The United Kingdom’s withdrawal from the European Union, which became official on Jan. 31, may prove opportunistic for Wisconsin’s trade industry, according to a Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) official.
Mark Rhoda-Reis, director of the International Agribusiness Center at DATCP, said Wisconsin hasn’t been as focused on the U.K. in the past because of the size of its market, but that could be shifting as the country breaks away from the EU.
In agriculture and food products alone, the U.K. imports about $55 million worth of goods from Wisconsin. Rhoda-Reis said there’s room for growth, because the U.K. imports several billion dollars worth of agriculture and food products — about 73 percent of which comes from the EU, he said.
“Wisconsin has a lot of room to grow in that, considering that we’re only $55 million of that several billion dollar import,” he said, noting there’s especially room to grow in soy sauce and yeast exports, as well as bull semen, wood, animal feed, meat and packaged vegetables.