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British trade policy after Brexit: ruthless prioritisation required

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Mon, 22 Aug. 2016
  • RELATED MARKET

    ASEAN

  • SOURCE

    Global Counsel

  • CONTRIBUTING PARTNERS
    Prudential

Summary

UK trade policy will require ruthless prioritisation if scarce diplomatic resources are to be deployed to the best possible effect. We provide advice based on a series of metrics. The US and China should be the top priorities, although for different reasons. The government should not spend too much time on India or Australia and it should largely forget about Canada. It is worth spending time to boost trade elsewhere in Asia, specifically in Japan, Korea and the ASEAN countries. The government would be advised to not overdo the Gulf. Finally, it should not neglect countries in Europe that are not members of the EU, specifically Russia, Turkey and Switzerland. There are likely to be significant opportunities in all three, although progress with Russia will be held back by a difficult political relationship.

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