Talking trade deals

[Suff]

I found this article from the BBC.

https://www.bbc.com/news/uk-47213842

It was talking about the Japan deal almost all the way down, but, at the bottom (of course), we get the following information.

What about the EU's existing trade deals?
While it was an EU member, the UK was automatically part of around 40 trade deals which the EU had struck with more than 70 countries. In 2018, these deals represented about 11% of total UK trade.

So far, 19 of these existing deals, covering 50 countries or territories, have been rolled over and will start on 1 January 2021. This represents about 8% of total UK trade, based on 2018 figures.

Nice to know that the success we are having in rolling over trade deals is being reported, front and centre. Maybe because the only country/territory we are having trouble negotiating with is the EU. It may be the largest and it may be the most difficult to resolve, but it is by no means all our fault.

[Workingman]

Erm, you forgot to mention the 49% free trade deal of our total we are about to turn into one operating to WTO rules. Now who might that be with? Ah yes, the undemocratic, unelected, bureaucratic bullies of the EU.

Every silver lining has a cloud - and all that.

The 19 deals



Thank the Lord, we're saved!

Only -£600bn worth left to find and sign.

[Suff]

Actually I was just highlighting the point about being able to negotiate.

My take is we're going to complete negotiations on the 70 but we won't complete with the one. We might miss one or two here and there, but we should be fine for most of the 70, I assume OZ and NZ will arrive in time. I also assume they are waiting to see what limits might apply to us before signing. Which only makes sense.

What is more interesting to me is that OZ and NZ fall into the 3% we have not yet signed.

The point, however, is this. If we can't complete a deal with the 42 %of our exports (forget imports, we can get them elsewhere if needed), then we should be looking to where else we can sell those 42% of our goods and services. At least until sanity regains the high ground.

[Workingman]

Australia and New Zealand deals will be C £20bn combined.

Only another £580bn or so needed to plug the gap in 13 weeks then, before we lose the best deal we ever had or are likely to have.

Talking of trade deals.... dreaming about them more like.

[Suff]

before we lose the best deal we ever had or are likely to have.

Best we have ever had? Maybe, that is up for debate.

Best we will ever have? The GDP of the EU, dropped on Jan 1st 2020 from $19tn to just over $16tn. China is $14tn, the US is $21tn.

There are opportunities to have MUCH better deals than the EU because of the $77tn of the world economy, the EU is only 20%. The other 80%, of which we are a part, is far larger and offers more scope.

Yes it is a lot more work, now, to take advantage of that. But a free trade deal with China, in the next 3 years, in simple monetary value, will exceed the EU.

No pain, no gain. We've done the hard work, been punished for nearly 4 years by markets and countries rebuffing us. Time to start making the best of that opportunity the vote in 2016 gave us.

Now ask me if I think giving in to EU demands on, pretty much everything, is making best opportunity of the world around us.

[Workingman]

We'll see. I shall be back come Jan '21 to find out.

[Suff]

OK, I'll be here...

Although it was my conservative estimate that it would take 10 years to make the best of that opportunity. So 31 might be better... Can't guarantee I'll be around in 31...