A set of new advisory groups have been established to help advise the Government about how best to find the best deals when the UK is entirely free from the shackles of the EU. The groups will vary from specialists in life sciences, investment and financial services. The information given by the experts and organisations will encourage UK officials throughout Brexit talks moving forward to be able to usher in an age of potential prosperity for the UK.
International Trade Secretary has insisted she wants the Government to be able to secure deals that will be helpful for every sector within the UK market.
Ms Truss said: “This is all about bringing business closer to the table and using their experience to help secure the best possible deals that provide jobs and growth throughout Britain.”
“Talks with Japan, the United States, Australia and New Zealand are entering their key latter stages, so it’s only correct that we step up engagement with crucial businesses to utilise their technical and strategic expertise.”
“I need a company in Britain to feel engaged and informed about the work we’re doing to build an independent trade policy and how it impacts them.”
“As we all recover from coronavirus we would like to strike deals that benefit every part of the nation so we can build back better and deliver a fairer country for everybody.”
Since Britain continues trade discussions with Japan, New Zealand and Australia, the specialists will prove crucial for the UK.
Although Brexit talks with the EU have so far failed to come to an arrangement, discussions with Japan are set to continue together with both sides optimistic about a deal in the coming weeks.
Miles Celic, chief executive officer of financial services group TheCityUK Said:
“For related and financial professional services, a focus in these deals on enhancing liberalisation of trade in services will be crucial.”
“It might also further strengthen the UK’s world-leading position as an international trading hub and maximum international financial centre.”
“I’m really pleased to join two of the new trade advisory groups – nearer consultation with industry will help develop our national ambitions and priorities and ultimately better service UK economic recovery in the aftermath of COVID-19.”
With these specialists offering advice to UK officials, Britain may be able to break any upcoming trade deadlocks -.
Presently, if the UK doesn’t agree with any trade agreements before the turn of this year, Britain might need to trade on WTO terms.
WTO regulations offer a floor for trade but may not provide the advantages of a free trade arrangement.
Brexit talks have continued to battle between the united kingdom and EU while discussions with Japan and New Zealand continue to make progress.
The two sides concluded the newest round of negotiations with both indicating a no-deal Brexit could now be possible.
The EU has signalled a deal by October would give it time to be ratified by the 27 member countries.
In a statement, the chief negotiator of the UK, David Frost claimed the EU had been difficult to negotiate with to generate progress.
He said: “Too frequently it felt like we were moving backwards over forwards.”
“Given the brief time, what I said in London in July stays accurate, now at this stage, an agreement between the UK and EU seems improbable.”