The UK’s Trade Strategy

This document marks a reset in the UK’s approach to international trade. Building on Free Trade Agreements (FTAs), it is designed to stimulate economic growth, through delivery of targeted business support and working with international partners to achieve mutual benefit through more agile agreements.

The Trade Strategy recognises the UK’s unique position as a services superpower while supporting our advanced manufacturing base in a rapidly changing global landscape. It also sets out how the UK will deliver economic security as well as growth through trade.

Key takeaways: 

• New Ricardo Fund: Unlocks billions for UK exporters by addressing regulatory barriers, shaping global standards, and easing market access.
• UKEF Boost: Increases UK Export Finance by £20B (to £80B), launches the Small Export Builder for SME protection, and streamlines repeat order financing.
• Trade Defence: Strengthens tools to protect UK businesses from unfair global practices with a more agile and accountable remedies system.
• Services Powerhouse: Pushes for greater mutual recognition of qualifications to enhance the UK’s global services leadership.
• Green Sector Growth: Expands clean energy deals with partners like Norway, Japan, and South Korea, while exploring new markets including Brazil, Mexico, and the Philippines.
• WTO Commitment: Announces the UK’s entry into the MPIA, supporting fair, rules-based global trade.