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UK Economics

Liam Fox to get Britain back into the World Trade Organisation

LIAM FOX will this week set out his vision for Britain’s future as a leading free trade nation in a bid to reclaim the UK’s seat at the World Trade Organisation.

Liam FoxGETTY

Liam Fox is poised to get the UK back into the World Trade Organisation this week


The International Trade Secretary will address the global body in Geneva on Tuesday where he will set out Britain’s stall as the country the world wants to do business with.

I expect we would be among a group of like-minded countries that might be first to do such a deal as soon as the UK was in a position to do so

Todd McClay

The UK is still a member of the WTO but sacrificed its independent seat when it joined the European Economic Community in 1973 and subsequently became represented by the European Union in external trade negotiations.The move comes as New Zealand and Singapore expressed their ambitions to secure a new trade deal with the UK.

WTO conferenceGETTY

Liam Fox will present Britain to the WTO as the country the world wants to do business with


New Zealand trade minister Todd McClay said: “I have signalled to UK ministers that New Zealand wishes to negotiate a mutually beneficial high-quality trade deal with the UK.“I expect we would be among a group of like-minded countries that might be first to do such a deal as soon as the UK was in a position to do so.”

A Trade Ministry spokesman in Singapore said it also looked forward to holding discussions with the UK about a bilateral trade deal.

“The UK is a key economic partner to Singapore and Singapore is the UK’s largest trading partner in the Association of South East Asian Nations,” he said.

 Todd McClayGETTY

New Zealand trade minister Todd McClay said the country wishes to negotiate a trade deal with the UK


“Singapore hopes that the UK will remain plugged into the global economy and maintain the course of free and open trade.”Dr Fox has said he wants Britain to be a “global champion of free trade” while still maintaining a trading relationship with the rest of Europe.

EU made UK lose its seat in WTOGETTY

The UK lost its seat in the WTO after it joined the EU


He said: “We’ll be making it very clear that we want the European Union to succeed – we don’t want to be governed by the EU but we want it to be a strong partner for us – but that we see a future in the rest of the world.“There are emerging markets out there, there are maturing markets out there and we want to be absolutely at the forefront of the charge when it comes to getting access to those markets.”

http://www.express.co.uk/news/uk/714058/Liam-Fox-launch-bid-UK-re-enter-World-Trade-Organisation-Todd-McClay-free-trade-nation

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