British Foreign Minister Raab Heads to Thailand to Boost Trade Ties with ASEAN Countries

Foreign Minister Dominic Raab is all set to travel to Thailand today to meet with 10 South East Asian nations in a bid to boost trade ties.

Arslan Butt•Wednesday, July 31, 2019•1 min read

Even as Brexit uncertainties continue to weigh on UK’s financial markets, Foreign Minister Dominic Raab is all set to travel to Thailand today to meet with 10 South East Asian nations in a bid to boost trade and diplomatic ties with them. The meeting will allow attending nations to explore opportunities for developing a stronger relationship with the UK after it leaves the EU.

Raab will be meeting with foreign ministers of ASEAN countries in Bangkok, Thailand. Prior to his departure, while addressing the media, Raab stated, “This region is already worth 36 billion pounds ($43.80 billion) per year in trade with the UK – and there are opportunities for us to boost that trade to benefit UK businesses and consumers.”

Despite the increasing likelihood of a no-deal Brexit which could potentially push UK’s economy into recession, UK’s departure from the EU will offer it the opportunity to strengthen bilateral trade deals with countries worldwide, independent agreements signed centrally by the Union. This could prove beneficial to Britain as it offers greater flexibility and negotiation power.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.