Spanish magnate recommends UK might be worldwide trade center post-Brexit

The UK has the chance to become an independent international trading center after Brexit, according to Spanish magnate checking out London as part of the very first state see by Spain’s king in 30 years.

The delegation stated aspects that make the UK an appealing place to do business now might help it succeed when it has left the European Union and help it echo the success of Asian financial power Singapore, which has taken advantage of international trade and by buying other nations.

“The economy, its geographical place and a currency that is appreciated might make the UK the center that has the benefits of a particular self-reliance with all the benefits of being an accepted trade partner to the EU and the United States,” Gerard Lopez, president of Spanish IT company Plexus, stated.

“There’s a function to be played as a quasi-independent.”

Telefonica president José María Álvarez-Pallete López was similarly positive, stating the guidelines of the continuous tech transformation will be composed in the next couple of years which the UK “can be at the leading edge of that”.

But business chiefs prompted the Government to set out a clear course for Brexit because it was the “grey area” that produced unpredictability and might impede financial investment in the UK economy.

UK International Trade Secretary Liam Fox speaks at the Mansion House occasion.

The remarks, made at a UK-Spain business online forum occasion at Mansion House, come as bilateral trade in between Spain and the UK stands at ₤ 40bn. Spain is the UK’s ninth biggest export market and it puts more of its external financial investment into the UK than other nation.

In spite of the positive remarks, such a rosy post-Brexit circumstance deals with big difficulties before it can become truth, not least because the UK needs to concur a so-called “divorce costs” with the EU along with changing or reproducing crucial arrangements around trade and air travel.

Nathan Bostock, who runs Santander UK, prompted policymakers to bear in mind little- and medium-sized services were the “heart of the economy” which trade passages to abroad markets were exceptionally essential.

The group has sped up a program of trade objectives in between UK business and possible abroad partners since Brexit and Mr Bostock stated business that export was at least 4 times more durable throughout a financial decline, highlighting the value of robust trade offers.