UK ‘happy’ to look at joining EU-Med trade pact: finance minister

LONDON: Finance minister Rachel Reeves said Sunday the UK government is “happy” to consider joining a pan-European and North African customs scheme, as part of its much-touted reset of EU ties.

Her comments follow the European Union’s trade commissioner Maros Sefcovic telling the BBC earlier this week that Brussels “could consider” admitting the UK to the Pan-Euro-Mediterranean Convention (PEM).

The arrangement allows for tariff-free trade of some goods across Europe and North Africa and is separate from the EU customs union, which the UK left in 2020 as part of its Brexit divorce.

The new Labour government – which took power last July – has ruled out rejoining the EU’s single market or customs union and sent mixed messages in response to Sefcovic’s apparent invitation.

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Two ministers said Thursday that London was not currently seeking to join the PEM, while Prime Minister Keir Starmer’s spokesman refused to commit either way.

However, in an interview with Sky News on Sunday, Reeves suggested the government was open to exploring the option.

“It was really interesting to see Maros Sefcovic this week suggest the UK might be welcome in that pan-European and Mediterranean customs framework,” she said.

“We are absolutely happy to look at these different proposals because we know that the deal that the previous government secured is not working well enough.”

Referring to the previous Conservative administration which delivered Brexit, Reeves added: “We’re grown-ups who admit that, whereas the previous government said there were no problems at all.

“And where there are constructive ideas we are happy to look at those, as long as they’re consistent with the red lines we set out in our manifesto.”