LONDON, Sept. 11 (Xinhua) -- Britain has initialed an economic partnership agreement with the Southern African Customs Union and Mozambique, which a government statement on Wednesday said will "allow business to keep trading freely after Brexit".
According to the statement, the British agreement will allow trade continuity on preferential terms with countries including South Africa, Botswana, Namibia, and Mozambique after Brexit.
"It also supports the economic development of these Commonwealth partners laying the foundations for new trade and investment in the future," it said.
The agreement will strengthen the trading relationship between two sides, with trade worth 9.7 billion British pounds (12 billion U.S. dollars) in 2018.
Liz Truss, Secretary of the Department for International Trade, said: "This trade agreement, once it is signed and takes effect, will allow businesses to keep trading after Brexit without any additional barriers."
"This is a major milestone as the UK prepares to become an independent trading nation once again, and we are helping businesses get ready to trade with the most exciting markets around the world," said Truss.
Katy Ransome, the UK High Commissioner to Botswana said: "This agreement in principle demonstrates our commitment to increasing trade with developing countries and boosting economies across Southern Africa and the UK."
"This new agreement, once it is signed and takes effect, ensures continuity in our 9.7 billion pounds trading relationship, allowing our businesses to continue supporting our mutual prosperity and economic development," Ransome said.
