Today (19 October) International Trade Secretary will convene
the first meeting of the revamped Board of Trade. The Board
will advise the government and DIT on its trade strategy,
provide intellectual leadership on trade policy, and help
Britain make the case for free and fair trade across the
world.
The Board is meeting to agree and discuss the principles
underpinning its work – which include a commitment to free
enterprise, the rule of law and high-standards trade – and
agree its future programme of activity.
It will produce a series of reports looking at the vital
issues facing international trade and Britain at the
moment. These will include:
- The role of trade in levelling-up Britain
- Combatting digital and data protectionism
- How trade can deliver an industrial revival
- Reform of the WTO and the global trading system
- Commonwealth trade
- How trade can help deliver the government’s green
objectives
The reports will be published quarterly from 2021 on key
trade issues and interests for the UK.
Domestically, the Board will advise how trade policy can
help deliver on the government’s commitment to level-up the
country and ‘build back better’ from coronavirus.
Internationally, it will look at Britain’s role in
reshaping the rules-based global trading system and how the
government could work with like-minded allies to dismantle
long-standing barriers to trade.
It will also work with businesses and communities across
the United Kingdom to help them identify and seize new
opportunities internationally as we make the case for the
importance of international trade in delivering increased
prosperity and opportunity. At a time of heightened
protectionism, it will sell the benefits of trade across
the UK, including the north of England and devolved
administrations.
The revitalised Board will become an intellectual lodestar
for the department, generating advice and providing
expertise to influence government trade policy.
Secretary of State for International Trade, , said:
This is a critical moment for the UK and our trading
relationships with the rest of the world. Our
re-emergence as an independent trading nation is an
enormous opportunity, but it also comes at a time of
rising protectionism amidst the challenges posed by
coronavirus.
The revamped Board of Trade will play a critical role in
helping us navigate and shape the new global trading
environment. Just as great British reformers helped drive
trade and prosperity in the nineteenth century, we want
the new Board of Trade to become the Cobden, Peel and
Bright of the twenty first century and push new frontiers
in areas like digital trade and the green economy, and
ultimately help Britain unleash its full potential
post-Brexit.
Dr Linda Yueh, economist at Oxford University, London
Business School and LSE IDEAS, said:
As the Board of Trade meets for the first time, I look
forward to contributing to trade policy at a critical
time.
The 21st century global economy offers both opportunities
and challenges. It will be important to position the UK
optimally amidst these changes and to craft policies that
will generate benefits across the UK.
Notes to editors
- The President of the Board of trade is the Secretary of
State for Department of International Trade.
The advisers are:
