Global Trade Groups Urge EU Customs Reform for Economic Resilience

European trade relations are evolving as Maros Sefcovic, the EU trade chief, indicated the possibility of the UK joining the Pan-Euro-Mediterranean Convention (PEM) to enhance tariff-free trade and support complex supply chains. This comes amid consultations by the UK government with businesses to explore the benefits of PEM, which some groups see as a means to mitigate trade barriers established post-Brexit. Sefcovic stressed that no formal proposal has been made yet and that the initiative is now in the UK's hands. He also mentioned the need for a review of a full-scale veterinary agreement to reduce trade friction for UK food and agriculture exports. Additionally, the expiration of the EU-UK fisheries deal next year presents a crucial point for future negotiations. Overall, Sefcovic noted that UK-EU relations are improving, with open lines of communication established between leadership on both sides.