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<p>We have to recognise that the UK is not immune to problems elsewhere in the world.
The UK has one of the most open economies in the world through trade and financial
channels. In particular, growth in the euro area – our largest trading partner – is
weak and we have to expect that to dampen our own recovery.</p><p> </p><p> </p><p>
</p><p>Since entering office, this Government has worked consistently towards a rebalancing
of the UK economy and growing our trade with all parts of the world, including key
emerging markets. Since 2010, for example, UKTI has increased the number of its overseas-based
staff working outside the EU from 875 to 1060, reflecting the growing priority being
given to non-EU markets; and, excluding aircraft, nearly all of the exports supported
by UK Export Finance in recent years have been to markets outside the EU. Ministers
continue to take an active role, including through the Chancellor-led annual Economic
and Financial Dialogues with India and China, the most recent of which secured £2.4
billion in bilateral investment deals.</p><p> </p>
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