CWEIC CEO Oliver Everett has written an opinion piece in The Parliamentarian magazine where he discussed the possible implications of Brexit on non-EU trade, specifically across the Commonwealth.
Irrespective of one’s view of Brexit, Everett stressed the importance of the UK making the most of the opportunities being a Commonwealth nation has to offer in the new trading landscape. The globe-spanning market of 52 countries have a number of inbuilt advantages for UK firms as well as a strong demand for UK goods and services, and contain some of the world’s fastest growing markets, Everett noted. Significantly, it has been shown that commonalities in law, language and culture result in intra-Commonwealth trade costing 19% less than trade between non-members.
In terms of helping UK firms access these opportunities, Everett highlighted CommonwealthFirst and the Commonwealth Trade Initiative, two programmes that CWEIC have established recently that aim to lower barriers to UK-Commonwealth trade.
To read the full article, please go here and turn to page 226.