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23 June, 2019 00:00 00 AM
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BoE chief dismisses claim on ‘standstill’ Brexit trade

AFP, London

Bank of England Governor Mark Carney on Friday dismissed Boris Johnson’s claims that there would be a “standstill” trade arrangement, in the event of a no-deal Brexit.

Johnson, who is leading the race to become Britain’s next prime minister, had argued this week that current arrangements would continue after Brexit, citing the General Agreement on Tariffs and Trade (GATT) article 24 of the World Trade Organisation treaty.

“There will be no tariffs, there will be no quotas because what we want to do is to get a standstill in our current arrangements under GATT 24, or whatever it happens to be, until such a time as we have negotiated” a free trade agreement, Johnson had said in a televised debate on Tuesday.

However, Carney flatly denied that this would be the case in an interview with BBC Radio 4 on Friday.

“The GATT rules are clear. GATT applies if you have an agreement, not if you have decided not to have an agreement or have been unable to come to an agreement,” Carney said.

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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