Brussels, Belgium - 8 July 2024
Call for Action: Securing EU-UK Common Strategic Objectives
With the election of a new UK government and European Commission, the British Chamber of Commerce | EU & Belgium calls on EU and UK policymakers to work towards specific agreements in these three areas of common strategic interest.
The European Union (EU) and United Kingdom (UK) share common objectives on climate action, defence and the security of critical supply chains.
Whilst the Trade and Cooperation Agreement (TCA) sets out a framework for an EU-UK economic relationship, it does not provide sufficient support in these three critical areas.
The defence of Europe, achieving Net Zero by 2050 and securing critical supply chains to help safeguard our economic security and global competitiveness should be of utmost importance to both the UK government and the EU.
Defence Agreement
In view of the current geopolitical climate, the British Chamber of Commerce | EU & Belgium urges both EU and UK decision-makers to engage in urgent dialogue on EU-UK defence cooperation. Furthermore, decision-makers should ensure that every opportunity is considered to reduce cross border trade frictions and regulatory burdens that could result from diverging defence policy. As stated in the Chamber’s European Defence Industry Report, it is paramount that both the EU and the UK create a policy framework which enables their respective defence sectors to cooperate closely with each other.
Green Economy Partnership
The EU and the UK share common objectives on climate action and energy security, building on the commitments made at COP28 and the shared ambition to transition their economies to net zero greenhouse gas emissions by 2050. However, the TCA does not provide sufficient support for effective cooperation towards meeting net zero targets or the associated Green Industrial Transition. This is why the Chamber calls on the UK and the EU to engage in a Green Economy Partnership that will provide the framework for achieving the common strategic objectives.
Critical Supply Chain Cooperation
Rising protectionism in the current geopolitical environment and the aftermath of the Covid-19 pandemic have led to increased disruption in global supply chains, which in turn has led to increased European vulnerability. The tone of this debate has recently shifted towards “de-risking” as a way of ensuring Europe’s ambitions for increased resilience and European strategic autonomy. Facing common strategic challenges, the UK has also been focusing on developing its own policies to enhance its economic security. In this context, the British Chamber of Commerce | EU & Belgium calls for the EU and UK to engage in a partnership dialogue for “Critical Supply Chain resilience”. Such a partnership can allow crucial industries to collaborate on projects essential to our defence, security and the net zero transition, and develop new resilient supply chains for raw materials.
Elizabeth Crossick, Co-President of the British Chamber of Commerce EU & Belgium, comments,
“We believe that the EU and UK can rebuild a strong and constructive partnership. This will require mutual trust, commitment and cooperation, as well as recognition of our shared values and interests. We look forward to seeing a renewed engagement and a long-term vision for this vital relationship.”
For further information and/or comment, please contact:
Olivier Levy
Policy Communications Officer
+32 2 613 28 62