Theresa May Sets Out Brexit Plan - Trade Outside EU

The transcript discusses the importance of the UK establishing trade agreements with countries outside the EU to boost its economy. It highlights the stagnation of trade as a percentage of GDP since joining the EU and emphasizes the need for Britain to reestablish itself as a global trading nation. The creation of the Department for International Trade and ongoing discussions with countries like China, Brazil, and the USA are mentioned. The transcript also addresses the implications of the UK's customs union membership on its ability to negotiate independent trade deals.

Why does Britain need to increase its trade with fast-growing export markets?

• To enhance cultural exchange

• To improve domestic employment

• To increase GDP

• To reduce dependency on the EU

What was established to help Britain become a global trading nation?

• The Bureau of International Business

• The Office of Trade Expansion

• The Ministry of Global Commerce

• The Department for International Trade

Which countries have shown interest in forming trade deals with the UK?

• South Africa and Egypt

• Canada and Mexico

• China, Brazil, and the Gulf states

• Russia and Japan

What is a major concern regarding Britain's trade agreements outside Europe?

• Environmental regulations

• Membership in the EU's customs union

• Impact on local businesses

• Loss of cultural identity

What does Britain aim to achieve in its trade relations with Europe?

• Complete independence from EU regulations

• Higher tariffs on European goods

• Tariff-free and frictionless trade

• Exclusive trade agreements with EU countries