The vote by the UK to leave the EU after 43 years as a member was undoubtedly a monumental decision, and one which has proved to be fairly divisive. Whilst it has caused a lot of economic uncertainty, there could well be some good trade opportunities arising from post Brexit Britain.
Given that the UK will almost certainly be leaving the Customs Union and Single Market, it will have the freedom to trade with any country it chooses, so here are some of the trade opportunities which may arise after Brexit.
As a member of the EU, Britain is currently unable to negotiate its own trade deals, and it must comply with the rules and regulations set out by the EU when it comes to trade. Whilst it does have a say in economic policies, it does not have the freedom to negotiate its own individual trade deals with non EU countries.
Once the UK leaves the EU, however, it will be able to directly negotiate with countries outside the EU and set up previously inaccessible trade deals, which was one of the key advantages highlighted by pro-Brexit voters.
The UK and USA have long boasted of having a ‘special relationship’, which has allowed them to maintain strong diplomatic and economic links. With Britain being independent of the EU, it is likely that the USA will be one of the first countries it will negotiate a bespoke trade deal with.
This means that UK businesses may well be able to tap into the USA’s lucrative markets, and sell their services/products to them. This in turn may well benefit companies like National Pallets and other logistics/courier services, as they will be in high demand from the businesses needing to send products to customers further afield.
Whilst the UK is leaving the EU, it must be remembered that the two have had strong trade links for many years, and that trading will not cease between the two. Although trading with the EU will likely be more expensive, there should still be ample trade opportunities for UK businesses to take advantage of.
Economic powerhouses like Germany, for instance, still regard the UK as a valuable trading partner, and with the UK being so close to Europe geographically, it makes sense that businesses in both countries will want to continue to have a close relationship.
Whilst no one can be absolutely sure of how post Brexit Britain will look, it is fair to say that there should be a good amount of trade opportunities for businesses to capitalise on which were previously unattainable. If the UK manages to replace EU trade with trade from countries around the world, then Brexit could prove to be very lucrative indeed.