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Free Trade Agreements with the Rest of the World
06 February 2020
Type
Written Ministerial Statement
Department
Department for International Trade
At a Glance
Issue Summary
The statement outlines the UK's proposed approach to negotiating free trade agreements with priority partners outside of the EU.
Action Requested
The Government aims to secure FTAs covering 80% of UK trade within three years, starting negotiations with the USA, Japan, Australia and New Zealand. It will set out negotiating objectives for the UK-US FTA in due course and continue to provide updates on its plans for global FTAs.
Key Facts
- The IMF forecasts that 90% of global GDP growth will come from outside the EU over the next five years.
- The Government aims to secure free trade agreements covering 80% of UK trade within three years.
- Over 31,600 small British businesses are already exporting goods to the US.
- At the end of 2018, British companies had investments worth £295.1bn in the US.
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Assessment & feedback
Summary accuracy