Britain’s £40 Billion-a-Year Untapped Trade Potential

Britain’s untapped trade potential will comfortably offset any effects of Brexit on exports to the EU, new research by the think tank Open Europe has found. Their new report in conjunction with Prosperity UK has located £41 billion-a-year of under-performing non-EU export markets. Remarkably, Britain is currently on track to under trade with India, Canada and Israel by £10 billion-a-year…

Membership of the EU has stopped the UK trading freely with faster-growing non-EU countries, though the report argues we should not focus solely on Free Trade Agreements, instead seeking bilateral investment treaties and targeted agreements to address particular trade issues. It argues for greater engagement with India, Canada, Israel and China prioritising UK service exports. These are practical, sensible solutions to make Brexit work from Open Europe’s director Henry Newman, who says:

“With the right trade policy, the UK can seize the opportunities that Brexit will create, while compensating for its impact on exports to the EU… whatever Government is formed after 9 June, it should prioritise trade with India, Canada, and Israel, and – in the case of services – China. The UK needs a trade policy to fit the future and by 2030, our model indicates, the UK will have £41 billion of untapped trade potential with the top ten countries for goods and services.”

The parlous state of Britain’s exports was immediately identified by Theresa May’s government when they took office. Liam Fox, far from twiddling his thumbs as some tiresome Remainers would have you believe, has spent most of his time at DIT trying to get exports up to shape. There is a lot of work to be done but this will be key post-Brexit…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

President Trump on May’s Brexit deal:

“I would say that Brexit is Brexit. … The people voted to break it up. So I would imagine that’s what they’ll do. But maybe they’ll take a different route, I’m not sure that’s what they voted for.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Tory MP Puts Letter In to Brady Tory MP Puts Letter In to Brady
Lord Carrington Lord Carrington
Poll: May’s Deal or No Deal? Poll: May’s Deal or No Deal?
Tories Will Lose Votes if They Cross Brexit Red Lines Tories Will Lose Votes if They Cross Brexit Red Lines
Remain Used Same Spending Tactics as Leave But Far Worse Remain Used Same Spending Tactics as Leave But Far Worse
MEPs Vote to Reject Transparency MEPs Vote to Reject Transparency
Cabinet Brexiters Silent as Robbins Rubs Out Red Lines Cabinet Brexiters Silent as Robbins Rubs Out Red Lines
Cadwalladr and Collins to Share Platform at Byline Festival Cadwalladr and Collins to Share Platform at Byline Festival
$35 Billion Defence Deal #DespiteBrexit $35 Billion Defence Deal #DespiteBrexit
Fox First to Fly England Flag Fox First to Fly England Flag
Brexit Derby Day Brexit Derby Day
Brexit Drama Cast List Brexit Drama Cast List
Soubry / Broxtowe Latest Soubry / Broxtowe Latest
Riot Convicted Bastani on “Public Nuisance” Riot Convicted Bastani on “Public Nuisance”
May Considers Asking to Stay in Single Market for Goods May Considers Asking to Stay in Single Market for Goods
Smith Must Hold Firm Against Grieve Smith Must Hold Firm Against Grieve
Eurotunnel: Don’t Buy Border Scaremongering Eurotunnel: Don’t Buy Border Scaremongering
Shouty Cracker Lord Moat’s Mask Slips Shouty Cracker Lord Moat’s Mask Slips
How Dominic Cummings Cost Taxpayers £20 Billion How Dominic Cummings Cost Taxpayers £20 Billion