Liam Fox urges public to have their say on trade deals after Brexit
International Trade Secretary Liam Fox was in Birmingham today calling on people to have their say on what kind of trade deals they want to see after Brexit.
An online consultation is being launched today on the UK’s future trading relationships with the USA, Australia and New Zealand, giving people three weeks too have their say.
As the Tory Party meets for its annual conference in Birmingham, Dr Fox was speaking at a townhall meeting in the city with Midlands businesses about what they want from future trade deals after Brexit. He also urged people across the UK to take part in the four online consultations.
Dr Fox said: “For the first time in over 40 years we will be able to determine the terms of our trade. That means new trade agreements with our key partners, as well as putting the UK at the heart of the world’s fastest growing regions such as Asia.
“The US, Australia, New Zealand and countries around the Pacific buy a sixth of all the goods the West Midlands produces and new trade agreements will create even more opportunities for established exporters as well as those looking to go global for the first time.
“We are committed to forging new trading relationships that create jobs, boost our vital industries and benefit consumers across the whole of the UK. I urge everyone to seize the opportunity to take part in the consultations and make their voices heard.”
The consultations focus on new free trade agreements with the USA, Australia and New Zealand, as well as the UK potentially joining to the Comprehensive and Progressive Trans Pacific Partnership (CPTPP), which also includes Canada, Chile, Japan, Malaysia, Singapore, Mexico and Peru.
Exports of goods to the USA, Australia, New Zealand and the Trans Pacific Partnership countries were worth £12.7 billion for the West Midlands last year. More than £1 in every £6 of the region’s goods exports went to countries covered by these trading relationship.
Securing free trade agreements with these countries will be crucial if the UK is to meet government targets of increasing exports.
Members of the public can submit their views as part of four online consultations which are open until October 26 and last for a total of 14 weeks.
Paul Faulkner, chief executive of Greater Birmingham Chambers of Commerce, added: “Liam Fox’s commitment today is a welcome move that we hope marks the start of serious progress to help exporting businesses in the West Midlands to find new markets after Brexit.
“The possibility of free trade agreements with USA, Australia and New Zealand would offer a huge incentive for West Midlands firms to create business there and we will look seriously at following this up by arranging trade missions to these countries.”
Karl Edge, Midlands regional chairman at accountancy giant KPMG which was hosting today's meeting, said: “Businesses in the West Midlands have a growing appetite for international trade and we’re certainly seeing this with a number of our clients. Having an overseas strategy makes sense for any business looking for growth, which is why it’s crucial for local businesses to build on this momentum and make the most of the opportunities that trading internationally presents.
“With the strengths we have across the region, particularly in sectors like automotive and manufacturing, there’s huge potential for the Midlands to expand its international footprint and compete on the global stage.”
