| Author (Corporate) | Council of the European Union, European Parliament |
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| Series Title | Official Journal of the European Union |
| Series Details | L 38 |
| Publication Date | 08/02/2019 |
| Content Type | Legislation |
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Summary: Regulation of the European Parliament and of the Council of 30 January 2019 setting out the methodology for the apportionment of WTO tariff rate quotas in the light of the United Kingdom's withdrawal from the Union. Further information: The withdrawal of the United Kingdom from the European Union has implications beyond the bilateral relationship between the EU and the UK, in particular with regard to their World Trade Organization (WTO) commitments. As far as the EU is concerned, its scheduled commitments for goods remain applicable to its territory, but the EU's existing quantitative commitments, notably the Tariff Rate Quotas (TRQs), require certain adjustments to reflect the UK's withdrawal from the EU. In October 2017, the EU and the UK informed WTO members in a joint letter of their approach for apportioning the existing EU tariff quotas and began informal talks with partners. The proposed approach would provide for an apportionment based on an objective methodology reflecting existing levels of market access and trade flows under each TRQ. In May 2018 the European Commission adopted a proposal for a Regulation on the apportionment of tariff rate quotas, which would allow for the Union to unilaterally conduct the apportionment in case of an absence of agreement with individual WTO members on the matter. The launch of negotiations between the European Union and individual WTO members was subject to a Recommendation adopted in parallel to this proposal. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/reg/2019/216/oj |
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| Subject Categories | Trade |
| Subject Tags | Brexit, External Trade | Trade Agreements |
| Keywords | General Agreement on Tariffs and Trade [GATT] |
| Countries / Regions | United Kingdom |
| International Organisations | European Union [EU], World Trade Organisation [WTO] |
