UK considers joining agreement to boost trade opportunities for British businesses
Call for Evidence opens to seek views on the merits of acceding to the PEM Convention
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Government launches Call for Evidence to understand merits of the Pan-Euro Mediterranean (PEM) Convention as it weighs up accession
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Businesses invited to give views on joining framework which could simplify rules of origin with FTA partners across continental Europe, the Middle East, and Africa
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Submissions will help establish if joining could make UK goods trade with PEM countries – worth over £500bn in 2024 – easier and cheaper for British businesses
The government is today (17 November) asking businesses, trade bodies, and stakeholders whether the UK should look to join the Pan-Euro Mediterranean (PEM) Convention as it launches a formal Call for Evidence.
The landmark Trade Strategy published this summer committed to exploring accession as part of the government’s broader efforts to secure greater access to global markets for businesses, make the UK the most connected nation in the world, and deliver economic growth at home.
Complex rules of origin are often cited by businesses as a barrier to trade. PEM reduces this burden by establishing common rules of origins among its 25 members and supporting the integration of supply chains from Reykjavik to Rabat, Berlin to Belgrade.
Bringing Britain on equal footing with PEM members could offer mutual benefit to both UK business and businesses across the region. UK accession could particularly benefit sectors which manufacture in Britain but may source materials across neighbouring countries, such as the auto, fashion, and advanced manufacturing industries.
Business and Trade Secretary Peter Kyle said:
Britain is back to being reliable, ambitious and future-focused.
In our Trade Strategy, we committed to making the UK the most connected nation in the world to deliver growth and opportunity as part of our Plan for Change.
Now we want to hear from businesses to make sure we take advantage of the right opportunities that will help them to thrive.
It comes as Business and Trade Secretary Peter Kyle addressed a meeting of around 50 business leaders in the European Round Table for Industry (ERT) and follows the UK’s landmark reset deal with the EU in May.
Notes to editors
- Open from today, the Call for Evidence will run for four weeks. Following its closure, DBT will publish an official response.
- To share your views, please visit.
- Source for total goods trade of over £500bn in 2024: DBT calculations based on trade in goods data sourced from the ONS: Trade in goods: country-by-commodity imports and exports.