Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Trading

EU would be our trade priority, UK opposition Labour Party says

2021 09 27T141249Z 1 LYNXMPEH8Q0Q1 RTROPTP 4 BRITAIN EU TRADE - Global Banking | Finance

By William James

BRIGHTON, England (Reuters) – The opposition Labour Party would make rebuilding Britain’s ties with the European Union its top trade priority, putting the bloc above U.S and Indo-Pacific deals in the post-Brexit era, its trade policy chief Emily Thornberry said on Monday,

Conservative Prime Minister Boris Johnson is only two years into a possible five-year term, but Labour is using its annual conference in southern England to bill itself as a credible alternative government with Britain beset by fuel shortages, empty shelves and soaring energy prices.

The government has made a push into the Indo-Pacific its trading priority, eyeing premium exports to its rapidly expanding middle classes and a surge in demand for British professional services.

But Thornberry told Reuters she would instead focus on fixing trade partnerships closer to home which have been hit by increased bureaucracy and a deterioration in diplomatic relations caused by the rancorous EU exit negotiations.

“The reality is that it’s always easier to trade with those who are geographically near, that’s how it works,” Thornberry said.

She described the free trade agreement signed with the EU on Christmas Eve 2020 as “thin” and “desperate”, but said there was scope to build on it and restore a better functioning arrangement with Britain’s largest export market.

Since leaving the EU, British exporters in some sectors have either been priced out of EU markets or cut off entirely by the demands of new customs rules.

Thornberry’s first step would be to strike an agreement with the EU to resolve problems with the transportation of food between Britain and the EU, and Britain and Northern Ireland.

The government has said it wants to find solutions, but will not tie its food standard permanently to EU law.

A veterinary deal could help rebuild trust with Brussels and open the door to mini agreements on a range of other difficult issues that were delayed or left unresolved by the 2020 deal, Thornberry said.

“Build on what’s there, repair the holes, be pragmatic, be realistic, be grown up politicians and not dogmatic,” Thornberry said.

(Reporting by William James; Editing by Angus MacSwan)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post