A new report by a leading UK-based think tank claims there is enough untapped trade potential to offset the possible effects of Brexit on exports to the European Union (EU).
Open Europe, in its research titled ‘Global Britain: Priorities for trade beyond the EU’, has said that Britain can make up for any export loss as it exits the EU by building on under-developed links with countries like India and making it a priority in its trade negotiations.
“There’s little point making policy looking at just today’s world. According to projections, Germany’s GDP will grow by 14 per cent between 2017 and 2030. Over the same period India’s is expected to more than double. So, we have modelled how the data will appear in 2030, using predicted growth figures,” the report says.
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