Read on Twitter
Since we're back on freeports, I thought I'd do another quick
on them.
Here is a list of things that I'd like to see in the UK BEFORE we start setting up freeports
/1 https://twitter.com/iainmartin1/status/1288385947453853696
on them. Here is a list of things that I'd like to see in the UK BEFORE we start setting up freeports
/1 https://twitter.com/iainmartin1/status/1288385947453853696
Quick disclaimer: I'm all for freeports provided that they make economic sense and there is a clear business case for them.
So far, I've not seen such analysis with respect to UK freeports
/2
So far, I've not seen such analysis with respect to UK freeports
/2
The fact that the propagators of the idea reference freeports in the Middle East or parts of South America should tell you all you need to know about the tax-cutting potential...
Not quite like with FTAs where it's all about like-minded democracies... anyhow on with the list
/3
Not quite like with FTAs where it's all about like-minded democracies... anyhow on with the list
/3
Border operating model for the Irish Sea border
/4
/4
Details of the implementation of the NI Protocol including clear procedures for determining goods at risk and reimbursements, waivers and compensation by the UK Gov as mentioned in Article 5 para 6 of the Protocol
/5
/5
Details of GVMS, specs, inputs/outputs and timelines for delivery especially given the 1.1.2021 requirements for certain borders (Irish Sea) and certain products that are not subject to the phase-in period
/6
/6
Details of the phase-in period and what conditions traders will need to fulfil to be able to enter goods into their records
/7
/7
Current thinking on AEO, in particular, if there are any plans for AEO-light for SMEs
/8
/8
Confirmation that the "unfettered" access NI to GB has been discussed and agreed with the EU (export/exit declarations)
/9
/9
Anything on the Smart Freight System
/10
/10
Full IPAFFS process mapping - will the system, pre-notifications etc work in the same way as under TRACES?
/11
/11
Info on the UK's standards regime and CE marking as requested by a number of organisations
/12
/12
A confirmation that the current MFN tariffs are final
/13
/13
A comprehensive trade policy/strategy that would set all the current and prospective FTA negotiations in a broader multilateral context and connect all of that with domestic policy goals and objectives
/14
/14
Our ask for the UK-Japan FTA negotiations
/15
/15
Impact assessment and in-depth analysis of UK joining the CPTPP
/16
/16
Clarity on whether or not we're likely to have a deal with the EU would be helpful
/17
/17
View on where we actually are with product regulation, health and safety, food standards - are we leaning towards the EU or US model here cause it is a bit of a "will they, won't they" situation at the moment
/18
/18
These are 14 of the things I'd like to see before we continue talking about freeports.
This is by no means an exhaustive list!
In fact, feel free to add your trade-related unanswered questions
/19
This is by no means an exhaustive list!
In fact, feel free to add your trade-related unanswered questions
/19
But just in case anyone has made it this far - I think the message is clear:
There is a lot to do and not enough time. Time and effort spent on freeport consultations, analysis etc right now is time taken away from other, more pressing issues
/20
There is a lot to do and not enough time. Time and effort spent on freeport consultations, analysis etc right now is time taken away from other, more pressing issues
/20
Freeports will always be an option- there is absolutely no need to focus on this right now.
They will not "save" us from Brexit and they will not be the main benefit - seriously, if they are then we're all doomed anyway
/21
They will not "save" us from Brexit and they will not be the main benefit - seriously, if they are then we're all doomed anyway
/21
And finally, a reminder that freeports don't actually help with customs paperwork, they don't cut red tape - they create an additional border.
On tariff benefits, I'll leave you with this from @pholmes8
/ends
https://blogs.sussex.ac.uk/uktpo/2020/07/28/tariff-inversion-in-uk-freeports-offer-little-opportunity-for-duty-savings/
On tariff benefits, I'll leave you with this from @pholmes8
/ends
https://blogs.sussex.ac.uk/uktpo/2020/07/28/tariff-inversion-in-uk-freeports-offer-little-opportunity-for-duty-savings/
