The prime minister has said he believes there is a “win-win” deal to be had with the EU.
Speaking at a Marks & Spencer food court in central London, Falconer said the deal would help bring down costs for firms importing food.
“This will mean less cost for supermarkets, and I hope that less cost then turns into cheaper produce on the shelves,” he said.
He said currently “pages and pages” of form-filling meant some suppliers had given up exporting to the EU and some products, such as Lincolnshire sausages, meant they were almost impossible to export at all.
Some M&S trucks require over 300 pages of documents for food exports, from export health certificates, phytosanitary certificates, visits from vets and border check paperwork.
Some exports are rejected for having the wrong colour of ink on forms, or an inaccurate Latin name for cooked meats.
“The amount of paperwork you would need to do, the amount of uncertainty – you have to have it in the right pen colour, if it’s not black, it might be refused,” Falconer said.
“If you’re selling Cox apples from Kent, they have to wait a day before they go into the European Union.”
The reset could also mean “tearing up” checks that were introduced on goods flowing from Great Britain to Northern Ireland, following Brexit, he said, as well as separate “Not for EU” labelling.
Falconer said the impact of the reset deal for food would be an additional £5bn.
The whole deal to be signed on Friday is calculated to add 0.4% to UK GDP.
This wider agreement includes aligning emissions trading rules, and agreeing to a youth mobility scheme, as well as the reset on food trading.
