Minister heads to Asia to turbocharge commerce as £600m price of boundaries smashed

International Trade Minister Nigel Huddleston is heading to Indonesia and Vietnam in a bid to spice up commerce with Southeast Asia.

He will be a part of financial ministers from the Association of Southeast Asian Nations (ASEAN) member states in Semarang to strengthen ties with the buying and selling group.

Mr Huddleston will then co-host the UK-Vietnam Joint Economic and Trade Committee (JETCO) and the Trade Committee of the UK-Vietnam Free Trade Agreement in Hanoi.

He will use the conferences to push for UK firms to promote extra services and products to Vietnam.

The go to comes weeks after Business and Trade Secretary Kemi Badenoch signed off UK membership to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) within the greatest post-Brexit commerce deal up to now.

Mr Huddleston stated: “Southeast Asia offers big opportunities for British businesses.

“That’s why our team of specialists has been working hard to remove barriers to trade to help companies sell even more to this dynamic region.

“We know closer trade ties with exciting, thriving economies like Vietnam and Indonesia will provide a boost for the UK.

“I’m looking forward to seeing how our expanded links across the Indo-Pacific, including accession to CPTPP, yield economic benefits up and down the country.”

Southeast Asia’s financial system is anticipated to turn into equal to the third largest on the earth by 2027, price greater than £4 trillion.

It comes as commerce boundaries price round £600million over the following 5 years which have been hampering UK companies from promoting to the Asia Pacific have been knocked down.

Ms Badenoch has made the removing of commerce boundaries one among her prime priorities.

The UK has the liberty to pursue its personal commerce coverage following Brexit.