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Trade links with Canada must be protected after Brexit

Published: 18 Oct 2017 00:01
Part of:
Economy

Business needs certainty over trade agreements.

The UK Government must give businesses certainty over the future trading arrangements it expects to secure with the EU and countries such as Canada, Economy Secretary Keith Brown has said.

The ability to boost trade and encourage inward investment with countries such as Canada will be put at risk without further clarity.

His comments come ahead of a speech he will make to the Toronto Region Board of Trade later today - the largest and most influential chambers of commerce in North America with over 12,000 members.

Mr Brown will say trade links with Canada, which are worth nearly £500 million in Scottish exports a year, must be protected. In addition, around 3,600 jobs in Scotland are provided by Canadian companies.

Cabinet Secretary for Economy, Jobs and Fair Work, Keith Brown, said:

“We are increasingly concerned about the potential damage that coming out of the single market and customs union will have on the Scottish economy.

“Businesses are making investment decisions for 2019 now and need urgent reassurances. Right now businesses in Canada know that Scotland is part of the EU single market and businesses in Scotland know they can trade with Canada. The UK Government must provide clarity on future trade arrangements in Europe and further afield to limit any economic damage.

“Scotland’s trade links with Canada are going from strength to strength. Our food exports have increased by 37% over the last year, and are now worth more than £94 million. We are committed to increasing our presence in Canada to build upon trade and commerce connections and seek new economic opportunities for the future.”