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UK eyes Asia trade deals in case Brexit really happens

Published Tue, Aug 4, 2015 · 09:50 PM
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LAST week, British Prime Minister David Cameron travelled through South-east Asia, stopping in Singapore, Jakarta, Kuala Lumpur and Hanoi. One of the top priorities on his agenda was to secure trade deals with countries in the region, as well as research and development collaboration, such as that which falls under the UK-Singapore Cyber Security Cooperation Memorandum of Understanding that was signed between the two countries.

Just prior to his trip, Mr Cameron said Britain needed to "go to the ends of the earth" to sell its wares. He cited projections that 90 per cent of global growth in the next 20 years will come from outside Europe. Some of his stops were firsts for a British prime minister, such as his call on the Asean Secretariat in Jakarta and his visit to Vietnam.

It would appear that the UK is actively trying to seek a lifeline in trade beyond the European Union (EU), in view of a possible "Brexit" - the exit of Britain from the EU, should British voters choose to endorse such a move in a referendum promised by Mr Cameron for 2017. The idea here is that UK should actively strengthen trade links with countries and regions outside Europe, especially Asia, so as to contain any fallout from trade disruptions with the EU that will result if the UK leaves the framework of the EU's single market.

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