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International Trade Secretary Liz Truss has confirmed the UK and Canada have agreed to begin “more advanced” negotiations once Britain is finally freed from the shackles of the EU on January 1, 2021. On Friday, the UK finalised a post-Brexit deal with Canada to protect the flow of goods and services worth £20billion.
Boris Johnson said the extension of existing EU terms was a “fantastic agreement for Britain”.
Canadian Prime Minister Justin Trudeau said both would look at ways to “maximise our trade opportunities”.
The UK has now agreed trade deal with more than 50 countries around the world, worth more than £150billion.
Ms Truss said: “We have also agreed to start negotiating a more advanced trade deal next year, which will be more ambitious in areas such as digital trade, women’s economic empowerment and the environment.
“We will build on this in our presidency of the G7, working with like-minded democracies such as Canada to promote our priorities around the world.”
Writing in Sunday Telegraph, she added: “This deal will allow us to take our economic relationship to new heights.
“It also takes us a step closer to hitching ourselves to one of the most dynamic trading areas in the world.”
The International Trade Secretary added the UK would look towards joining the Trans-Pacific Partnership made up of 11 nations, including Canada, Japan and Australia.
Ms Truss explained this would give Britain access to a market which is equivalent to 13 percent of global GDP – worth around £11trillion.
In a major swipe at the EU, Ms Truss insisted “they thrive under modern, business-friendly rules which offer much more than the EU could for the industries of the future”.
She added: “Together, we would form a coalition of the willing in the fight for free and fair trade which would push back against protectionism and those who would try to subvert the world’s rules-based system.”
Over the past two years the UK has agreed deals with 53 nations worth £164billion.
Ms Truss confirmed the UK was not done yet and is working on agreements with the US, Australia and New Zealand in order to “turbocharge” industries.
She said: “We are working flat out to reach new gold-standard arrangements with the United States, Australia, and New Zealand.
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“Seizing these opportunities will bring home jobs, economic growth and investment.
“This is how we will revive our industrial heartlands, turbocharge our services and take our digital trade to the next level.”
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