Speaker: John Llewellyn, Partner, Llewellyn Consulting
The British banker and economist David Ricardo first elaborated the principles of free trade in the early nineteenth century by using the example of trade between England and Portugal. Even today, free international trade is considered desirable because it allows countries to specialise, in order to produce goods that they are relatively efficient at producing, while importing other goods. In the last couple of decades, transport and communication costs have decreased across the world, and preferential trade agreements have become more and more common, particularly among developing countries.
Never has international trade been quite so important for the survival of British companies. Indeed, in this increasingly interdependent world, it has become an economic necessity. No country is self-sufficient and are therefore dependent upon the imports of products from other countries. By exporting we can help to maintain our standard of living which, in turn, makes importing possible so that consumers have as wide a choice of goods and services as they want. Business leaders across UK, and globally, are watching within interest how their Governments react to this changing dynamic which will be topic of discussion at this lunch.
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