The government has ambitious plans to increase trade and deliver prosperity, and CBI members will welcome some of the pragmatic announcements designed to make trade simpler.
11 Mar 2020, 5 min read
For the first time in almost half a century, the UK has its own independent trade policy - and the government has ambitious plans to increase trade and deliver prosperity in response.
This starts with ensuring that trade is tailored to the needs of British firms and the British economy, with new export opportunities for UK firms, increased investment and additional jobs across the UK.
As per the government’s 2019 manifesto, the broad approach to deliver this is to:
- Negotiate free trade agreements (FTAs) covering 80% of UK trade within the next 3 years, starting with the USA, Australia, New Zealand and Japan
- Increase market access for British businesses by building stronger links to the Commonwealth
- Lower the costs to business of trading with emerging markets through enhanced export finance
- Help update the multilateral trading rules by leveraging our new independent seat at the WTO
- Incentivise inward investment through the delivery of ten new freeports arou
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