POST Online Media Lite Edition


British trade secretary embraces free trade system after Brexit

Staff Writer |
Britain's International Trade Secretary Liam Fox voiced continuing support for free trade and the rules-based global trading system, as the country prepares to leave the European Union (EU).

Article continues below

"The principles of free and open trade have underpinned the multilateral institutions, rules and alliances that helped rebuild post-war Europe and the world beyond," Fox said in a speech at the American Enterprise Institute, a think tank based in Washington D.C.

"We must lead by example, and work to encourage our trading partners across the world to support, and adhere to, the rules-based global trading system," he said, vowing to "build a truly global Britain" in the post-Brexit era.

While the World Trade Organization (WTO) needs "some refurbishment", "that does not mean that we should abandon its principles and processes," Liam said.

Fox arrived in Washington D.C. on Monday for the first meeting of the U.S.-UK Trade and Investment Working Group, aiming to strengthen bilateral relationship with the United States as Britain is leaving the EU.

"As a priority, the working group will seek to provide stability, certainty and confidence for businesses on both sides of the Atlantic. Indeed, the first discussions will focus on providing commercial continuity as the UK leaves the EU," he said.

Fox noted that the working group would also "provide a springboard", and lay the groundwork for a comprehensive free trade agreement between Britain and the United States.

What to read next

New Zealand establishes trade policy dialogue with UK
EU to exclude financial services from post-Brexit deal
Gulf Arab states want free trade deal with UK after Brexit