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“We can do what the trade people call in the jargon a short-form agreement, which is basically to continue to do with Britain what we have agreed to do with the EU as if you [U.K.] were still inside it,” he told BBC Radio 4’s Today Program on Friday.
Lee is attending the Asia-Europe summit in Brussels Friday to sign a new Singapore-EU trade deal, which will then need to be ratified by EU countries.
He said that agreeing the terms of the EU trade deal with the U.K. is something Singapore is prepared to do. “We hope we will be able to continue arrangements with Britain, whether or not it is inside the EU … and then we have time to work some better long-term arrangements over time.”
Lee said he has discussed such an arrangement with U.K. Prime Minister Theresa May, adding it would apply straight away, once the transition period ended.
“We are happy to buy your cheese,” he said.
Asked about his thoughts generally on Brexit, Lee said: “From an economic point of view, it’s hard to make the argument that you’ll be in a superior position outside the EU than in, but I fully understand you have other considerations which may outweigh the economic one.”
Lee also downplayed some Brexiteers’ view of a low-tax, low-regulation, post-Brexit “Global Britain,” saying: “I don’t know that it’s possible to model Britain on the same basis as Singapore.” [...]