Britain and Spain Brexit 2

The UK and Spain are key trading partners

The UK could become a “quasi-independent global trading hub” and “Europe’s version of Singapore” after Brexit, Spanish business leaders have said.

They were speaking at a UK-Spain business forum held at Mansion House in London, attended by Spanish business representatives from sectors including telecommunications and IT, the Telegraph reported.

Minister for International Trade, Liam Fox, also spoke at the event, which was part of a state visit by the Spanish King to the UK.

The UK could echo “the success of Asian economic power Singapore”, the Telegraph said, while its status as an attractive place to do business could help it succeed once it leaves the EU.

The Telegraph reported that Gerard Lopez, president of Spanish IT company Plexus, said: “The economy, its geographic location and a currency that is respected could make the UK the hub that has the advantages of a certain independence. There’s a role to be played as a quasi-independent.”