UK Transport Secretary: Brexit Best for Maritime Business

 12 Sep 2017 11.11am

Brexit Britain will be the best country in the world to do maritime business with due to more trade opportunities, more jobs and more investment in new technologies, the UK’s Transport Secretary Chris Grayling has said.

The UK government has stated that its committed to working with industry to deliver an ambitious export plan for when the country leaves the European Union.

It has claimed that its approach will maximise new trade opportunities and significantly grow the UK’s maritime sector to become a global front runner in future innovation and technology.

The government’s checklist includes creating a plan to shape and promote the maritime industry up to 2050 and collaborate with industry partners to significantly grow the sector by seizing new trade opportunities.

It will also call on maritime employers to double the number of apprenticeships they offer and launch a British shipbuilding ‘renaissance’.

Read about the issues relating to trade really turn on the UK's status once it has left the EU in the 'Brexit’s Impact on Customs Regulation' technical paper written by Daniel Martin, Partner, Holman Fenwick Willan.

The maritime industry holds at least 111,000 jobs and contributes nearly $20 billion to the UK economy each year.

Grayling said: “Leaving the European Union will allow Britain to seize new opportunities and rediscover our heritage as a truly global, seafaring, trading nation.

“Our maritime industry, far from being a story of the past, is a thriving success story – worth around £15 billion a year to our economy and supporting a quarter of a million jobs.

“This government is determined to work with the maritime industry to help it grow significantly and make the UK a world leader for shipping business.

“The government has already made good progress to bolster our trade and export relationships including by supporting the first Maritime UK trade mission to China and Hong Kong.”

Read more: The UK government has committed US$ 7.8 million to help fund innovative technologies and fuels to reduce maritime emissions and progress towards a zero-emission sector.

  Global Economy/Trade, Politics, Ports, Shipping