- Products & Services
- Knowledge Base
TAIPEI, TAIWAN, February 22, 2018 /24-7PressRelease/ -- Clifford Beaumont: This week, Britain's Brexit minister, David Davis stated that the UK and the European Union could reach an agreement whereby each would still have access to the other's markets. He said that concerns Britain would use its departure from the EU as an opportunity to reduce regulations in an attempt to attract global businesses were unfounded.
Davis recently dismissed fears that Britain would find itself in a dystopian, Mad Max-style world after Brexit.
He suggested a system of mutual recognition where both the EU and the UK agree to the same regulatory measures including financial stability and consumer protection but where both are given the freedom to implement their own strategies to reach those outcomes.
Economists at Taipei, Taiwan based investment house, Clifford Beaumont, believe that such an agreement would be an important part of ensuring an open economic partnership going forward.
Davis stated that the UK's plan for life outside of the European Union is one to be held in the highest regard and not a fall from the current high standards.
Davis is traveling around Europe as the UK tries to convince EU officials to reach a new agreement on trade. The UK wants to maintain close economic links with the European Union after it leaves the bloc in March 2019 but also wants the freedom to establish new trade relationships elsewhere abroad.
Clifford Beaumont economists say EU leaders have cautioned that the UK can't have it both ways and that freedom from EU regulations will not coexist with frictionless trade.
# # #