Quite often hear the statement we can leave the EU and trade under WTO rules most of the worlds non EU countries do.
The meme above even states....
"WTO rules are what most great countries trade under. If its good enough for Australia, America and Canada, its good enough for the UK!"
If Richard Tice actually said this it's misinformation and blatantly not true, there are very few countries that trade solely on WTO rules alone. Certainly Australia, Canada and America don't.
In fact, and I do like facts if I can find them, there is only one country that trades solely on WTO rules and that country is ..........................
Mauritania
Ever heard of that country? must be big players?
Although, hang on .....it seems that even that is not 100% factual. Mauritania as a member of ECOWAS and WAEMU has an economic partnership agreement with the EU.For those of you not familiar with Mauritania, it’s GDP is $4,714million (0.2% of the UK’s), 50% of its exports consist of Iron Ore, and between 1% and 17% of the population still live in slavery.
In fact there isn't one country that trades solely on WTO rules.
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