MOSCOW (Sputnik) – The United Kingdom will keep the commitments to the World Trade Organization (WTO) it has as part of the European Union after it leaves the bloc, in order to minimize disruptions to global trade, UK Secretary for International Trade Liam Fox said Monday.
“The UK’s WTO commitments currently form part of the European Union’s schedules. When we leave the EU we will need UK-specific schedules. In order to minimise disruption to global trade as we leave the EU, over the coming period the Government will prepare the necessary draft schedules which replicate as far as possible our current obligations,” Fox said in a written statement to the parliament.
He noted that it was a vital part of Britain's withdrawal from the European Union.
On June 23, the United Kingdom chose in a referendum to leave the European Union. UK Prime Minister Theresa May stated that the country would trigger Article 50 of the EU Lisbon Treaty by the end of March 2017, thus starting withdrawal negotiations.