It is essential to conclude a trade agreement between the EU and the UK. A ‘no-deal Brexit’, all the more so with the ongoing coronavirus pandemic, would in fact jeopardize market stability and directly affect Italian Food & Beverage exports. This according to Italy’s farmers association CIA-Agricoltori Italiani. The UK is the fourth largest market for Italian food exports and the third within the EU.
“The solution just reached on Northern Ireland gives us hope” – says the President of CIA, Dino Scanavino. “We must absolutely get out of this situation of uncertainty, risky both for businesses and common citizens.”
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ITALY’S F&B AND THE RISKS OF A NO-DEAL BREXIT
At the beginning of 2021, the United Kingdom will be out of EU’s single market and customs union. Without some kind of agreement on future trade relations, tariffs on goods will come back together with customs controls at the borders.
Italian food exports to the United Kingdom are worth 3.4 billion euros (Source: CIA-Agricoltori Italiani). Among the best-selling Italian products we find wine. It accounts for 24% of total exports across the Channel, equal to a turnover of over 830 million euros. Then come processed fruit and vegetables (13%), bakery and flour products (11%), dairy products (9%), and fresh fruit and vegetables (6%).