Britain’s Brexit minister pitches for inclusion of financial services into free trade deal with the EU

Michel Barnier, EU’s Chief Brexit negotiator, had ruled out knowledge of an unfettered access to financial services in any trade deal with Britain.

On Tuesday, Britain’s Brexit Minister David Davis stated that its financial services sector wants to be part of the ongoing trade negotiations with the European Union.

Britain wants the trade deal to cover the entire gamut of its economic spectrum, said Britain’s Brexit minister David Davis on Tuesday.

Any deal that left Britain’s financial services out would amount to “cherry picking”.

His comments come in the wake of Michel Barnier, EU’s Brexit negotiator casting doubt on the inclusion of financial services in a free-trade deal.

“We are looking at the full sweep of economic cooperation that currently exists and determining how that can be maintained with the minimum additional barriers or friction,” wrote Davis in the Daily Telegraph while adding that the principles of a trade deal in goods could be applied to the services sector as well.

“I do not believe the strength of this cooperation needs change because we leaving the European Union, so long as it is understood that this involves working together, not simply rule taking. These principles can be applied to services trade too,” wrote Davis.

In December, Barnier stated he was not aware of any free-trade deal which included unfettered access for financial services.

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