Britain Could Be Like Turkey and Stay In Customs Union after Brexit, Liam Fox Says

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(Reuters) – Britain may need a transitional agreement to smooth its exit from the European Union but it should not “buy back” into too many of the bloc’s regulations, Britain’s trade minister Liam Fox said on Sunday.

Fox, who campaigned for a Brexit vote in June’s referendum, also indicated he was seeking a flexible approach on trade to try to ensure the best deals for the British economy.

Businesses and investors have raised concerns that Britain faces a “cliff-edge” at the end of Brexit negotiations and finance minister Philip Hammond has backed the idea of a transition period.

Asked in a BBC interview whether he supported such a plan, Fox said: “That depends what the actual arrangement is as we come to leave the European Union and the timescale needed to implement it.”

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