As the UK continues to drift away from the EU it becomes increasingly important to seek out new geopolitical alliances and trading partners. The Tories have pivoted towards the US to fill this role. However, with its scepticism of globalisation and lack of credibility the Trump administration is hardly an ideal ally. Instead we should turn towards Canada, Australia and New Zealand and form a “CANZUK Union”.
The CANZUK Union would be led by a Council of Prime Ministers and built on three pillars: free trade, freedom of movement and intergovernmental cooperation. A trade deal would strike down tariffs and regulatory barriers but not create a customs union. This would allow each member to pursue its own regional trade deals. The existing travel agreement between Australia and New Zealand (1) would be extended to involve Canada and the UK. Building on Five Eyes and NATO arrangement committees of government ministers would cooperate on areas such as defence, security and foreign policy.
This new union is not intended to replace EU membership. Over 50% of our imports come from the EU, compared to 3% from Canada, Australia and New Zealand combined. Of our exports, over 40% go to the EU compared to 3% to the CANZ countries (4). Geography determines who we trade with most, and we can’t just move Britain to the Pacific.