Brexit: UK 'may need a big row with EU' says Hoey
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After agreeing to deals with Australia and Japan, Ms Truss is now nearing yet another deal in the Asia-Pacific region, insiders have claimed. The Trade Secretary is now locked in final talks on a £2.3billion trade deal to ditch tariffs and increase business ties with the Commonwealth state. Once agreed, Brits will be able to enjoy cut prices on products such as wine and fruit.
As reported by The Sun, the deal is expected to be agreed upon “imminently”.
The deal will also be the next step in the UK’s path to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The CPTPP includes countries such as Australia, Brunei, Canada, Chile, Japan, Singapore and Vietnam.
In 2019, UK exports of goods and services to CPTPP countries amounted to £58billion which was 8.4 percent of all UK exports.
Imports were £53 billion which was 7.3 percent of the UK total.
The UK has already agreed to trade deals with seven of the member states.
An ally of Ms Truss previously told Express.co.uk: “A deal with the Kiwis will boost British exporters and benefit consumers, but its wider significance is as a gateway for Britain into the Trans-Pacific Partnership, which offers even greater prizes.
“It’s a hugely exciting prospect and Liz is working hard to make it happen. This is why we left the EU, in order to pivot Britain towards old allies and fast-growing Asian economies and strike much more ambitious and liberalising trade deals.”
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7.46am update: So long, Brussels! UK’s incredible global trade options laid out by delighted Brexiteer
Britain can now look to forge long-lasting, mutual beneficial trade deals with countries outside the European Union after severing ties with the bloc and all its associated red tape, Brexiteer and former Labour Party MP Baroness Hoey has said.
The peer, previously Kate Hoey, MP for Vauxhall until she stood before the last general election, was announced as Britain’s new trade envoy to Ghana earlier this month.
She told Express.co.uk Brexit would also help Britain to put a stop to Brussels’ exploitation of developing countries – by cutting out the EU as the middleman.
7.35am update: Liz Truss nearing New Zealand deal
As reported by The Sun, Ms Truss is set to agree to a deal with the Commonwealth state “imminently”.
The deal will cut tariffs on products such as wine and apples.
A deal with the state is also the latest move in the UK’s tilt to become a dominant player in the Asia-Pacific region.
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