus on Empowering Traders with Precision and Purpose
    Quality Matters: ZiNRai’s Focus on Empowering Traders with Precision and Purpose
    MiCA Regulations and the Legal Requirements for Crypto Presales and Token Offerings in the European Union
    MiCA Regulations and the Legal Requirements for Crypto Presales and Token Offerings in the European Union
    Top Ways Forex Traders Benefit From Peer-to-Peer Learning
    Top Ways Forex Traders Benefit From Peer-to-Peer Learning
    Why High Leverage Remains Attractive to Forex Traders Worldwide
    Why High Leverage Remains Attractive to Forex Traders Worldwide
    XDC Network’s ETP Listing Signals the Maturing Convergence of Blockchain and Trade Finance
    XDC Network’s ETP Listing Signals the Maturing Convergence of Blockchain and Trade Finance
    Inside the Perp DEX Landscape: How Platforms Like Grvt and Hyperliquid Are Shaping Their Long-Term Vision
    Inside the Perp DEX Landscape: How Platforms Like Grvt and Hyperliquid Are Shaping Their Long-Term Vision

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Trading

    Explore more articles in the Trading category

    Blending Theory and Practice: Building Stronger Forex Strategies

    Blending Theory and Practice: Building Stronger Forex Strategies

    Strategies for Professional CFD Traders: Tools and Company Support

    Strategies for Professional CFD Traders: Tools and Company Support

    Trust as the Cornerstone of Capital Markets

    Trust as the Cornerstone of Capital Markets

    UK Investors Reassess Trading Venues as Liquidity Shifts

    UK Investors Reassess Trading Venues as Liquidity Shifts

    Bitcoin Price Live: What Factors Influence Its Value?

    Bitcoin Price Live: What Factors Influence Its Value?

    Offshore Forex Brokers vs. U.S.-Regulated Brokers: A Risk Assessment

    Offshore Forex Brokers vs. U.S.-Regulated Brokers: A Risk Assessment

    The Broker Expo, Its Role in the Small Business World, and Everest Business Funding’s Role as Sponsor

    The Broker Expo, Its Role in the Small Business World, and Everest Business Funding’s Role as Sponsor

    Finding Your Edge with a Crypto-First Prop Firm

    Finding Your Edge with a Crypto-First Prop Firm

    Evaluating the Most Reliable Tools for Tracking Real-Time Cryptocurrency Prices

    Evaluating the Most Reliable Tools for Tracking Real-Time Cryptocurrency Prices

    MT5 vs MT4: Why More Brokers Are Moving to MetaTrader 5

    MT5 vs MT4: Why More Brokers Are Moving to MetaTrader 5

    From Central Banks to Retail Traders: Who Drives the Forex Market?

    From Central Banks to Retail Traders: Who Drives the Forex Market?

    Building a Winning Forex Portfolio: Tools and Resources You Can’t Ignore

    Building a Winning Forex Portfolio: Tools and Resources You Can’t Ignore

    View All Trading Posts
    Previous Trading PostOnly Shell, Ecopetrol place bids in disappointing Brazilian oil round
    Next Trading PostEU proposes easing controls on British trade to N. Ireland