Wednesday, February 19, 2020

Tank Storage Association Cautious on EU's Approval of Brexit

November 26, 2018

Image: Tank Storage Association (TSA)

European Union (EU) leaders approved the agreement on the UK’s withdrawal and future relations with the EU.

Tank Storage Association (TSA) recognises that the agreement still needs to go through the UK Parliamentary process before it is approved, but cautiously welcome this positive progress.  

Tha association said that it is essential for TSA members to ensure access to as frictionless a border with the EU and the Rest of World (RoW) as possible following the 29th of March 2019. "We do not believe this is possible without a deal in place," it said.

If the UK Parliament approves the deal on the 12th December, there will be a significant amount of work required during the transition period to finalise the details of our trading relationship.  

"We have highlighted several areas with UK Government where detailed discussion and analysis is required. We also recognise that freedom to negotiate the UK’s own trade deals following BREXIT may introduce opportunities for business," it said.

TSA stated: "We seek to ensure a frictionless efficient movement of goods and services in and out of the UK, with zero tariffs (where appropriate) and no delays at the point of import / export."

It is critically important to work with industry to understand any unintended consequences of changes to trade arrangements and customs policy.  "To this end we stand ready to work with Government to ensure the very best outcome," the statement concluded.

The TSA represents the interests of 50 member companies engaged in the storage of bulk liquids and the provision of products and services to the sector.  Collectively members operate over 300 terminals and distribution hubs in the UK and have over 8.5 million cubic metres of storage capacity in the United Kingdom (UK) and Republic of Ireland (ROI).

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