Derek Vaughan MEP

Working hard for Wales in Europe

Welsh MEP says EU membership is vital for UK trade

Derek Vaughan MEP has welcomed figures released by HM Revenue and Customs that show the UK’s exports to the EU in August alone were worth an impressive £11.5 billion.

Mr Vaughan said:

"With 50 percent of the UK’s exports going to the EU, it is clear that this partnership is very important to our economy.

Many people don’t realise the sheer volume of goods that we sell to other EU countries. It is a huge market and we’re exporting almost every product you can think of, from cereal, cork, petroleum, transport equipment to footwear.

In 2012 we exported more than £2.6 million in beverages alone to EU countries. We also exported £12.2 billion worth of medicinal & pharmaceutical products and more than £1.3 billion in meat products.

This is a market that is already doing very well, but also has huge potential for growth.

Trading with the EU supports millions of British jobs and keeps thousands of British businesses afloat.

Leaving the EU would put all of this at risk. That's why it is in our best interest to have a seat at the table where regulations over these sales are decided in order to protect and grow our export figures.

There are around 100,000 British businesses selling to EU countries and if we left the EU, they would just have to sit back and accept whatever regulations were made in Brussels by other EU countries."

Mr Vaughan added:

"The European market is the world's biggest and that's important because it's size can be used to broker agreements with new markets. This will be essential in future as we will increasingly be relying on trade with emerging economies like China and India."

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