“Trading arrangements between the UK and Malta, like the rest of the EU, will remain unchanged until the end of the year, even though Britain leaves the bloc at the end of the month.
“The Customs Department explained on Wednesday that an 11-month transition period kicks off at the end of January [2020] and lasts until December 31.”
Brexit does not mean immediate Customs duties on UK imports — Times of Malta (22/01/2020)
EuroBridge would like to share some important information about Brexit and its probable effects on trade between Malta and the United Kingdom, after the latter’s withdrawal from the European Union at the end of this month.
Although the UK will cease to be a member of the EU on the 31st of January, any trade arrangements currently in place between the UK and Malta (and other EU member states) will remain unchanged for the duration of a transition period that will last until the 31st of December.
During this transition period, Customs procedures will continue as they have done up until today and the same rules will apply for movement of goods.
From the 1st of January, 2021, new customs procedures will probably be introduced depending on the specific details of the bilateral agreements that the UK government will work out with the EU27 states during the transition period.
In the case that an agreement isn’t reached during the transition period, then it is expected that WTO GATT tariffs will apply between the two trading blocs. EuroBridge will be providing more information to its clients about the terms of the withdrawal process as soon as the situation becomes clearer.
For more information about the UK exit deal and the transition period, please take a look at these links:
