July 17, 2016

iForex Blog - UK’s New PM Wants a Deal with Australia

The Aussies are also Quite Keen.

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This article is originally referred from iForex Blog.

In case you’ve missed the news, the UK has a new Prime Minister. The woman who will now need to lead the country in the turbulent times following the referendum and the Brexit vote is Theresa May, and now it seems that she is already making plans to secure the economic future of the United Kingdom.

In Saturday, May conversed with the Australian Prime Minister, Malcolm Turnbull, who is also newly appointed, and discussed the idea of a free-trade agreement. According to reports, both countries are equally eager to negotiate such a deal, and to do so as soon as possible.

May was very clear that as her country is still part of the EU, at least until article 50 of the Lisbon Treaty will be triggered, she is legally prevented from signing a new trade deal, for the time being. However, she was equally clear that she sees the Brexit as a done deal, and that she intends to take the necessary steps to make a success out of it and to use this as an opportunity to reach free trade deals with global partners.

The two PMs agreed to conduct a meeting at the G-20 summit in China, which is expected to take place in September. At the G-20 summit which took place in November 2015, the EU and Australia agreed to negotiate a trade deal in 2016.

The new Prime Minister of the UK has quite a few challenges ahead. Will she succeed in leading her country through the turmoil and will she indeed turn the Brexit into an economic advantage? Stay informed and follow market events. For alert traders, each development can mean an opportunity.

Original Source: iForex Blog

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