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WTO warns on Brexit customs bill for exporters


06-08-2016 15:22 BJT

Britain would face gruelling negotiations in setting the terms of its World Trade Organization membership, if the country decides to leave the European Union. The WTO director-general Roberto Azevedo doubted claims that Britain would be able to access the European market through the organization, if it were unable to secure favourable alternative deals after leaving the EU.

"The UK currently has preferential trade relationships with the EU, and with the other 58 countries with which the EU currently has free trade agreements. Now, in the event of a British exit, all of these relationships would need to be re-established to maintain the same preferential access the UK currently enjoys via the EU. And this would probably entail negotiations," said Roberto Azevedo, director general World Trade Organization.

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