(MENAFN- Kuwait News Agency (KUNA)) LONDON, Aug 28 (KUNA) -- The United Kingdom and the European Union signed an agreement to reduce pressure on food prices for supermarket shoppers, the Ministry of Exchequer said Thursday.
Working families in the North West will benefit from a new UK-EU Sanitary and Phytosanitary (SPS) Agreement, which will slash red tape and costs for food businesses, helping them to keep the cost of weekly shop down and create more choice at the checkout, according to a statement from the Ministry.
The agreement will get rid of the majority of border checks on meat, fish, fruit and veg imported from the EU, meaning businesses can slash costs and help keep the price of a weekly shop down - leaving more hard-earned money in people's pockets.
Economic Secretary to the Treasury, Emma Reynolds yesterday visited Lidl GB's Runcorn distribution centre for a behind-the-scenes look at how products reach shelves across the UK.
"Our trade deal with the EU will deliver for families and businesses across the North West with lower food import costs and reduced red tape, while Lidl GB's investment shows that international companies are backing Britain and our mission to drive growth across every region," she said.
"The agreement will kickstart economic growth, and could add GBP 5.1 billion annually to the UK economy, with North West food businesses and consumers set to reap significant gains.
"Small and medium-sized food businesses across the region will particularly benefit from the removal of Export Health Certificates, saving businesses up to GBP 200 each time goods are sent, meaning a single lorry carrying a mixed load of agrifood products reducing pressure on food prices for shoppers," Reynolds pointed out.
The Economic Secretary will also welcome Lidl GB's announcement of a GBP 435 million investment in upgrading its warehouses in Leeds and London, which will create over 500 new jobs and strengthen Lidl GB's capacity to supply affordable, quality food across the country.
The government is delivering a long-term strategic partnership with the EU that brings practical benefit for working people.
The SPS agreement negotiations are a clear example of how the government will use this partnership to boost growth and support working families and ensures the UK remains a trusted, reliable partner for international business investment, the statement noted. (end)
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