UK signs £1.5BILLION trade deal as Brexit Britain expands on world stage
TRADE Secretary Liam Fox has announced the UK has secured a £1.5billion trade deal and signed off £75million in other trade agreements in a major boost for the UK economy after Brexit.
Dr Fox announced today a deal worth
more than £1.5 billion had been secured by a UK company to deliver
natural gas project in Cameroon.
Additional deals have also be secured in Panama, Turkey, India and Qatar worth £75million for British businesses.
Capitalising on recent foreign visits by Cameroon’s Minister Secretary General, the Presidents of Panama and Turkey and the Prime Minister of India, UK businesses have been exploring exporting opportunities with some of the fastest-growing economies.
London based oil and gas company New Age and the Cameroon government have agreed a deal whill will see the development of a floating natural gas project in Cameroon.
The deal comes after Trade Minister Baroness Fairhead’s meeting with Minister Secretary General Ferdinand Ngoh Ngoh.
Additional deals have also be secured in Panama, Turkey, India and Qatar worth £75million for British businesses.
Capitalising on recent foreign visits by Cameroon’s Minister Secretary General, the Presidents of Panama and Turkey and the Prime Minister of India, UK businesses have been exploring exporting opportunities with some of the fastest-growing economies.
London based oil and gas company New Age and the Cameroon government have agreed a deal whill will see the development of a floating natural gas project in Cameroon.
The deal comes after Trade Minister Baroness Fairhead’s meeting with Minister Secretary General Ferdinand Ngoh Ngoh.
Meanwhile
Dorking based Biwater expanded a deal with Panama following a visit by
the nation’s president Juan Carlos Varela last month.
Dr Fox said: “International visits by foreign ministers aren’t just good for the Government but for UK exporters across the country too, so that local companies can expand their global reach.
“There are strong reasons for the UK to be optimistic about our presence on the world stage and this series of deals, worth more than £1.9billion, showcases Britain’s world leading capability in key sectors such as cybersecurity and life sciences as we leave the European Union.
“That is why as an international economic department we provide a wide range of support for business such as our award-winning export credit agency, UK Export Finance, GREAT.gov.uk and our International Trade Advisors.”
Dr Fox said: “International visits by foreign ministers aren’t just good for the Government but for UK exporters across the country too, so that local companies can expand their global reach.
“There are strong reasons for the UK to be optimistic about our presence on the world stage and this series of deals, worth more than £1.9billion, showcases Britain’s world leading capability in key sectors such as cybersecurity and life sciences as we leave the European Union.
“That is why as an international economic department we provide a wide range of support for business such as our award-winning export credit agency, UK Export Finance, GREAT.gov.uk and our International Trade Advisors.”
Brexit news: Trade Secretary Liam Fox has announced the UK has secured a £1.5billion trade deal
Earlier
this week UK life sciences company, GE Healthcare, secured a deal with
Turkish construction firm KAYI holding following President Recep Tayyip
Erdoğan’s UK visit.
The agreement will see £74million worth of medical equipment exported to hospitals being built across Turkey, Kenya, Tanzania and the Balkans.
And in a boost to the UK's cyber security sector, which exports £1.6billion worth of technology around the globe, the Department of International Trade has secured the first ever ever memorandum of understanding with the Qatar Central Bank.
The agreement will see UK cuber security firms help secure Qatar's online finance sector.
The agreement will see £74million worth of medical equipment exported to hospitals being built across Turkey, Kenya, Tanzania and the Balkans.
And in a boost to the UK's cyber security sector, which exports £1.6billion worth of technology around the globe, the Department of International Trade has secured the first ever ever memorandum of understanding with the Qatar Central Bank.
The agreement will see UK cuber security firms help secure Qatar's online finance sector.
Brexit news: Deals have also been secured in Panama, Turkey, India and Qatar worth £75million
A
new direct flight route from Manchester to Mumbai was secured by Jet
Airways last week which “will be a significant boost to exporters in the
Northern Powerhouse”, a Department of International trade statement
said.
The UK’s exports of goods and services as a whole increased by 12.1 percent to £622billion last year.
Dr Fox is expected to release a new Export Strategy which will set out the Government’s plan to get businesses of all sizes exporting their products to boost the economy after Brexit.
The lucrative trade deals come as Britain’s exit from the EU looms.
EU Brexit negotiator Michel Barnier said the bloc is ready to step up the pace of negotiations as the UK Government's proposals on a backstop position to avoid a hard border in Ireland come under scrutiny.
The UK’s exports of goods and services as a whole increased by 12.1 percent to £622billion last year.
Dr Fox is expected to release a new Export Strategy which will set out the Government’s plan to get businesses of all sizes exporting their products to boost the economy after Brexit.
The lucrative trade deals come as Britain’s exit from the EU looms.
EU Brexit negotiator Michel Barnier said the bloc is ready to step up the pace of negotiations as the UK Government's proposals on a backstop position to avoid a hard border in Ireland come under scrutiny.
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