TEESPORT could be an ideal location for a free trade zone to take advantage of international business opportunities after Britain leaves the EU.

Rishi Sunak, MP for Richmond and the author of a recent report on the potential of free trade areas around ports to boost post-Brexit Britain, said the port had all the qualities needed to make his idea work.

He recently visited the port to see the first-class facilities and meet its senior executives.

The port is now the fifth largest in the UK by volume and its container traffic has been growing at 12 per cent annually over the last seven years

Mr Sunak said: "Teesport has superb, world-class facilities on a large site with access to a high-quality labour force. It would be the ideal port to establish a free trade zone."

Mr Sunak’s report The Free Ports Opportunity was published by the Centre for Policy Studies in November.

In it, he argues that creating one or more "free ports" in the North of England could be key to re-balancing the North-South divide and boost manufacturing in areas with some of the UK’s greatest economic problems.

New tariff-free trade zones around existing ports – like Teesport – would allow manufacturers on site to import and export without paying any duty and customs charge.

Mr Sunak said the availability of the former SSI steel plant site at Redcar – directly adjacent to Teesport – was potentially a "massive opportunity" for Teesside if the land was zoned as a free trade area.

"There are 1,400 acres of industrial land right next door to one of the best ports in the country," he said. "While the site has still to be cleaned up, it represents a great manufacturing opportunity for the area."

Already successful in the USA,?free ports?would provide a fast response to Brexit that?would increase manufacturing output,?reinvigorate the North, and?promote trade.

Free Ports?are areas that, although?inside?the geographic boundary?of a country, are considered?outside the country for customs purposes. This means that goods can enter and re-exit the port?without incurring usual import procedures or tariffs?– incentivising domestic manufacturing.?

Mr Sunak had been invited to visit Teesport by David Robinson, PD Ports’ group chief executive, and Jerry Hopkinson, managing director, bulks and port services.

Mr Robinson welcomed Mr Sunak’s interest in PD Port’s Tees and Hartlepool operations.

He said: "Teesport is a national asset for trade as well as a key economic driver in the region and enabler of the Northern Powerhouse.

"Ports are critical to the performance of the entire UK economy and we would welcome any opportunity to engage in direct dialogue with Government that could potentially enhance the region’s international trading prospects."