The United Kingdom does not "currently have plans" to sign up to a pan-European trade agreement, as the country's EU Relations Minister Nick Thomas-Symonds ruled out joining the scheme.
The EU's new trade chief Maroš Šefčovič said on Wednesday he was open to the UK joining the Pan-Euro-Mediterranean Convention (PEM) as part of a post-Brexit "reset," but the UK has now ruled it out.
"We are always looking for ways to reduce barriers of trade, but within our manifesto red lines, because we take a pragmatic view as to where the national interest lies," said Thomas-Symonds in the House of Commons. "We do not currently have any plans to join PEM, and we are not going to provide a running commentary on every comment that is made."
The Pan-Euro-Mediterranean Convention (PEM) was originally agreed upon in 2012 and allows goods to flow tariff-free across borders. Members include the EU, as well as some North African countries, Switzerland, Norway, Georgia and Ukraine.
Some businesses have supported the UK joining the PEM, saying it could help their complex supply chains, cut red tape and improve trade. However, there will be "no return to the single market, the customs union or freedom of movement," according to Labour's manifesto.
