The UK-South Korea outline free trade agreement signed by the Government this week is a big boost for Stoke-on-Trent’s ceramics sector, according to MP Jack Brereton.
The agreement allows businesses in Stoke-on-Trent and across the UK to continue to trade on preferential terms with South Korea.
UK-Korean trade was worth 14.6bn in 2018 – and 99 per cent of British exports were eligible to be exported tariff free.
In a boost for local businesses, South Korea represents the third largest export market for our ceramics sector.
Jack has been championing Stoke-on-Trent’s ceramics industries to Government trade ministers who are currently pushing to strike agreements with our trading partners around the world.
“We’re very lucky to have world-class businesses in the manufacturing and ceramics industries right here in Stoke-on-Trent.
“This week’s deal with South Korea provides a big and important opportunity for our prized ceramics industry once we leave the EU – it is the third largest export market for the sector.
“Brexit represents a huge opportunity for our innovators and job creators to trade freely across the world and this agreement is hugely positive for our exporters as we leave the EU.”
Both countries aim to ratify the deal in October and implement it in November.
This agreement comes as Jack recently uncovered figures showing that Stoke-on-Trent exported £492m of goods globally in 2017 – equalling to roughly £1.3m every single day.