Reports Trade for All: A Principles-Based Framework for UK Trade
Trade for All: A Principles-Based Framework for UK Trade
THE OPPORTUNITY TO DO TRADE DIFFERENTLY
The UK has an opportunity to design a trade policy that creates a UK economy that is prosperous, fair, and green, and which is guided by the long-term interests of UK citizens and future generations, rather than short-term imperatives.
The UK is a sizeable economy on the global stage and has an opportunity to help shape the future of the global trading system to ensure it rises to the opportunities and challenges that confront us. The UK’s trade policy can help harness the opportunities of the digital econo- my, tackle climate change and achieve the UN Sustainable Development Goals including building back better in the wake of the COV- ID-19 pandemic. As G7 and COP26 hosts, and attending its first WTO Ministerial Conference as an independent member at the end of 2021, the UK has a rare opportunity to help set a path forward for the global community. It can work with other countries to advance a values-led agenda, raise standards, promote a more equitable and greener global trading system, ensure developing countries are priori- tised, and foster constructive dialogue between countries.
With a carefully developed, clearly articulated and joined-up trade framework, the UK government can improve the international trading environment. This framework should strive to create trade deals that generate shared prosperity, both at home and around the world, as well as promote climate security. The UK needs a clear, consistent and transparent trade framework which sets out an overall vision and explains how this will be achieved. It should articulate the positives and negatives for each sector and clearly communicate this to the public. Trade can generate both winners and losers and therefore can demand difficult policy choices. It is important that we discuss policy options and trade-offs openly and frankly and take steps to avoid and mitigate negative effects to ensure there is always a long term, net overall benefit to the country.
As the government develops its strategy for trade, we hope that this framework will provide a useful reference.
Trade trade and climate trade justice trade and environment UK trade deals UK trade
