What are the Top 10 trade partner prospects for the UK moving forward? The Westminster Policy Institute has today released its 2017 Trade Prospects Index, in conjunction with Heathrow, which outlines strategic opportunities for the UK.
The Index ranks the Top 10 nations in terms of value that the UK could look to trade more with moving forward. Facts considered in their analysis include current trade, likely benefits, feasability, number of connections and perhaps most importantly – those where trade deals are more likely to be struck quickly.
The Top 10 nations are…
Each of the nations in the Top 10 have different strengths and weaknesses. From 10 to 1, the nations are:
- South Korea
“For the past 150 years Britain has been a beacon for free trade”
Heathrow CEO John Holland-Kaye describes the situation facing Britain in his foreward in the Index:”For the past 150 years Birtian has been a beacon for free trade. The ability to export food, cotton, coal and iron to all corners of the world helped Britain become the powerhouse economy of the world in the mid-19th century. In 2017, Britain can boast of world-leading, advanced manufacturing companies in sectors such as aerospace and defence. The UK is also the second biggest exporter of services in the world. We should all rightly be proud of Britain’s history as a great, global trading nation.”
“Today, however, Britain finds itself at a cross-roads. Over the coming months and years, the country must grasp the opportunities that leaving the European Union presents. Striking trade deals with both friends in Europe and with countries across the world will form the cornerstone of future UK prosperity.” – Heathrow CEO, John Holland-Kaye
“Agreeing new deals will not be simple. There are a number of complex factors – diplomatic, economic and political – which will need to be addressed to avoid the cliff-edge of trade uncertainty for British businesses. It is an opportunity to forge new frameworks for free trade deals whilst being vital to priorities deals which are not only achievable in a relatively short period of time, but which also deliver the most value to the UK economy. That is why we at Heathrow are delighted to be supporting WPI Economics’ Trade Prospects Index.”
Download the full report, here.