19/04/2021 | Inglaterra

UK expands its export markets

After the country's exit from the European Union, British professionals wish to explore export possibilities far beyond Europe. The many trade treaties concluded since the Brexit decision will provide the opportunity.
Brexit uncertainty had caused volatility in currency markets, leading to the weakening of the national currency (GBP). A situation which has led to a drop in the value of exports but which could quickly change by an extension of exports.
The numerous trade agreements concluded will allow British professionals to explore export possibilities far beyond the EU. In particular to China and Cuba.
With China, the UK recently signed an agreement for the export of seed potatoes. According to Glenn Uniacke, managing director of international payments at moneycorp, this market could have great potential as China is the largest consumer of potatoes in the world, with a high demand for French fries and crisps.
Another interesting market is Cuba, which imports around 17,000 tonnes of seed potatoes from various countries. Cuba considers the quality of British products favorably, this market could quickly grow.
In addition, the trade agreement concluded with Canada should allow an increase in British exports of dairy products. Further trade deals with Algeria, Saudi Arabia and Tunisia should allow UK barley exports to grow significantly.
source: fginsight.com, potatonewstoday.com


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