Priti writes in the Daily Express, 23 August 2018

Published: 23rd August 2018 - 5:18 pm Category: General News

One of the most exciting Brexit opportunities for our great country is that we will once again be able to set our own trade policy.

There has been much discussion about doing deals across the world, yet less focus on why this matters to Britain.

The EU’s own forecasts say that 90 per cent of global growth is set to come from outside the EU.

During the past four decades, the EU has fallen from 30 per cent of global GDP to 15 per cent today.

By contrast, emerging markets and developing economies have gone from 36 per cent of global GDP to 59 per cent.

It’s not hard to see where our long-term focus should be – forging closer trading ties with fast growing economies, we will be better placed to grow as they grow.

In particular ties with the US, India, China, Brazil and other emerging markets who want to buy the types of goods Britain offers.

Take India, for example, which has the highest growing middle class in the world – they want access to great British brands, in clothing and food.

If we make the most of our independence we can reform our economy and forge stronger links across the world rather than putting all our eggs in the EU basket.

At the moment inside the EU our trade policy is made in Brussels.

Once we leave the single market and customs union, we will be able to decide our own trade policy on the terms we choose.

We are unable to set up agreements because of our membership of the EU and everything has to be agreed by a block of 27 countries.

Free trade agreements are good for Britain because wider trading relationships give the consumer choice.

Whether it’s an orange from Brazil or a car from the US, none of it would be possible without trade.

This increases choice and cuts prices for the consumer, as trade increases competition and incentivises efficiency.

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