Correction: Davos-The Latest story

DAVOS, Switzerland – In a story Jan. 19 about the World Economic Forum, The Associated Press reported erroneously that WTO director-general Roberto Azevedo said Britain would leave the trade body once it exits the European Union. In fact, he said it would have to renegotiate its obligations with WTO members, not the trade body itself.

A corrected version of the story is below:

The Latest: Question marks over Britain’s WTO future

Roberto Azevedo, director-general of the World Trade Organization, said it’s not inevitable that Britain will rejoin the body that oversees global trade soon after it leaves the European Union

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6:50 p.m.

Roberto Azevedo, director-general of the World Trade Organization, said Britain will have to renegotiate its relations with other members of the body once it leaves the European Union.

Speaking at the World Economic Forum, Azevedo said Britain will remain a member of the WTO even after it leaves the EU, which is expected in the spring of 2019. But he said the “terms of the divorce” with the EU will determine what happens with Britain’s obligations with the WTO’s members.

The country could just “cut and paste” the trade obligations it currently has as an EU member. If it wants changes to its trade terms, that would involve more talks, Azevedo noted.

Cecilia Malmstrom, Europe’s top trade official, said a transition period may be needed after Britain’s EU exit so a trade deal with the EU can be negotiated. She said it’s hard to say how long trade discussions will take — a recently concluded one with Canada took seven years. However, “it won’t be done over a weekend,” she said.