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British trade and the European Community. Speech by Christopher Tugendhat, Commissioner of the European Communities, to a meeting in Notre Dame Town Hall. London, 6 November 1980

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  • Economics


untitled SPEECH BY CHRISTOPHER TUGENDHAT, COrv!NISSIONER OF THE EUROPEP.N CONNUNI fiES TO A .t-1EETING IN NOTRE- DA~1E TOWN HALL, LONDON, ON THURSDAY 6TH NOVEf1BER AT 8~00 p.M. ,-- ~ BRITISH TRADE AND THE EUROPEAN CO~~lUNI • cf.- pr Success by British business in the Comrrion Harket is essential 1 to the future of Britain asa~major industria1 and trading nation. The Common Market contains most of our major markets and takes 42% of all our exports. It is now~ domestic market, the rules and framework of which we can from within the European Community help to shape, but which W)Uld still largely determine our economic succ.ess whether or not we were Members. If Britain can not succeed in the Common Market. she.· .. ci'Ji,nnot succeed anywhere else. It is time for us therefore to stop blaming our problems and our failures on the Coi'CUilunity, '[email protected] recognise what has been already achieved, and to prepa·re ourselves to take greater advantage in the future of the opportunities which the Community offers. THE INPORTANCE OF THE COMMON MARKET The increasing importance of the Common Market for British business is indisputable and easily illustrated. Trade between the UK and the other Hember States of the European Community has been steadily increasing since the UK became a member in 1973 - last year there was a particularly large increase of some 27% in two-way trade, and the EEC accounted for 42% of all UK exports and 45% of all imports. The Federal Republic of Germany displaced the United States as Britain's largest export rnarket and ·all the other Member States except Luxembourg were among the UK's ··1 ten biggest markets. ~ """"' :. '""' These figures ./. collsvs Text Box collsvs Note Completed set by collsvs collsvs Text Box collsvs Note Completed set by collsvs User Rectangle User Rectangle User Rectangle These figures can be put in perspective by pointing out 'that the Commonwealth now takes only about 1

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