Britain Promises Brexit Will Not Create Legal Vacuum at WTO

Trade secretary Liam Fox promised on Tuesday that Britain’s departure from the European Union would not create a legal vacuum at the World Trade Organization, and said his country was determined to champion free trade.

Britain is a full and founding member of the WTO, but its WTO membership terms are currently shared with the rest of the EU, Fox told a WTO conference in Geneva.

“The UK will continue to uphold these commitments when we leave the European Union. There will be no legal vacuum. But this will not stop us pursuing a more liberalised trade agenda in the future,” he said.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.