More focus on trade needed

Jun 21, 2023

Reacting to Shadow Foreign Secretary David Lammy’s speech at today’s Trade Unlocked event, BCC Head of Trade Policy, William Bain, said: 

“If we are to build a stronger, more digital and sustainable trading future then it is crucial we look at all the possible ways we can do that.  

“This includes exploring new thinking on trade in services, regulatory reform, issues of alignment or divergence with the EU, and reducing business costs on exporting. 

“The BCC supports greater usage of our diplomatic capacity overseas, working in tandem with the Chambers Network internationally, to link businesses here with new customers or clients in exciting and emerging markets across the world.  

“If we are to reach the Government’s £1trillion export target as soon as possible we need to make trade more digital and scale up the sectors where overseas demand is growing. This should include financial, professional, travel and educational services, advanced manufactured goods, life sciences and pharmaceuticals.  

“The BCC’s analysis of the Brexit deal two years on also provides a strong foundation for achievable improvements on EU trade.  

“We need to look again at how we operate rules of origin, VAT arrangements, professional qualifications, regulatory co-operation and labour mobility.  “This is in the interests of businesses in both the UK and the EU. The Trade and Business Commission has produced recommendations which amplify our findings. We look forward to future engagement in Westminster, Brussels and among EU member states to develop our common trading and economic ties.” 

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