The UK continues informally exploring the option of foreign trade deals with non-EU partners for once the Brexit talks are completed, with officials reporting continued discussions with countries such as Canada and Switzerland. The United Kingdom formally triggered the Brexit process last week, with negotiations with the other 27 EU members soon set to begin in earnest. (See Bridges Weekly, 30 March 2017 , and related story, this edition) As an EU member, the United Kingdom has devolved its competencies for negotiating its own trade deals to the European Commission. However, once the UK has exited the bloc it will be able to negotiate agreements on its own behalf, prompting a series of informal discussions with potential future partners in preparation. Australia’s Ciobo: Trade deal could benefit services, investment Officials from the UK and Australia have already made known their interest in inking a bilateral trade deal when the former is no longer an EU member. Liam Fox, the UK’s Secretary of State for International Trade, met with his Australian and New Zealand counterparts last month, and has indicated that both countries would be at the front of the line for such arrangements. (See Bridges Weekly, 16 March 2017 )...
Theme: GLOBAL ECONOMIC GOVERNANCE
Tags: Regional Trade Agreements (RTAs), Brexit, Regional Trade Agreements (RTAs), United Kingdom