EDITION: US | UK | Canada
Thecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video NewsThecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video News
Sign In|Sign Up
 
 
Bridging The Gap
UK exports to a group of emerging nations could be $10bn more.
  Tuesday 13 March, 2018
UK exports to a group of emerging nations could be $10bn more.

The UK is missing out on £10bn worth of exports a year to a group of emerging economies, according to a study by Standard Chartered bank.

Annual exports to what Standard calls the Emerging 7 (China, India, Pakistan, Nigeria, Bangladesh, Vietnam and Indonesia) are currently worth £24bn.

But the bank, which specialises in financing international trade, calculates it should be £34bn a year.

Of all the G7 countries, the UK could be a big beneficiary of closer trade.

Standard Chartered urges the UK to orientate its Emerging 7 (E7) trade policy accordingly.

Michael Vrontamitis, the bank's head of trade for Europe and Americas, said: "With the UK settling into a slower pace of growth and Brexit on the horizon, UK businesses need to look more widely for growth.

"It is clear that the E7 countries represent multi-billion-dollar trading opportunities for the UK and British businesses searching for export diversification and growth.

Brexit
The study was immediately welcomed by the International Trade Secretary, Liam Fox, who has repeatedly stressed the opportunities that Brexit presents to refocus trade policy on faster growing economies.

He said: "As an international economic department, we are supporting businesses meet this demand, target overseas markets and succeed on the global stage, so we create more jobs and prosperity in every part of the country."

However, the study does not examine the potential loss of exports to our biggest and closest market - the EU - as a result of Brexit. Many people have questioned whether increased trade with the E7 can offset those losses.

One of the most sceptical voices was former civil servant Sir Martin Donnelly, who until last year ran the very same Department for International Trade of which Liam Fox is secretary.






source:http://www.bbc.com/news/business-43380891

Bookmark and Share
 
Post Your Comments:
Name :
*
City / State:
*
Email address:
*
Type your comments:
*
Enter Security Code:   


 Latest News »
 
  Salman Khan and crew wows the ...
  President Trump takes swipe at...
  President Trump's July Fourth:...
  Following criticism, President...
  Navy’s planned shipbuilding sp...
  Confusion reigns in wake of Tr...
  The handshake, denuclearizatio...
  Trump to leave G-7 summit earl...
  Can Trump really do that? The ...
  Trump imposes steel, aluminum ...
  American freed from Venezuela ...
  Trump again changes tone on No...
  CIA Director Gina Haspel sworn...
  President Trump promises actio...
  What does Trump's Iran move me...
  Trump extends exemptions on st...
  Melania Trump 'really fun' but...
  Korean summit puts pressure on...
  Arriving for state visit, Emma...
  For an emotional good-bye to B...
 

Current Conditions:
Mostly Cloudy

Forecast:
Mon - Partly Cloudy. High: 94Low: 74
Tue - Thunderstorms. High: 87Low: 78
Wed - Scattered Thunderstorms. High: 86Low: 71
Thu - Mostly Sunny. High: 87Low: 67
Fri - Partly Cloudy. High: 88Low: 69

Full Forecast at Yahoo! Weather



Washington, DC

  ©2010 The Capital Post. All rights reserved.