News
The U.K. is set to remain in the Common Transit Convention (CTC) after Brexit, ensuring simplified cross-border trade for UK businesses exporting their goods.
The CTC is used for moving goods between the EU member states, the EFTA countries (Iceland, Norway, Liechtenstein and Switzerland) as well as Turkey, Macedonia and Serbia.
The U.K. is currently a member of the CTC while it is in the EU, and has successfully negotiated membership in its own right after Brexit. This would apply to any new trading relationship with the EU or in the unlikely event of a no deal.
Membership of the CTC will help ensure that trade moves freely between the U.K. and CTC members after the U.K leaves the EU. It will provide cashflow benefits to traders and aid trade flow at key points of entry into the U.K., as traders will only have to make customs declarations and pay import duties when they arrive at their final destination.
