Back in 2017 UK's International Trade Secretary Liam Fox promised the British government would immediately agree 40 free trade deals with other non-EU countries the minute Britain left the European Union.
Next Monday (11th February) he is expected to take a first step and sign an agreement with Switzerland.
But the road to 40 trade deals will be a bumpy ride...
Few weeks ago the UK government has told businesses it cannot guarantee the British economy will be covered by “most” of the EU’s global network of trade agreements immediately after Brexit — even if parliament approves Theresa May’s divorce deal with Brussels.
The admission by the Department for International Trade that the UK will fail to conclude trade deals with most non-EU countries by the scheduled Brexit date of March 29 infuriated many executives taking part in a briefing.
This afternoon, the European Commission has pointed out that the United Kingdom has plenty of obligations to the European Union, if it wants to sign the treaty agreement with Switzerland.
Mina Andreeva, spokeswoman of the European Commission, explained the situation.
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