The Department for Business and Trade (DBT) is looking for businesses and individuals to share their views on its upcoming trade strategy.
As part of the new government’s developing economic plans, DBT is working on a trade strategy document, which will set out how the UK can achieve long-term “sustainable, inclusive” and resilient growth through trade.
The trade strategy is expected to be published early next year.
Issues
The issues the strategy could cover include:
- How the government can facilitate trade for businesses and provide practical tools to support them to drive growth through trade, both now and in the future
- How DBT can build the right partnerships internationally through trade mechanisms to promote growth
- How the UK should operate in the international context to support and protect businesses
DBT said:
“We want to hear from organisations, businesses and individuals about the areas of trade which are important to them.
“This feedback will be used as one of the channels to ensure the voice of external stakeholders is reflected in our approach.”
Chartered Institute perspective
Grace Thompson, the Chartered Institute of Export & International Trade’s UK public affairs lead, welcomed the news:
“The invitation for organisations, businesses and individuals to input to the government’s forthcoming trade strategy marks an important moment for the international trade community.
“This strategy will set the tone for long-term trade policy priorities and is a chance for government and industry to work together to shape a variety of areas, including practical measures for supporting exporters and setting a forward-looking vision for international engagement.”
Thompson added that the Chartered Institute will be submitting a response to government, through which it will seek to represent its members’ views.
She looks forward to “collaborating with our valued membership community” as we “support the government in formulating a truly epoch-making trade strategy”.
The Chartered Institute will be reaching out to members soon. In the meantime, they can get in touch via publicaffairs@export.org.uk to ask questions and share comments.
How to get involved
Other interested parties can share their views by emailing tradestrategyengagement@businessandtrade.gov.uk.
This can be done via a PDF or Word document. If the document is over 1,000 words, it should also include a summary in the body of the email.
DBT is also asking for background information on the business or organisation submitting the message and for submissions to “consider the areas you think are most important and recommendations on how these can be addressed”.
The closing date for submissions is 17 January 2025.
Background
A trade strategy has been promised by the Labour administration since it assumed government in July – a sentiment echoed by the Chartered Institute’s director general Marco Forgione at the organisation’s Labour’s Party Conference event in September.
In October, chancellor Rachel Reeves and DBT secretary Jonathan Reynolds revealed the industrial strategy green paper, promising to “create a pro-business environment and play to the UK’s strengths”.
In the paper, the government promised to align this industrial strategy with the upcoming trade strategy as part of an overall ‘joined-up’ approach to economic growth.