GENEVA: UK businesses stand to lose access to a US$1.7 trillion (RM7.13 trillion) public procurement market if signatories to a World Trade Organisation accord this week block Britain’s application for membership, which will lapse after it leaves the European Union in March.
On Nov 27, the UK will seek admission to the 46-nation Government Procurement Agreement (GPA) in Geneva. Failure to rejoin the pact could prevent UK companies from bidding on government contracts in member nations, including the US$837bil US market. Each member has the power to block admittance.