Under the new Labour Government, Trade Secretary Jonathan Reynolds is set to deliver trade negotiations with international partners, including the Gulf Cooperation Council, India, Israel, South Korea, Switzerland, and Turkey.
The new Government are planning to launch a new trade strategy to help deliver its growth mission, where UK business and economic growth will be at the core. The UK was the world’s 4th largest exporter back in 2022, with British goods and services in high demand across the globe. Today, the government’s mission of putting economic growth as one of their primary objectives is to improve the livelihoods of hardworking British people.
Restarting talks is the first step towards agreeing the high-quality trade deals the UK needs to give businesses access to international markets, boost jobs and deliver that growth.
FTAs are not the only tool to drive economic growth through trade. The Government also plans to publish a trade strategy which aligns with our industrial strategy, enhances our economic security and supports our net zero ambitions.
Through this trade strategy, resetting our relationship with the EU, supporting more small businesses to export and tearing down unnecessary barriers to trade, jobs and communities will be supported in every part of the UK.
Business and Trade Secretary, Jonathan Reynolds, commented: “Boosting trade abroad is essential to deliver a strong economy at home. That’s why I’ve wasted no time taking stock of progress and getting ready to press on with trade talks with our international partners.
From the Gulf to India, our trade programme is ambitious and plays to the UK’s strengths to give British businesses access to some of the most exciting economies in the world.
Our teams will be entering negotiating rooms as soon as possible, laser-focused on creating new opportunities for UK firms so they can support jobs across the country and deliver the growth we desperately need”.
Setting out ALFED’s view on the new proposed new trade strategy, Chief Executive Officer Nadine Bloxsome, commented: “The Aluminium Federation (ALFED) welcomes the UK Government’s latest announcement on driving forward trade talks to ‘turbocharge’ economic growth. This proactive approach to enhancing trade relations is a significant step towards ensuring the competitiveness and sustainability of the UK aluminium manufacturing and processing sector.
ALFED’s UK Manifesto underscores the importance of strategic trade policies, investment in new technologies, and the development of a skilled workforce to secure the future of our industry. These government-led trade initiatives align with our policy asks, particularly in ensuring that rules of origin are clear and supportive of UK manufacturers, and that favourable trade agreements are established to benefit our sector.
As we continue to advocate for a robust aluminium industry within the UK, we look forward to collaborating closely with the government to realise these goals and drive the economic growth of our industry.”
To read the full news story on the Gov UK website, please visit: New Government drives forward trade talks to turbocharge economic growth – GOV.UK (www.gov.uk)
