Rail industry welcomes consultation on FTAs with Australia, New Zealand and the US
18 July 2018
Today, the Secretary of State for International Trade (DIT) announced there will soon be a fourteen-week public consultation on Free Trade Agreements (FTAs) post Brexit with Australia, New Zealand and the USA.
In response, Neil Walker, Exports Director of the Railway Industry Association (RIA) said:
“We welcome the news that DIT will soon launch consultations on FTAs with Australia, New Zealand and the USA. FTAs are a big opportunity for the UK rail industry, a sector which currently exports £800 million a year. FTAs could help the sector maximise its exporting potential, particularly as the USA and Australia were highlighted by RIA members as priority markets where more exporting assistance was needed.
“We look forward to working with the Government to ensure rail is a part of these FTAs, helping to increase exports and boost jobs, investment and economic growth.”
Notes to Editors
- About RIA: The Railway Industry Association (RIA) is the representative body for UK-based suppliers to the UK and world-wide railways. It has more than 200 companies in membership in a sector that contributes £36 billion in economic growth and £11 billion in tax revenue each year, as well as employing 600,000 people—more than the workforce of Birmingham. It is also a growing industry with the number of rail journeys expected to double over the next 25 years and freight set to grow significantly too. RIA’s membership is active across the whole of railway supply, covering a diverse range of products and services and including both multi-national companies and SMEs (60% by number). RIA works to promote the importance of the rail system to UK plc, to help export UK expertise around the globe and to share best practice and innovation across the industry.