Prime Minister Theresa May embarked on a Middle East trip on Monday while Chancellor of the Exchequer Philip Hammond was in India as part of a continuing effort to build a post-Brexit trade future for the UK.

Pressing ahead in building global networks

Although Britain is not allowed to reach new trade deals until the so-called “divorce” negotiations from the European Union are complete, the government in London is determined to press ahead with building global networks that could pave the way for such deals.Mr Hammond is being accompanied on the trade mission to Delhi and Mumbai by Mark Carney, governor of the Bank of England, and senior financial services executives FinTech entrepreneurs. The primary aim is to convince Indian businesses to use the expertise of the City of London in what Mr Hammond described as “an exciting new phase of our economic history”.He added, “The UK is perfectly placed to be India's financial partner of choice, helping it to raise the finance needed for its continued rapid growth and my message will be 'make in India, finance in the UK'.“Our innovative markets have helped support the development of whole new product classes such as masala bonds that will support India's transformation.“I'm delighted to be leading such a heavyweight delegation to India to bang the drum for British business. I am determined to create a truly global Britain, reaching out and promoting the best of what we have to offer.“As we leave the EU and embark on an exciting new phase of our economic history, looking to boost our trade and investment beyond the borders of Europe and strengthening our relationships with the world's most vibrant economies is more important than ever.”

---

Related news:

• CIPD offers advice for firms preparing for Brexit
• Plunge in number of EU citizens seeking work in Britain
• UK employers fear EU talent pool is being drained

---

Strengthening trade and security ties

Mrs May began her three-day trip in Jordan on Monday afternoon – where she announced military trainers would be sent to the kingdom to boost the fight against Islamic extremists – before heading to Saudi Arabia for two days of talks aimed at strengthening trade and security ties.“As the United Kingdom leaves the EU, we are determined to forge a bold, confident future for ourselves in the world,” Mrs May said. “We must look at the challenges that we, and future generations, will face and build stronger partnerships with countries that will be vital to both our security and our prosperity.“It is clearly in the UK's security and prosperity interests to support Jordan and Saudi Arabia in tackling regional challenges to create a more stable region, and in delivering their ambitious reform programmes to ensure their own stability.“An even deeper partnership with these countries, and greater knowledge and understanding of one another, will increase our ability to address the issues that concern us, including the promotion of international standards and norms.“To tackle the threats we face from terrorism and from geopolitical instability, we must meet them at their source. And there is so much we can do together on trade, with immense potential for Saudi investment to provide a boost to the British economy.“So I hope my visit will herald a further intensification in relations between our countries and deepen true strategic partnerships, enabling us to seize the opportunities ahead and ensure the security and prosperity of our people for decades to come.”For related news and features, visit our Brexit section.Access hundreds of global services and suppliers in our Online Directory  Get access to our free Global Mobility Toolkit

©2024 Re:locate magazine, published by Profile Locations, Spray Hill, Hastings Road, Lamberhurst, Kent TN3 8JB. All rights reserved. This publication (or any part thereof) may not be reproduced in any form without the prior written permission of Profile Locations. Profile Locations accepts no liability for the accuracy of the contents or any opinions expressed herein.