December 3, 2018 / 11:12 AM / a year ago

Britain submits new terms for post-Brexit services trade at WTO

Demonstrators protest against Brexit outside the Houses of Parliament in London, Britain, November 28, 2018. REUTERS/Henry Nicholls

GENEVA (Reuters) - Britain has officially notified the World Trade Organization of the proposed terms for its trade in services with other countries after Brexit, an important part of its divorce from the European Union, trade minister Liam Fox said on Monday.

The procedure is necessary because the United Kingdom has to disentangle its WTO membership from that of the EU. Fox said the proposed new terms circulated among WTO members would replicate Britain’s current obligations as far as possible.

“We see this only as a technical exercise that will provide continuity for business and, in future, we will work with other members on an ambitious agenda to liberalize international trade in services even further,” Fox said in a statement.

Reporting by Tom Miles

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