The EU’s failure to conclude just five trade agreements with the United States, Japan, ASEAN, India and Mercosur has, according to the European Commission’s own figures, cost the UK 284,341 jobs.
After we Vote Leave, we will immediately be able to start negotiating new trade deals which could enter into force straight after the UK leaves the EU. As a member of the EU, we are forbidden from striking our own trade deals.
It will be possible to strike these agreements quickly. Oxford Economics has said that ‘an analysis of regional trade deals conducted over the past 20 years found an average duration of 28 months’.
By the next election, the UK will leave the EU’s ‘common commercial policy’, taking back the power to strike its own free trade agreements. The UK will also take back its seat on the World Trade Organization and other international bodies, becoming a more influential force for free trade and friendly cooperation.