Prime Minister will today tell world
leaders that the Brexit agreement reached with the EU is ‘a
good deal’ for the global economy.
Speaking at a session on trade at the G20 in Buenos Aires
the PM will say that the UK will be able to ‘play a full
and active role on trade on the global stage, working with
friends new and old’.
The PM will also hold a series of bilaterals with world
leaders over the course of the Summit.
At the trade session, she will say the agreement reached
between the UK and the EU last Sunday will have positive
consequences for the world economy.
The PM will tell fellow leaders:
Our relationship with the EU will remain close. A free
trade area with no tariffs, fees, charges, quantitative
restrictions or rules of origin checks, will protect
jobs, including those that rely on integrated supply
chains.
International firms that have invested in UK production
or use European bases to supply the UK market will
benefit from these arrangements.
But we will be leaving the EU, including the Single
Market, the Customs Union, the Common Agricultural Policy
and the Common Fisheries Policy.
For the first time in more than four decades, the UK will
have an independent trade policy. We will play a full and
active role on trade on the global stage, working with
friends new and old, at a time of unprecedented global
interconnectedness.
From April 2019 the UK will take up its independent seat at
the WTO,
representing ourselves and using our voice to advance UK
interests and support the multilateral trading system while
respecting the principle of sincere cooperation.
On Friday the PM will discuss ways in which to boost
bilateral trade and investment with President Macri of
Argentina, which is Latin America’s third biggest economy.
The leaders are expected to agree the first ever UK Trade
Envoy for the country.
The PM’s visit is a significant milestone, marking the
first time a British Prime Minister has ever travelled to
Buenos Aires and only the second Prime Ministerial visit to
Argentina after in 2001. It comes
just days after the UK and Argentina announced the
agreement of a new flight between Latin America and the
Falklands, underlining the progress that has been made in
the relationship.
The PM and President Macri will talk about co-operation on
shared priorities such as international security.
The G20 also marks the PM’s first visit to Latin America,
which has been identified as an increasingly important
partner for the UK’s global ambitions post-Brexit.
Latin America is the fourth largest market in the world
with 638m people, a combined GDP of $5.6tn, falling poverty
levels and a growing middle class population.
Net UK investment is already growing strongly, more than
doubling in Brazil since 2010 from £6.4bn to £15bn.
At the Summit the Prime Minister will also discuss with
President Pinera of Chile the good progress being made
towards transitioning our current trade arrangements with
Chile. This is one of a number of EU trade agreements that
the UK is working with partners across Latin America to
transition.
In advance of the visit, the PM said:
The Brexit deal we have agreed sets a path for the UK to
a brighter future. The announcement of a new Trade Envoy
for Argentina and progress in transitioning our trade
agreement with Chile show that we are already taking
significant steps to boost trade in fast-growing new
markets.
We have strong links to build on – British energy
companies are on the ground in Argentina, working to
develop local energy sources, while financial services
firms supports the funding of these projects to expand
Argentinian infrastructure. In my discussions with
President Macri we will be exploring how we can develop
this further for the prosperity of both our countries.
