Reacting to news of a consultation on a new trade deal with South Korea, William Bain, Head of Trade Policy at the BCC, said:
“South Korea is a vital export market for the Chamber Network, but also a key source of semi-conductors for the UK manufacturing sector, as well as many everyday consumer goods we all rely upon such as cars, electrical goods and electronics.
“We want an ambitious agreement to upgrade the current continuity trade deal, agreed before the UK left the EU. An agreement which fires up digital trade and e-commerce between both countries would be strongly welcomed.
“We have clear interests to defend too – around continuing with the flexibility for manufacturing exports and preferential tariff treatment in the South Korean market. The right deal on the right terms could boost bilateral trade.
“We hope for a constructive and close working relationship with the UK and South Korean Governments as the next steps on our bilateral trading relationship are taken.”
More detail on the UK-South Korea continuity free trade agreement can be found here.