- Title: Britain's Fox says UK-EU trade deal "easiest FTA in the history of mankind"
- Date: 20th July 2017
- Summary: GENEVA, SWITZERLAND (JULY 20, 2017) (REUTERS) EXTERIOR OF GRADUATE INSTITUTE GENEVA WHERE BRITISH TRADE MINISTER, LIAM FOX, IS GIVING HIS SPEECH GRADUATE INSTITUTE GENEVA ENTRANCE VARIOUS OF FOX ARRIVING AT GRADUATE INSTITUTE GENEVA FOX WALKING ON TO STAGE FOR CONFERENCE CONFERENCE IN PROGRESS (SOUNDBITE) (English) BRITISH TRADE MINISTER, LIAM FOX, SAYING: "You know, when we think about it, the free trade agreement (FTA) that Britain will ultimately have to negotiate with the European Union should be the easiest FTA in the history of mankind because we begin with zero tariffs and 100 percent regulatory equivalence. No one has ever begun an FTA negotiation from that position and the only reason that we wouldn't get as open an agreement as we have today is if politics gets in the way of economics and common sense." AUDIENCE LISTENING MAN ASKING QUESTION (SOUNDBITE) (English) BRITISH TRADE MINISTER, LIAM FOX, SAYING: "While much political activity in Europe has been focused on Brexit, it's essential that we don't lose sight of the big picture, and the potential for all of us to benefit from another round of liberalisation under the WTO (World Trade Organization)." AUDIENCE LISTENING AUDIENCE LISTENING / FOX DURING CONFERENCE (SOUNDBITE) (English) BRITISH TRADE MINISTER, LIAM FOX, SAYING: "It's very important that we keep the United States orientated towards an open, free trading approach because it is the world's biggest economy and what happens there will affect everybody else. So I think that directing the debate away from some of the protectionist noises into a free market, rules-based debate is a very important discussion for us to have." CAMERAMAN FILMING AUDIENCE LISTENING CONFERENCE IN PROGRESS END OF CONFERENCE WITH AUDIENCE CLAPPING FOX LEAVING CONFERENCE AUDITORIUM
- Embargoed: 3rd August 2017 13:16
- Keywords: Liam Fox Brexit UK-EU trade deal Britain WTO European Union Free Trade Agreement FTA
- Location: GENEVA, SWITZERLAND
- City: GENEVA, SWITZERLAND
- Country: Switzerland
- Topics: Government/Politics,International Trade
- Reuters ID: LVA0016QIVJ2F
- Aspect Ratio: 16:9
- Story Text: British Trade Minister Liam Fox said on Thursday (July 20) a bespoke trade deal between Britain and the European Union should be "should be the easiest FTA (free trade agreement) in the history of mankind " to reach.
Sterling slipped back below $1.30 on concern about the Brexit talks coming to an end with no deal in place, something many economists have warned could cripple business activity.
Fox, a eurosceptic who campaigned for Britain to leave the European Union, said a trade deal should be simple because the two sides already have similar regulatory rules and no tariffs.
The British minister was delivering a speech in Geneva in front of an audience of diplomats and academics and called for a new round of global trade reforms to bring World Trade Organization rules up to date with the digital economy.
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