BRITAIN LINES UP EU EXIT TRADE BONANZA
A DOZEN countries have already begun trade talks with Britain in a further boost for the Brexit boom.
With the UK due to throw off the shackles of the EU in just two years, major economies like China, Japan, Australia, New Zealand and India are keen to have trade deals in place when Brexit is concluded.
The revelation by International Trade Secretary Liam Fox has added to the growing sense of optimism that has sprung from Theresa May’s speech earlier this week when she confirmed that Britain will also leave the single market.
Although bilateral trade talks cannot officially take place until Britain leaves, “unofficial” discussions over deals have already begun.
Further talks are due to open with the new US President Donald Trump’s administration which has put Britain at the “front of the queue” for a trade deal and relegated the failing EU to the back.
Dr Fox said the UK would champion free trade in a world where decades of progress to open up markets was under threat.
He said: “Trade ministers have visited 55 countries, promoting UK exports of goods and services and encouraging investment.
“Since the referendum, more than £16billion has been invested in the UK from overseas; a clear vote of confidence.
“At the same time, we are exploiting new trade opportunities and discussing the possible shape of new agreements once we have left the EU.
“While we remain members we will fulfil our current commitment to push forward trade deals with Japan and Canada, and support international agreements on services and environmental goods.
“But when we leave we will want to develop new arrangements with countries such as Australia, New Zealand and India.
“We are conducting trade audits with a number of countries to see how we can remove barriers to trade and investment to our mutual benefit.”
Mrs May has said the UK will leave the single market and has ruled out retaining full membership of the customs union.
Ministers hope it will give the country the freedom to secure trade deals.
Dr Fox said: “Since joining the EU, trade as a percentage of GDP has stagnated in the UK.
“That is why it is time for Britain to get out into the world and rediscover its role as a great, global, trading nation.
“Dozens of countries are preparing to expand their trading links to the UK.
“As the Foreign Secretary discovered when he visited the United States, the UK is no longer ‘at the back of the queue’ with our largest single trading partner.
“This Government will never compromise on the prosperity of the UK. We see that Brexit is not a threat to that prosperity, but the key.”
LIAM FOX is certainly getting stuck in. The International Trade Secretary, whose department was created only in July, has revealed that a dozen countries are already preparing to expand their trading links with the UK. Efforts to build new business connections with the rest of the world will be boosted further this afternoon with the inauguration of President Trump who has made no secret of his affection for this country.
This is precisely what Theresa May meant when she said on Tuesday that she wanted Britain to embrace a global future.
After decades trapped within the EU and its protectionist approach to trade, Brexit will at last give us the chance to build new relationships. We will also be able to make the most of our historic ties with Commonwealth nations such as Australia, India and New Zealand.
Eurocrats have made clear that until we finally leave the bloc – currently expected to happen in 2019 – we will not be able to sign new trade deals. Until then though Dr Fox is doing precisely the right thing.
And he has been ably supported by Foreign Secretary Boris Johnson and the Prime Minister, whose pledge to make Britain a leader in free trade can usher in a new era of prosperity not just for us but for our many trading partners.
There is nothing Brussels can do to prevent our ministers and officials from liaising with their counterparts in other countries and laying the groundwork for free trade agreements.
What a powerful message it would send to the world if, in the days after Brexit, Theresa May were to sit down and sign a whole raft of new deals.