The Institute of Export & International Trade today (21 April) published a ten-point action plan for UK trade policy at an online event featuring speeches from exports minister Graham Stuart MP, former trade minister Lord Green of Hurstpierpoint and the Institute’s chairman Terry Scuoler.
The UK can now set its own independent trade policy having left the EU in 2020 and has already signed free trade agreements with 67 countries.
IOE&IT director general Marco Forgione, who also spoke at the event, has called on the government to put trade policy at the heart of its domestic economy strategy, and for the country to pursue an export-led recovery from the effects of the Covid-19 pandemic.
'Build back better'
The Policy Platform’s ten recommendations include:
- the creation of a UK trade committee led by the Prime Minister
- the provision of simple integrated support tools for businesses
- linking trade policy to wider industrial and regional levelling-up strategies
Forgione said the paper’s suggestions can help the government to “build back better” from the impacts of Covid-19 and leaving the EU.
“The way in which government exploits its new-found freedoms, how it secures wide ranging trade agreements and its ability to forge meaningful trading partnerships will influence how we reshape the UK’s economy as we ‘build back better’ from the impacts of Covid-19,” said Forgione.
“Our ten-point action plan will create an environment which supports international trade and inspires more business leaders to export.”
'Truly Global Britain'
Graham Stuart MP also contributed to the Policy Paper, writing in its foreword:
“We will continue to work closely together as the Covid-19 crisis abates, helping to ensure businesses are able to seize the new international opportunities before them.
“I am confident that if we set the stage for UK businesses and exporters to unleash their potential, we can drive a resilient economic recovery levelling up the country, and meet our ambition of an open, outward looking, truly Global Britain.”
Download the IOE&IT Policy Paper and watch the launch event here: https://www.export.org.uk/page/policy_platform