After Brexit: UK govt wants to know trade concerns with India
LONDON: A new Brexit-related department set up by the Theresa May government has invited feedback from the British companies about the concerns and barriers to trade and investment in India and six other countries as Britain prepares to do business post its exit from the European Union.
The Department for International Trade (DIT) headed by secretary Liam Fox – one of the leading Brexiteers before June 23 EU referendum – is planning to hold ‘joint economic and trade committee meetings’ with India by the end of this year.
“The aim of these meetings is to discuss bilateral trade and investment issues, and to strengthen the UK’s economic, industrial and commercial ties with these markets”, a DIT statement said.
The DIT is seeking insight and feedback from British companies on areas such as greatest concerns about doing business in and with India; how the concerns might be addressed; specific recommendations for bilateral initiatives that could improve the business climate; specific examples of good business practice in these markets and policies, which are working well; and what the DIT could do to encourage the businesses to think about exporting to the seven markets.
Besides India, the six countries under focus are Brazil, Colombia, Kazakhstan, South Korea, Taiwan and Vietnam. Besides the DIT, Prime Minister May has also set up the Department for Exiting the European Union, headed by secretary David Davis.
The two departments share roles related to Brexit with the foreign office, headed by secretary Boris Johnson.