AROUND THE WORLD

Two years have passed since Britain left the European Union, but according to the British Chambers of Commerce (BCC) more than half of the firms affected are struggling to adapt to new trade rules, and 77% find it is not helping them increase sales.

“Brexit has been the biggest ever imposition of bureaucracy on business,” one manufacturer told the organization.

The Government aimed to sign deals covering 80% of its trade with the rest of the world by the end of 2022, but agreed only around 63%. It has not yet finalised deals with the US and India, and has rolled over 71 agreements that it had while in the EU. Britain has signed only four new trade deals since Brexit –with Australia, New Zealand, Japan and Singapore.

The BCC says five main trade areas need to be addressed quickly, including eliminating or reducing the complexity of exporting food for small and medium-sized enterprises.

EU Carbon Border Tax Raises Trade Questions

The EU has agreed what will be the world’s first carbon border tax, but questions have been raised about whether it could lead to a breach of

World Trade Organization (WTO) rules. The Carbon Border Adjustment Mechanism (CBAM) means that companies in the EU that import goods produced outside the EU will have to buy CBAM certificates to cover the emissions generated in the production of those goods.

The EU’s trading partners have labelled the CBAM protectionist. And the CBAM could break WTO rules if it runs alongside current EU emissions trading systems (ETS) rules, which give EU companies in some sectors with hard-to-abate emissions a number of free ETS allowances.

Between 12 December and 20 January, a four-man team of soldiers from The Scots Guards took part in the Talisker Whisky Atlantic challenge, the world’s toughest rowing race, to commemorate the 40th Anniversary of the Falklands Conflict and raise funds for charity.

The team has raised over £35,000 so far, which will be shared 50/50 between ABF The Soldiers' Charity and The Scots Guards Charity. The final figure will be confirmed at a later date.

On 12 December, the four Atlantic Guardsmen started their voyage from La Gomera, Canary Islands and rowed more than 3000 miles to the finish line at Nelson’s Dockyard, English

Harbour, Antigua & Barbuda, which they reached on 20 January. Competing with other teams across the globe, the team included Max Lawrence, William Botes, James Tate and Roland Walker. During their incredible voyage, the team tested their physical and mental resilience to the limit, battling 30ft waves, enduring cramped quarters, sleep deprivation and sheer exhaustion. At one point over the Christmas period the team lost some of their oars in the ocean but they battled on in high spirits.

The team has a very special connection to the Falklands Conflict. Max’s father was injured during the Battle for Mount Tumbledown.

Learn more here.