‘Post-Brexit trade deal talks will go down to the wire’ – Fox

LIAM Fox has claimed talks to replicate EU trade agreements after Brexit will “go down to the wire”, amid concerns over a lack of progress.

The International Trade Secretary attempted to downplay fears in the Commons, insisting such an approach is the way countries do business.

But Labour highlighted a department risk assessment document and noted “precisely four” of the 40 agreements promised to be ready immediately after Brexit have been signed.

MPs heard the UK currently participates in about 40 free trade agreements (FTAs) with more than 70 countries due to its EU membership – which in 2018 constituted about 11% of UK trade.

Dr Fox added the best way to ensure agreements are rolled over is to secure a deal with the EU.

He said agreements have been signed with Switzerland, Chile and the Faroe Islands, along with an economic partnership agreement with Eastern and Southern Africa.

Dr Fox went on: “We have recently reached agreement with Israel and the Palestinian Authority and intend to sign those agreements shortly, and just today we have reached agreement on the UK-Pacific EPA (economic partnership agreement).

“We have also signed mutual recognition agreements with Australia and New Zealand, and will be closing two with the United States soon. A number of negotiations are at an advanced stage. As with all international negotiations, and indeed any negotiations, they will go down to the wire and I would expect nothing different on these agreements.

“That’s the way that countries do business.”

Dr Fox said countries covered by the 20 smallest agreements account for fewer than 0.8% of all the UK’s total trade.

He added the Government must ensure contingencies are in place if full agreements are not signed by exit day and if the UK and EU “unfortunately” have no deal.

But shadow international trade secretary Barry Gardiner said of progress to replicate the 40 EU trade agreements: “Nine are off-track, 19 significantly off-track, four are not possible to be completed by March 2019 and two are not even being negotiated.”

Mr Gardiner asked Dr Fox to set out in writing the objections