The European Union (EU) has reportedly suggested that the United Kingdom, which exited the single market in 2021, join the Pan-Euro-Mediterranean Convention (established in 2012). The proposal was announced by Maroš Šefčovič, European Commissioner for Trade and Economic Security and lead negotiator for post-Brexit relations.
Such a move could reduce trade barriers, facilitate access to European markets, and lower costs for UK businesses. However, Minister Matthew Pennycook has indicated that the UK government's accession to the Convention is not currently a priority.
Source: touteleurope.eu