Britain is said to be looking at ways to "replicate" the trade deals that the European Union has with countries outside the bloc when it exits the EU in March 2019, the Prime Minister said on Wednesday (HERE). I think this is the first we have heard on our plans for these existing EU trade deals.
This is going to be interesting. I believe there are about 35-40 such trade deals. Trying to replicate these overnight may prove a tad difficult, especially when you consider the Department for International Trade will at the same some be involved in striking a trade deal with the EU itself, and until other nations, at least the more substantial ones, know what sort of relationship we will have with the bloc they may be reluctant to enter into a trade deal.
There is doubt that this is as easy as the PM has claimed (see HERE). Many trade deals include quotas like the one with New Zealand on Lamb imports. The quota is EU wide and we need to agree a percentage split which may not necessarily be an easy thing to do.
And of course, we will also be negotiating with the USA, India and Japan apparently. Someone is going to have their work cut out. Step forward Liam Fox, medical doctor, trade negotiator and part-time idiot.
