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Katherine Tai, the USA s new trade representative (Image: PA) A report published by the House of Commons Library in November makes the importance of trade links with the US crystal clear. While the EU as a bloc remains the UK’s largest trading partner, its importance is dwindling year by year. In 2019, it accounted for 43 percent of UK exports of goods and services and 52 percent of the UK’s imports. In 1999, the EU’s accounted for 55 percent of the UK’s total trade. The top 10 UK export markets in 2019 (Image: House of Commons Library) The report adds: “Looking at individual countries, the US is the UK’s largest trading partner. ....
Liz Truss penned an op-ed for Express.co.uk last weekend (Image: Twitter) Writing for Express.co.uk last weekend, Mrs Truss said: “There are few markets around the world that offer greater potential than India. “This huge market of 1.4 billion people is already emerging as the world’s fastest-growing major economy and is expected to become the second biggest in the world by 2050, making it a crucial long-term trading partner. “Securing new opportunities will help our businesses grow by investing in their staff and commercial future, whether it is Twinings selling tea to India, Brompton selling its bicycles, or the Dunstable bakery exporting their naan bread.” ....
Foreign Secretary Dominic Raab (Image: GETTY) “I am proud to be pushing on with our Enhanced Trade Partnership, which will secure more high-quality jobs as we work towards a full free trade agreement.” Her optimism was backed up by Nayan Gala, Founding Partner at venture capitalist firm JPIN VCATS. He said: It s great to see that the UK and Indian governments have agreed to an enhanced trade partnership. Boris Johnson on Brexit (Image: Express) Trending “India is a 21st-century powerhouse the UK-India trading relationship is already worth almost £24 billion, with 383 Indian companies in the UK employing more than 82,000 people. “The ETP will help to fuel economic recovery in a post-Brexit, post-Covid UK and really allow the UK to benefit from the immense growth India is about to experience in the coming decade. ....
North West Leicestershire MP Andrew Bridgen said: “The Sefcovic letter shows that the EU’s professed concern for Northern Ireland during the negotiations of the future relationship was a complete fraud.” Meanwhile, writing for the Sunday Express, Ms Truss has said that the India/UK trade deal will build on the £23 billion a year already traded between the two. She said: “There are few markets around the world that offer greater potential than India. This huge market of 1.4 billion people is already emerging as the world’s fastest-growing major economy and is expected to become the second biggest in the world by 2050, making it a crucial long-term trading partner.” ....