My top five priorities for trade

Earlier this week, I met businesses, investors and international partners at Lancaster House. I heard directly from exporters about what they need to thrive, from investors about their confidence in UK plc and ambassadors about boosting our trade relationships. As I made clear in my speech (teaser here), if you are an exporting business not getting the support you need, let us know. If there are things we should be doing differently, tell us.

As Trade Secretary, I am your problem-solver-in-chief. DIT should be the department of economic growth. But government departments don’t create growth themselves – businesses and entrepreneurs do. What my department can do is unblock trade, offer support and create opportunities for businesses to seize – growing and creating jobs in the process.?

So how are we going to deliver on those opportunities? How will we facilitate that secure and free trade environment that the UK – and the world – needs???

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Here are my top five priorities for the year ahead:??

#1

Remove trade barriers – DIT will knock down 100 unnecessary blockers standing in the way of helping UK businesses sell more and grow more, creating new jobs and paying higher wages.

We have already made progress. Last year, we opened up the Chinese market to cosmetic companies who sell cruelty-free products – that’s a half a billion pound opportunity for British business.

#2?

Grow UK exports every year until we hit our Race to a Trillion - selling over a trillion pounds of goods and services to the world a year by 2030.

Whatever you have read in papers today, the fact is that UK exports are growing – and even to the EU.

Exports are currently at over ￡800 billion – and that doesn’t happen by accident. We set the challenge of accelerating the race to a trillion to push companies to export, creating more jobs and increasing wages, and that is why it's my second priority.?

#3?

Make the UK the undisputed top investment destination in Europe - attracting new investment into communities and helping to level-up the country.????

The UK is a leading destination for foreign investment. However, this position is not a given. There is fierce global competition for every pound of finance.

I want to make the UK the most attractive place to invest in Europe, enticing companies from across the world to put their money into communities across the country.??

#4?

Seal high quality deals with India and CPTPP - a combined market of 2 billion consumers - opening exciting opportunities in fast-growing markets for years to come.? ?

But I want to be clear that just signing on the dotted line is not the objective. These deals will only be agreed if they are the right deals for the people of this country. Bringing in jobs and investment to left-behind communities and capitalising on those areas in which we specialise.

#5?

Defend free trade - and make the world more secure by strengthening supply chains and standing up to protectionism.?

We are a trading nation at heart and by tradition. So we know that free trade is the surest way to prosperity that the world has.?

Because the success of business is the success of the British people – more jobs, higher pay, and better lives.

So there’s the plan. I’m excited to deliver on this for the UK, and I hope any businesses out there are just as excited about seizing new opportunities on the horizon. Let me know what you think of these priorities, and do get in touch with my department if you need support on your business journey.