Chancellor Rachel Reeves today meets finance ministers from Europe, Canada and Ukraine in Copenhagen in a further sign of closer relations with the European Union.
The talks will focus on defence, trade and investment and build on the UK government’s attempts to reset relationships with EU countries and the May UK-EU Summit.
The Chancellor will take a seat at the table with the finance ministers responsible for economies within the UK’s biggest trading partner.
“The EU remains our biggest trading partner,” said Ms Reeves. Our economic future is tied to Europe’s and we want to do more. More trade. More investment. More partnerships with countries that share our interests.
“Economic growth and UK security cannot be separated. Together, we are creating a safer, and more prosperous Europe.”
The Chancellor will recognise that the global economy has changed since last year’s meeting in Brussels. She will push for fair, enforceable trade rules and renewed shared action, noting that growth, productivity and higher living standards are collective goals.
The EU is the UK’s closest partner and biggest market. In 2024, almost half (46%) of the UK’s total trade was with the EU. Around 94,500 UK businesses exported goods to the EU, and around 157,000 businesses imported goods.
However, Labour has said there is no prospect of the UK rejoining the single market or customs union, though there have moves to improve the mobility of workers and ease regulation around border controls on goods.
Ms Reeves will reiterate that the UK remains committed to securing a just and lasting peace in Ukraine, with £4.5 billion being spent on military support to Ukraine this year – the UK’s highest ever level.
She will call for better coordinated action against Russian aggression by using UK and EU advantages in the global financial system to provide more support to Ukraine.
#Reeves #edges #closer #finance #meeting #Daily #Business