Professor Panos Koutrakos speaks on the future of UK trade
Professor Panos Koutrakos spoke at the World Trade Summit 2016, organized by the Institute of Export on 12 October 2016. He addressed a wide audience of business executives on 'The future of trade relationships between the UK and the rest of the world'.
Professor Koutrakos highlighted the legal, policy, and practical challenges that the UK faces in developing its trade relations with third countries after its withdrawal from the EU:
“In order to establish its trade relationships with the rest of the world, the UK will have to go through a process of extraordinary legal complexity. This process would take time and energy and may turn out to feature surprises (not necessarily pleasant ones)'.
The event examined the big issues that businesses and the government must get to grips with in shaping international trade – export opportunities, dealing with Brexit and globalization.
Globalisation is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Advances in transportation and in telecommunications infrastructure have been major factors in globalization, generating further interdependence of economic and cultural activities.