A few tumultuous years ago, when the Brexit Leave campaign was in its pomp, one of the major arguments in favour of the UK leaving the EU was the ability for Britain to forge its own trade deals. It was, at least, theoretically and partly true.
The EU had never managed to reach trade agreements with the United States, nor the then fashionable “BRIC” – substantial, fast-growing emerging economies such as Brazil, Russia, India and China. The “golden age” of a new relationship with China was almost upon us. With the UK hitched up to such powerful dynamos, it would soon make up for lost trade from leaving the single market and customs union. A few sentimental souls dreamed of reviving partnerships in the Commonwealth of Nations. It would all boost national income and prosperity. Global Britain beckoned.
It’s only fair to observe that it has not quite turned out like that. Indeed, so embarrassed is this “get Brexit done” government about a central failure of policy that it is too shy to share with the public the benefits of the new trade treaty with Israel. Though advanced in some important sectors, Israel remains a relatively small economy, so perhaps not so much can be expected of the deal in the context of the size of the UK economy.
