Leaving the EU is an opportunity to reshape our economic destiny

We respect the will of the British people – in March 2019 the United Kingdom will leave the European Union.

We will leave the Customs Union and be free to negotiate the best trade deals around the world as an independent, open, trading nation.

We will leave the Single Market, because there was a vote for change on June 23, 2016 and that is what we will deliver. Between us, we have visited 30 countries over the last year, which account for billions of pounds in UK exports. Over the last year alone UK businesses have told us that we have assisted them to achieve exports valued at £41.6 billion.

These visits are a chance for us to show our trading partners around the world what we have to offer as a nation.

When we’ve left the Customs Union, we will build on these relationships by negotiating as an independent nation with the freedom to sign bilateral Free Trade Agreements.

The European Commission’s own research has found that, over the next two decades, 90% of global economic growth will occur outside the EU. Britain stands ready to capitalise on that opportunity. As we renew our relationship with the world, we want to retain a strong trading relationship with the EU through the “deep and special partnership” the Prime Minister spoke of in her Lancaster House speech earlier this year.

And we want our economy to remain strong and vibrant through this period of change. That means businesses need to have confidence that there will not be a cliff-edge when we leave the EU in just over twenty months’ time.

That is why we believe a timelimited interim period will be important to further our national interest and give business greater certainty – but it cannot be indefinite; it cannot be a back door to staying in the EU. And it must ensure a smooth and predictable pathway for businesses and citizens alike.

We are both clear that during this period the UK will be outside the Single Market and outside the Customs Union and will be a ‘third country’ not party to EU treaties.

But we are also clear that during this period our borders must continue to operate smoothly; goods bought on the internet must still cross borders; businesses must still be able to supply their customers across the EU and our innovative, world-leading companies must be able to hire the talent they need, including from within the EU.

Once the interim period is over, we want a permanent, treaty-based arrangement between the UK and the EU which supports the closest possible relationship with the European Union, retaining close ties of security, trade and commerce.

We have both served as Defence Secretary and both know how vital European defence supply chains are for Ministry of Defence procurement.

We will continue to work together with our European allies to minimise disruption. The exact arrangements for our future relationship with the EU will be determined by negotiation.

And as these negotiations progress through the summer and into the Autumn, everyone in government, no matter where they started out on this journey, is working towards the same goal: a smooth and effective exit from the EU which minimises disruption to business and citizens; which protects British jobs and British workers’ standard of living

The process of leaving the EU will not always be straightforward, but it represents an unprecedented opportunity to reshape our political and economic destiny. Let’s focus, laser-like, on that opportunity and deliver a Brexit that works for Britain.

‘UK businesses have told us that we have assisted them to achieve exports valued at £41.6billion’