United Kingdom and the European Union have finalized a post-Brexit trade deal that would wipe out duties on goods passing between the two regions. As per Apparel Resources, the new trade deal will wipe out duties on all the businesses including apparels and textiles. The terms are expected to be kicked in as of 1 January 2021.

The deal is expected to secure £7.4 billion worth of apparels and textiles exported annually to EU from the UK, securing thousands of jobs as well. Before the deal was signed, WTO rules caused a range of single- and double-digit tariffs on the UK exports which ranges from food to fashion products.

The EU is the largest trading partner of the UK and there was a 12 per cent duty levied on the clothing exports from the UK to the EU, while an 8 per cent duty was there on footwear export.

Nigel Lugg, Chairman, UK Fashion and Textile Association (UKFT), said, while we need to see the detail of the deal to fully understand the implications, UKFT will be working with its members to help the industry maintain and grow its exports to the EU and the rest of the world.