UK and South Korea agree free trade deal

International Trade Secretary Liam Fox has announced that the UK and South Kora have signed a trade agreement.

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As Nik Mehta, the UK’s Deputy Ambassador to South Korea, explains: “Liam Fox announces continuity #FTA in principle b/w UK and South Korea.

“This will continue to allow significant tariff-free bilat trade post-Brexit & sets ambition for future agreement. Culmination of great cooperation b/w UK in Korea, Foreign Office and Trade Department Korean counterparts.”

He also tweeted: “Why does UK-South Korea continuity #FTA in principle matter?

“Gives certainty and confidence to our businesses that existing arrangements will continue once we have left #EU.

“Sets basis for a deeper, more ambitious future agreement. Trade has doubled since 2011 to >£14bn.”

Meanwhile, Liam Fox himself said: “UK & South Korea Trade Agreement: This means that whatever happens with Brexit, there will be total continuity in trade between our two countries AND the basis for an ambitious future FTA when we leave the EU.”

Fox set out how: “It will allow British and Korean businesses to keep trading and investing on the same terms as they do today.”

Now the UK must leave the European Union, including the Customs Union, and take back control with a fully independent trade policy in order to be able to take advantage of the fantastic global opportunities that are out there.