Business leaders urged to have their say on the UK’s future trade agreements

The Department for International Trade is calling for people to have their say, following a business roundtable event in Manchester. From Evening Standard news

Posted by Times News on Monday, 24th September 2018

Businesses across the North West can now have their say about how the UK should capitalise on new opportunities to forge trading relationships with the rest of the world as we leave the European Union.

The Department for International Trade drew attention to the consultation, which is open to members of the public, at a roundtable event in Manchester.

The event focused on our future trading relationships with the USA, Australia, New Zealand and potential accession to the Comprehensive and Progressive Trans Pacific Partnership (CPTPP).

Exports of goods to the USA, Australia, New Zealand and the Trans Pacific Partnership countries were worth £5.83 billion for the North West last year and accounted for £1 in every £5 of the region’s goods exports.

Getting free trade agreements with these countries right is major ambition by the government in its bid to increase exports to 35% of GDP.

The first of four consultations closes on October 26 . The International Trade Minister George Hollingbery urged people across the North West to take part in the online consultations.

“For the first time in over 40 years we will be able to determine the terms of our trade," he said. "That means new trade agreements with our key partners, as well as putting the UK at the heart of the world’s fastest growing regions such as Asia.

“The North West has sectors ready and waiting to benefit from these deals and many are already taking important steps with the support from DIT.

“We are committed to forging new trading relationships that create jobs, boost our vital industries and benefit consumers across the whole of the UK.

"I urge people across the North West to seize the opportunity to visit consultations.trade.gov.uk to make their voices heard.”

The event in Manchester, which was attended by Lee Ali, MD of Expo Stars Interactive and Ed Salt of Delamere Dairy, was co-organised by British American Business, a network of 500 US and UK companies promoting transatlantic trade and investment.

The event in Manchester, which was attended by Lee Ali, MD of Expo Stars Interactive and Ed Salt of Delamere Dairy, was co-organised by British American Business, a network of 500 US and UK companies promoting transatlantic trade and investment.

Emanuel Adam, director of policy and trade at British American Business said: "British American Business is delighted to be partnering with the Department for International Trade on its UK-wide roadshow as the Government sets out to learn from business how to shape the UK‘s future trade policies with markets such as the USA, Australia, New Zealand and CPTPP.

"BAB has been proud to work with DIT and wholeheartedly shares its mission, which is to use international trade as a vehicle to bring prosperity and growth to our economy, businesses and workers.”

Exports of goods from the North West last year were worth £28.7 billion.

The export of services from the North West was worth an additional £17.6 billion in 2015, the latest year in which data is available.

More than one fifth of goods exports from the North West – £5.83 billion worth – are covered by the consultations, with the USA being the North West’s largest export market accounting for 13.6% (£3.9 billion) of goods by value and the CPTPP countries accounting for a further 6.7% (£1.9 billion) of goods by value.

Editor: Jian Ping Sun



Belt and Road Portal

- is a development strategy proposed by China's paramount leader Xi Jinping that focuses on connectivity and cooperation between Eurasian countries.

China Import Export Fair

- or Canton Fair is a trade fair held in the spring and autumn seasons each year since the spring of 1957 in Canton, China.

Department for International Trade

- is a United Kingdom government department responsible for striking and extending trade agreements between the United Kingdom and non EU states.
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