The Institute for Economic Affairs has described the report as a game changer.
The report cites Czechoslovakia as precedent where both the Czech Republic (or Czechia as the Czechs would like it to be known nowadays) and Slovakia inherited the treaty rights and obligations of Czechoslovakia following the velvet divorce.
International law is, in fact, quite clear on treaty law when states secede. It's even got its own Vienna Convention - the Vienna Convention on the Succession of States in respect of Treaties. The convention says that unless there is something written into a treaty that says a seceding state will no longer be party to the treaty, it inherits all its treaty rights and obligations. That includes treaties establishing free trade agreements.