Minister rules out UK joining pan-Europe trade agreement
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A minister has ruled out the UK joining a pan-European agreement to bolster post-Brexit trade. Matthew Pennycook said the Government was “not seeking” to participate in the Pan-Euro-Mediterranean Convention (PEM). Maros Sefcovic, the official who led post-Brexit negotiations for the EU, had told the BBC that the UK joining the PEM is “something we could consider”.
The deal allows for tariff-free trade of goods across Europe, as well as some North African and Levantine nations. Asked if the UK could join the PEM, housing minister Mr Pennycook said: “We’re not seeking to participate in that particular arrangement.”.
He also told BBC Radio 4’s Today programme: “I think in general the Government’s been very clear… that we do want a closer relationship with our European partners, both in trading terms but also, importantly – and this speaks to your previous segment – in terms of security and defence co-operation, where we need to work far more closely.
“So absolutely, yes, we do want a closer relationship. As for this particular arrangement: no, we’re not seeking to participate in it at the present time.”. Some business groups have backed the UK joining the PEM as it would help to maintain complex supply chains, but the previous Conservative government chose not to pursue it as part of a post-Brexit trade agreement.
