Brexit Britain has secured a trade continuity agreement with three more countries, signing the UK-Andean Countries Trade Agreement.
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The Agreement will protect a trade flow of more than £2 billion, with 1,500 UK businesses exporting goods to Colombia alone in 2017.
1,300 firms exported goods to Peru whilst 600 exported to Ecuador meaning that the UK exports of goods and services grew by 58% in the decade to 2018.
The Minister for Trade Policy, George Hollingbery, has said: “The agreement signed today with Colombia, Peru and Ecuador will give added assurances to UK businesses trading with the region. Businesses will be able to continue trading like they do today after we leave the EU, with consumers and investors continuing to enjoy the benefits.
The UK has signed a continuity trade agreement in Ecuador today with 🇨🇴, 🇪🇨 & 🇵🇪. This will allow businesses to trade as freely as they do now after we leave the European Union. #FreeTradeUK pic.twitter.com/HPzMlciTYh
— Department for International Trade (@tradegovuk) May 15, 2019
“We look forward to further strengthening our ambitious trade and investment relationship with the Andean Countries as we continue to work closely together in the future.”
The Permanent Secretary at the Department for International Trade, Antonia Romeo, also said: Important step in securing trade continuity between UK & Andean Countries.
“Government Ministers from Colombia, Ecuador and Peru signed the agreement in Quito today.
“The agreement will help protect a trade flow of £2.1bn & bring continuity for businesses & consumers.”
So far the UK has signed such agreements with 10 countries and regions. Now the government must deliver a clean break from the European Union including the Customs Union to ensure the UK has a fully independent trade policy moving forward.