The UK could benefit from £10bn worth of exports a year to a group of emerging economies, according to a study by Standard Chartered bank.
Annual UK exports to the ‘Emerging 7′ (China, India, Pakistan, Nigeria, Bangladesh, Vietnam and Indonesia) are currently worth £24bn.
But the bank, which specialises in financing international trade, thinks that it could be £34bn a year.
Standard Chartered urges the UK to orientate its Emerging 7 (E7) trade policy accordingly.
Michael Vrontamitis, the bank’s head of trade for Europe and Americas, said: “With the UK settling into a slower pace of growth and Brexit on the horizon, UK businesses need to look more widely for growth.
“It is clear that the E7 countries represent multi-billion-dollar trading opportunities for the UK and British businesses searching for export diversification and growth.’
