"Leaving the EU offers us an opportunity to forge a new path at our own pace…Importantly, for everyone here today, leaving the EU offers us an opportunity to broaden and deepen our trade and investment relationship with our close friends and important partners around the world, including the Philippines and the wider ASEAN region," Sharma said at a UK-Philippines trade and investment event, as quoted by the Foreign Office.
The results of the June 23 referendum, which spelled Brexit for the United Kingdom, will mean developing the country's international relationships, the minister added, stressing that new trade agreements will need to be negotiated.
"The UK has made clear to the Philippines Government and business community that we are steadfastly committed to economic openness, and we have made the case to them for opening up the market to foreign investors, including in sectors that are currently restricted," Sharma said at the event, which was attended by the Philippine ambassador.
The issue of negotiating a post-Brexit trade deal with the European Union, as well as with the United Kingdom's important non-EU trade partners, has come to the forefront in the wake of the referendum.
