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Maros Sefcovic, the new European Union trade chief responsible for post-Brexit negotiations, has said that he is open to considering the idea of a “pan-European [customs] area” as part of talks between the UK and the EU. This concept, known as the Pan-Euro-Mediterranean Convention (PEM), would enable manufacturers to engage in tariff-free trade by using parts or ingredients from dozens of countries across Europe and the Mediterranean. Although some UK business groups have backed the notion of the UK joining PEM, the previous Conservative government opted not to pursue it as part of its post-Brexit trade deal.
Speaking at the World Economic Forum in Davos, Sefcovic stated that although the UK has not yet precisely formulated the idea of joining the PEM Convention, the ball is in its court. The UK government has reportedly commenced discussions with businesses in order to determine how joining the PEM plan could help reduce red tape and improve trade, but no final decision has yet been reached.
Sefcovic also commented that a fully fledged veterinary agreement would be needed to reduce friction in farm and food trade. Additionally, the EU-UK fisheries deal will expire next year and Sefcovic noted that finding a solution for fisheries was incredibly important for the EU. He also confirmed that the EU would have to exercise caution in its approach towards trade with the Trump administration in Washington but stated that negotiations were still possible.
Finally, Sefcovic expressed his surprise at how the European Commission’s offer on youth exchanges had been mischaracterized: “It’s not freedom of movement. It’s a bridge-building proposal.” Sefcovic minister stated that UK-EU relations were definitely improving and acknowledged that the EU needed to be “extremely cautious and responsible” when making decisions to trade with the US given that the US had a surplus in services while Europe had a surplus in goods such as cars
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