皇冠体育app

皇冠体育app UK is well-placed and ready to seize the global opportunities of future trade, International Trade Secretary Liz Truss will say today (14 Sept).

In a speech to the Policy Exchange thinktank, Truss will set out the next phase of the UK鈥檚 trade strategy and explain why it is time to 鈥渕ove from defence to offence in trade鈥� in order to drive a free trade revival in regions outside London and deliver the Government鈥檚 levelling up agenda.

She will set out how her Department will target trade deals with the fastest-growing parts of the global economy and ramp up support for exporters to help them seize new opportunities. She will say 鈥渢he status quo is not an option鈥�, and outline how her trade policy will open new trade routes beyond Europe.

皇冠体育app UK is already making significant headway in building more successful trade routes with the largest growing economies in the Indo-Pacific. 皇冠体育app UK has already launched negotiations to join one of the world鈥檚 largest free trade areas, the Trans-Pacific Partnership, and will shortly kickstart negotiations with India, as well as Mexico and Canada.

皇冠体育app scale of the future opportunities is laid bare in a new report published by the Department for International Trade - the Global Trade Outlook 鈥� which identifies two major trends that underpin the UK鈥檚 strategic approach:

1) 皇冠体育app centre of global economic gravity is moving away from Europe and towards the Indo-Pacific.

By 2030, 3 of the 4 largest economies in the world will be in the Indo-Pacific region. 皇冠体育app region will account for 56% of global GDP growth and 44% of global import demand growth over the next thirty years.

2) Global demand for industries where Britain prospers is set to boom:

Demand for UK high-value industries such as digital and financial services will double in the next decade with demand for digital services expected to grow by 117%.

Ahead of the speech Liz Truss, International Trade Secretary, said:鈥�

In order to seize the opportunities of the future, we need to grow trade with the fastest-growing parts of the world while turbocharging digital and services commerce 鈥� which is exactly what we鈥檙e doing.

We are building a global network of next generation trade deals that are advanced in services and digital trade, and forging closer economic ties with markets in East Asia and the Asia-Pacific.

We know the demand for high-quality British goods and services exists, and is growing, therefore we need to ready British businesses for export and bolster inward investment across the country; creating new jobs, business and growth.

With just 1 in 10 British firms currently selling overseas, the International Trade Secretary wants to encourage more to export and make exporting the 鈥渘orm for UK businesses鈥�.

鈥溁使谔逵齛pp path to economic revival does not lie in retreating and retrenching,鈥� she will argue, 鈥渂ut in free trade and free enterprise. British employers can only benefit from free trade by selling their products, innovation, capital, and ideas overseas鈥�. Recent research shows trade disproportionately benefits consumers on the lowest incomes, as tradable goods and services are disproportionately consumed by those less well-off.

DIT is stepping up its export support across the country via its UK Trade and Investment offices and new Export Support Service. It is also attracting the world鈥檚 top investors, via the Office for Investment and the UK鈥檚 first Global Investment Summit.

Truss believes the UK鈥檚 forward-looking, liberalising trade strategy will lead to British businesses becoming high-wage, high-growth and high-productivity, which will drive the UK鈥檚 future economic success in the industries and economies of tomorrow.