| Author (Corporate) | BBC |
|---|---|
| Series Title | BBC News |
| Series Details | 04.09.16 |
| Publication Date | 04/09/2016 |
| Content Type | News |
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United Kingdom Prime Minister Theresa May set out her ambition for the UK to become the global leader in free trade when she attended the G20 Summit in Hangzhou, China, 4-5 September 2016. The Prime Minister also started exploratory talks with a number of countries around the world to enable the UK to forge its own new trade deals once it had left the EU. However, the challenges ahead for the United Kingdom came in the responses of the leaders of other G20 countries. In particular, US President Obama said the US would prioritise trade negotiations with the EU and Pacific nations over a UK deal. In addition, in an officially published briefing from the Ministry of Foreign Affairs the Japanese government said that 'It is of great importance that the UK and the EU maintain market integrity and remain attractive destinations for businesses where free trade, unfettered investment and smooth financial transactions are ensured ... In light of the fact that a number of Japanese businesses, invited by the government in some cases, have invested actively to the UK, which was seen to be a gateway to Europe... we strongly request that the UK will consider this fact seriously and respond in a responsible manner to minimise any harmful effects on these businesses'. 'What Japanese businesses in Europe most wish to avoid is the situation in which they are unable to discern clearly the way the negotiations are going, only grasping the whole picture at the last minute. It is imperative that the outcome is free of unpleasant surprises and reducing the risks emanating from uncertainty'. The Australian Trade Minister Stephen Ciobo stressed while on a visit to the UK in September 2016 that while preliminary Australia-UK talks will take places, formal negotiations for a free trade deal cannot take place until the UK has left the EU, and that Australia would prioritise securing an Australia-EU free trade agreement. |
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| Source Link | Link to Main Source http://www.bbc.co.uk/news/uk-politics-37269916 |
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| Subject Categories | Internal Markets, Trade |
| Countries / Regions | United Kingdom |
