Four years, six months and nine days after the UK voted to leave the European Union, the country finally, practically speaking, left the single market. A transition period that had treated the departing nation as if it was still a member state lapsed on December 31.

Sine then, trading between UK and EU entities has been impeded by the lack of so-called equivalence determinations, through which the EU recognises the UK regulatory regime for various rules. That has led to restrictions being