This new strategy ushers in an era of a more coordinated approach to trade, and now the government must make it count.
“In particular, using the UK’s overseas networks to unlock the potential of cross-border trade deals is central to the strategy’s success.
“Services account for 81% of the UK economy, so it’s crucial the approach to trade capitalises on the UK’s enviable global status as a services powerhouse, with financial, professional and businesses services at its core, and aligns closely with the new industrial strategy and the eight sectors it’s prioritised for growth.
“We’re also pleased to see the enhanced focus on the mutual recognition of professional qualifications, something we’ve called for consistently. It’s very important that the UK becomes more open to recognising professionals who’ve qualified in other countries, and this requires more flexibility in how recognition agreements are struck. However, this will only work if an attractive sounding headline deal can be translated into genuine mobility for people on the ground, while provisions on temporary mobility also need to be factored in.
“The government’s pledge to simplify exporting for SMEs is also a plus. These businesses are a major driver of growth, but it is a reality we hear from members that exporting to our closest trading partners in the EU had become too difficult.”
ENDS
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