LONDON (Reuters) -- There will be midterm and long-term opportunities from the UK's vote to leave the European Union for the auto industry, business minister Sajid Javid said on Tuesday.
"Because of last week's decision of course there are some short-term challenges for businesses, but we must also remember there are medium-term and long-term opportunities for business as well, and that includes the auto industry," Javid told parliament during a regular question session.
He also said that Britain should start "embracing" the opportunities provided by the Brexit, or Britain's vote to leave the EU.
"Free trade agreements with many more countries is just one of those [opportunities]. Australia, I think, is an excellent example. It is exactly the thing we should be working on," he said.