Thai businesses should study Brexit deal to manage trade risks: DTN

 

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NONTHABURI, 26 March 2018 (NNT) – The Department of Trade Negotiations (DTN) has warned Thai businesses to thoroughly study post-Brexit trade rules between the UK and EU taking effect on March 30th, 2019 to work out on risk management in advance. 

The DTN Director-General Auramon Supthaweethum said the department has made suggestions to Thai businesses to study the new customs and taxation guidelines from the European Union's Taxation and Customs Union which will take effect from March 30th, 2019 following the withdrawal of the United Kingdom from the EU. 

The new guideline will change the status of the UK as a third country, which will affect import and export protocols between the EU and the UK, as well as other changes in protocols. 

Thai businesses should be aware of these changes to prepare themselves and to properly manage potential risks. 

The new implementation of the new guidelines may be delayed to January 2021 should the UK and the EU could settle a deal with each other. 

The UK is currently the second biggest European trade partner with Thailand, with the total trade value of about 7 billion US dollar.

 

-- nnt 2018-03-26

 

"Plan Ahead", an alien concept to Thais I think.

7 hours ago, webfact said:

Thai businesses should be aware of these changes to prepare themselves and to properly manage potential risks. 

Brexit never had Article 44.

No planning needed.

Study ?.   Nope, ain’t happening 

This is one of the most complex issues in Europe, and the UK/EU are still miles off agreeing what the rules will be.