Monday, 26 September 2016

Britain to seek independent membership of WTO after Brexit – newspaper

In World Economy News 26/09/2016

Britain intends to become an independent member of the World Trade Organisation when it leaves the European Union, trade minister Liam Fox will say next week, according to a report in the Sunday Telegraph newspaper.
The newspaper, without citing its sources, said Fox would use a speech at the WTO on Tuesday to say Britain would seek to be an independent member of the body so that it could negotiate its own trade deals outside of the EU.
Being an independent member of the WTO would involve Britain leaving the EU’s customs union, the newspaper said, something the government has so far refused to confirm it intends to do.

Source: Reuters (Reporting by Kylie MacLellan, Editing by Elizabeth Piper)