The Common Transit Convention reduces the need for additional customs checks on goods passing through a country en route to their final destination ANDREW MATTHEWS/PAThe UK’s decision to remain in the Common Transit Convention even in a no-deal Brexit scenario is a significant boost to Irish exporters, a leading business body has said. The convention reduces the need for additional customs checks on goods passing through a country en route to their final destination. The CTC covers the European Union, European Free Trade Association states Iceland, Norway, Liechtenstein and Switzerland, as well as Turkey, Macedonia and Serbia. The key advantage for Irish business, north and south, is that exports to the continent can pass through the UK to their final destination with reduced customs checks and controls. This means cashflow and supply chain benefits for traders as customs checks and charges are only carried out when goods reach their…

Source: The Times December 19, 2018 00:00 UTC