Trade policy

摘要

The UK is a member of the World Trade Organisation (WTO) and the OECD. The UK left the EU on January 31st 2020, after a national referendum in 2016 yielded a decision to exit the bloc. Under a transition period expected to last until the end of 2020, the UK retains most aspects of EU membership, including participation in the EU single market and customs union. Companies operating in the UK have had access to a tariff-free market of some 500m consumers as a result of the country's EU membership as well as free trade with Iceland, Liechtenstein, Norway and Switzerland via other agreements. Since its accession to the EU, the UK has increased trade with its European partners, whereas commerce with North America and the Commonwealth countries has fallen as a proportion of the total.