Something that is good for everyone.

Free trade.  It is good for everyone.  Not least the poor.  It lifts people out of poverty.  It transforms communities and nations.   And free trade has arguably created more prosperity than any other concept within economics argues Max Rangeley of The Cobden Centre.  The vision of the centre is “A peaceful, open and free society based on a stable, sustainable economy in which everyone has the opportunity to participate in constantly growing real prosperity”.  That seems not too much to ask for.  Or does it?   

Norway.  Singapore.  Switzerland.  Hong Kong.  Four of the wealthiest countries in the world.  What unites them, apart from being the wealthiest countries on the planet, is they have the freest trade.   Interestingly, none of them are part of any political union such as the EU.   

The European Union-Singapore Free Trade Agreement (EUSFTA) is the first FTA concluded between the EU and an ASEAN country. The agreement will come into force after it is signed and ratified by both parties.  But it is not subject to freedom of movement or the rights of the European Court of Justice taking precedence over the courts of Singapore.   

So, a pause for thought as we consider what is going in in the so called negotiations the UK is having with EU at the moment.  They are not about trade.   They are about political and legal control.   

My question is, why should the UK be treated in any way different to Singapore?  It’s because the EU does not want a relationship based on free trade with its former Member.  It wants to continue a system based on trading in a controlled way across a political union.  But that stifles innovation.   

Free trade has brought about innovation in almost all sectors of the economy. A study by the University of Oslo last year found that free trade brought substantial increases in innovation around the world, benefiting all of us.   

Perhaps most importantly, with trade generally comes peace, and history shows us long periods of peace have mostly been brought about by increasing free trade.    

As we break free from the shackles of the political trade barriers in the EU, let us hope Britain can set an example to the world in how we trade with all nations. Perhaps the rEU will follow our lead, but don't hold your breath!   If the EU has any sense it will immediately prioritise free trade and come back to the politics later.  That’s if it really cares about the prosperity of the people in the rEU.  On its record to date I suspect it doesn't.