A new paper backed by former Australian prime minister Tony Abbott is calling on the UK to quit the EU's customs union and focus on Commonwealth trade after Brexit.
The report, authored by Tory Braintree MP James Cleverly, suggests a five step approach to Britain's trade priorities, beginning with the Commonwealth’s open economies.
After setting up “easy win” deals with Australia, Canada, Singapore and New Zealand in time for Brexit in 2019, the UK should pivot to negotiations with India, before deals with the Commonwealth nations of Africa, the Caribbean and the Pacific.
Finally, Cleverly said the UK should join the Trade in Service Agreement, a US-EU-Australian deal with is geared towards services.
| A CityAM release | January 10, 2017