Blog: She’s done it again! Liz Truss reaches new agreement to unlock post-Brexit trade in Asia – Daily Express

The International Trade Secretary has set up a new framework to explore further investment opportunities with Thailand. Thailand is seen as a key player in emerging markets across Asia and last year trade with the UK was worth more than £5billion.

Britain and Thailand have agreed to strengthen this relationship by creating a Joint Economic and Trade Committee.

This afternoon, Ms Truss and Thailand’s Minister of Commerce and Deputy Prime Minister, Jurin Laksanawisit, signed a Memorandum of Understanding to increase collaboration.

The announcement today follows a Joint Trade Review conducted by both sides in 2020.

Discussions highlighted sectors including, agriculture, financial services, healthcare and technology which could be explored further by the UK.

The partnership is also set to benefit UK exports of power generating equipment and car parts.

Ms Truss said the partnership will help to “boost our economy, create jobs, increase wages and bring prosperity”.

She pointed out the importance of building relations across Asia by stating two-thirds of the global middle class population will be based in the continent by the end of the decade.

Ms Truss, said: “The UK and Thailand have a long and historic relationship, with shared values and interest in mutual prosperity and maintaining the rules-based international system.

“By 2030, 66 percent of the global middle class will be in Asia and today’s agreement sets out our commitment to deepen ties with some of the fastest-growing markets globally.

“We want to forge new partnerships that will boost our economy, create jobs, increase wages and bring prosperity to our people as we build back better, stronger and greener from COVID-19.”

The International Trade Secretary made the announcement on Twitter and was widely praised by Brexiteers.

Brexit Defence Alliance, a eurosceptic group, wrote: “LIZZ DOES IT AGAIN.”

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A second user wrote: “Brilliant news! What a lady.”

A third added: “The work never stops for Liz and her team, no wonder EU are in meltdown, UK driving on with trade deals at a tremendous pace and Liz has shown the world want to work with UK.”

Brexit Britain has already secured agreements with more than 66 countries around the world, as well as the 27 members of the European Union,

The agreements are worth £890billion to the UK economy, according to the Department for International Trade.

Ms Truss is also leading ongoing trade discussions with economic powers, such as Australia, New Zealand, India and the US.

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Britain has also applied to join the lucrative Comprehensive and Progressive Trans-Pacific Partnership.

The trading bloc is made up of 11 nations, they are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

In 2020 trade between the UK and the 11 member countries was worth more than £111billion and has grown on average of eight percent each year since 2016.

The market is made up of 500 million people and represents 13 percent of global GDP – rising to 16 percent if the UK formally joins.

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