Liam Fox has revealed he has opened discussions with a number of countries regarding trade deals
Theresa May has signed a letter to EU leaders officially triggering Article 50 and will pledge to fight a “fierce” battle to win the best Brexit deal for everyone in Britain.
The closely guarded letter formally notifying the EU of our intention to leave. The letter also outlines the Government’s Brexit principles which will be handed in person to European Council president Donald Tusk by the UK’s ambassador to the EU, Sir Tim Barrow.
May will call on Britons to put their Brexit disagreements behind them and join forces on the “momentous journey” to freedom from the Brussels bloc.
Liam Fox, Secretary of State for International Trade, has already started economic negotiations with a number of countries around the world.
Top 10 countries that want to trade with UK after Brexit Thu, February 16, 2017
These are the top 10 trade partner prospects for the UK moving forward
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Some of the nations Britain has reportedly opened trade talks with include India, South Korea, Turkey, Norway, New Zealand, India, China, Israel, Australia, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.
Israeli Prime Minister Benjamin, speaking earlier this month, said: "We are enhancing our cooperation in economics, in technology, in security, in cooperation in the field of cyber, in many, many other areas.
We also seek a world that's secure and peaceful, and I look forward to discussing both of these things with the UK
“We also seek a world that's secure and peaceful, and I look forward to discussing both of these things with the UK.”
To begin with the UK will likely inherit the same deal the EU has with the rest of the world, and adapt it accordingly.
New Zealand prime minister Bill English, speaking in January, said: "We are ready to negotiate a high quality free trade agreement with the UK when it's in a position to do so.”
The government ruled out staying in the single market because it is intent on reducing and controlling immigration and being in the single market involves accepting the free movement of people.
Israel are one of the countries the UK will be hoping to sort out a trade deal with
If the UK were to stay inside the customs union, it would not be able to negotiate its own trade deals.
Australian trade minister Steven Ciobo and Liam Fox said in September: "Both of us want a future free trade deal to generate new trade and investment opportunities.
New Zealand have spoken very favourably about a trade deal
“We will prioritise consultation and outreach to our respective stakeholders to seek their input to the work of the working group.”
The UK could steal a march on the EU and seal a favourable deal with China, a nation the bloc have been unable to reach an agreement with.
Chancellor Philip Hammond said in November 2016: “The mutual benefits are clear. China is the world's second largest economy; UK exports to China have grown rapidly and Britain is home to more Chinese investment than any other European country.”