Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:
“It is disappointing to see the latest trade figures released by the ONS as the value of both goods imports and exports decreased in September for trade with both EU and non-EU countries.
“Businesses who trade internationally tend to be more successful, flexible and resistant to economic shocks. 58% of businesses in Wales see new markets as an opportunity to recover and grow according to our Quarterly Economic Survey for Q3, with 42% of businesses pinpointing access to new international markets specifically as an opportunity. It is therefore essential that they are provided with the tools and access to markets they need to thrive on the world stage.
“The Trade Bill recently announced in the King’s Speech, proposing to formalise the UK’s membership of the CPTPP, could help businesses to build connections and trade with new markets outside of the EU with lower tariffs for both imports and exports.”
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