24th June, 2016
The UK’s EU exit
The people of the United Kingdom have voted to leave the European Union.
The UK finds itself in an unprecedented situation: no country the size of the UK or with its economic weight has ever left the EU.
It is impossible to predict exactly what will happen over the coming days and months, and what this means for the duty-free and travel retail channels. There are clearly very specific issues surrounding duty free and travel retail which we need to explore fully with both the UK and EU governments in the coming months. We are also acutely aware of the difficulties that Brexit presents to the UK and EU aviation industry which will need to be addressed as soon as possible.
Article 50 of the Lisbon Treaty sets out the procedural requirements. To start the exit negotiation process, the UK Government must notify the European Council of its intention to leave. The exit negotiations need to be concluded within two years. At this point the UK’s EU membership ends automatically, unless the European Council agrees unanimously with the UK to extend the negotiating mandate.
Over the next weeks and months UKTRF will be working with the European Travel Retail Confederation (ETRC) to secure the best possible outcome for the businesses it represents, and to seek clarity as early as possible.