Ministers are mulling the creation of a new generation of free ports once the UK’s customs arrangements are clarified
Ministers are considering proposals to create a new generation of free ports after the UK's customs status is resolved.
Prime Minister Theresa May said last month the UK would seek a new customs agreement with the European Union, with current terms effectively precluding new free ports.
However, City A.M understands the creation of ports outside of any future customs rules has already been raised at the highest levels.
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Ministers discussed the plans, promoted by the Centre for Policy Studies and Tory backbencher Rishi Sunak, at a cabinet meeting in the North West in January.
And sources say the government is keen to investigate the proposals further, once the question of the a new customs agreement is resolved.
A spokesman for Associated British Ports told CityAM that initial discussions were already underway with Liam Fox's department for international trade.
“It's something that we are looking to collaborate on going forward,” they said.
“Post-Brexit the attention is turning to the opportunities, and what are we going to do to maximise growth, and this is a major opportunity on the table.”
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Currently the UK's only free port is located on the Isle of Man, but because such sites are deemed to be outside of the country, goods can enter and re-exit the port without being affected by import procedures and tariffs.
A spokeswoman for the Department for International Trade said: “The UK’s ports provide British businesses with a gateway to the global market, with 95 per cent of Britain’s trade in goods currently moved by sea.
"As we seek to boost exports, we will continue to work with Britain’s ports to help secure our place as a global trading nation.”