Here is Brexit, and there is finally an end to an issue that has been in the news for over four years.

In fact, on 12/24/2020 the agreement was found that regulates trade relations between the two blocs as of 1/1/2021. Over the course of these years, there has been much speculation on the subject, predicting doomsday scenarios that have not come true.

Changes:

The agreement reached between the parties, regulates several aspects in the relations, among the most important points we find :

(a) Free trade between the EU and the UK without any application of duty;

(b) Free movement of capital without some restrictions;

(c) End of free movement of people.

Basically nothing changes for the first two points; while there is a change for point C.

In fact, from January 1, 2021, those who want to travel to the UK to work or study will have to apply for a visa. In the case of a work visa, a point system has been introduced that takes into consideration several factors including : education, work experience, English language skills, job offer, and age.

What are now the prospects for the UK after Brexit? What strategies will be adopted to position itself as an autonomous entity in the international market?

To date, the UK has already concluded trade agreements that will take effect from 1/01 with 90 countries.

Data :

The table below shows, that for the year 2019 (latest available data), the UK exports 57 % to non-EU countries and 47 % to the EU itself, respectively. Opposite numbers for imports, in fact the European Union is the largest exporter to the UK. That is why the agreement between the two blocs was almost a foregone conclusion!

In light of the above data, leaving the European Union represents greater freedom of movement in terms of concluding free trade agreements.

The strategies in place, of the government led by Prime Minister Boris Johnson, are to legislate a series of measures aimed at, the attraction of foreign investor to the UK.

At the end of this whole process, there has been neither the collapse of the pound nor the total relocation to Continental Europe of the major global players present in London, to which cities such as Paris and Frankfurt had hoped to see.

The full text of the agreement with the European Union can be found at : http://www.gov.uk