The UK’s trade policy post Brexit is a hotly debated issue with the subject featuring at a Conservative Party Conference event yesterday hosted by The Heritage Foundation. Speakers included Liz Truss MP, Secretary of State for International Trade, GENN chairman Shanker Singham and UK trade adviser Daniel Hannan.
Shanker drew on our recent GENN report and argued for “opening up business travel and business routes with key markets and not to close them in the way that we have been doing. We need to have supply chains where we have a bit more visibility. And we need to embrace concepts like the UK’s idea of freeports and free zones because that is the way at a sub national level you can experiment with some of these regulatory framework improvements and regulatory sandboxes to make the regulatory system much more competitive.”
Secretary of State for International Trade, Liz Truss struck an upbeat tone with regards to the UK’s future role in global trade. Truss highlighted the potential of the UK digital sector and how the new Japan trade deal will benefit that sector. A future US trade deal was something Truss spoke also enthusiastically about and how improving trade ties between the two countries could boost manufacturing and agriculture.
GENN supports these new trade deals which can be models for greater international trade in the future.
Read the full GENN report here