Trade minister Greg Hands: UK using Brexit to “spread the word” about liberalising global trade in services
The UK is using Brexit as an opportunity to push for the global liberalisation of trade in services, trade minister Greg Hands has said.
Speaking at a private event hosted by law firm DWF this morning, Hands sought to reassure financial and legal firms on Brexit and the government’s work to secure greater trade opportunities for the City.
The minister, who works under Liam Fox, said the team was making “strong progress” towards rolling over existing agreements between the EU and third countries. Already Norway and Canada have said they are minded to do this.
Hands added that the government was “laying the groundwork” for future deals, which can be negotiated and agreed once the UK enters transition next March.
But on top of that, Hands said the government was using Brexit as an opportunity to “spread the word worldwide” about liberalising trade in services, which has “historically resisted liberalisation much more than trade in goods”.
“Trade policy post-Brexit will be about much more than individual trade deals,” he said. “It will also be about Britain becoming a voice for free trade, at the World Trade Organisation and other international fora.”
Hands added: “The IMF estimated that we were the world’s fifth largest economy at the end of last year, and in today’s world, where there’s so many forces in favour of protectionism, it is to everyone’s benefit to have a nation of Britain’s stature making the case for free trade.”