UK secures key WTO deal on procurement
Print Edition
Britain yesterday secured the right to remain part of a World Trade Organization agreement covering the US$1.7 trillion public procurement market whether or not it leaves the EU with a withdrawal deal.
Becoming an independent member of the 19-party Government Procurement Agreement had been a priority for British negotiators at the WTO. If a Brexit deal is agreed, Britain will stay part of the GPA under its current terms as an EU-member during the transition, the British mission in Geneva said.
But if Britain crashes out of the EU without an agreement, it will automatically become an independent member of the GPA, confirming a compromise agreed among GPA members.
鈥淭his is an important win for British diplomacy ... which will give British businesses certainty that they can continue bidding for 1.3 trillion pounds (US$1.7 trillion) worth of government procurement contracts overseas,鈥 British trade minister Liam Fox said.
The GPA, which includes major economies like the EU, the US and Japan, was designed to liberalize the public procurement market.
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