UK reaffirms global trade leadership in first WTO review since Brexit

The government’s official report identifies four key trade priorities: boosting services exports, already exceeding £400 billion (~$528 billion) last year, reinforcing the UK’s role as a global services superpower; driving investment-led growth by unlocking capital to enhance innovation and productivity; leading in digital trade, streamlining export processes and establishing modern trade corridors; and championing sustainability, ensuring trade aligns with the nation’s net-zero commitments.

The report cited major trade agreements as proof of the UK’s global ambition. The UK-EU deal, projected to add £9 billion (~$11.88 billion) to the economy by 2040, the US Economic Prosperity deal, supporting hundreds of thousands of jobs, and the £4.8 billion (~$6.34 billion) UK-India trade deal are all expected to generate more export opportunities, jobs, and higher wages—delivering on the government’s plan for change, the Government of UK said in a press release.

Minister of State for Trade Policy Chris Bryant will present the UK’s vision at the WTO headquarters in Geneva, outlining a bold, growth-focused strategy that supports businesses to export, invest and thrive globally,

“Our trade and industrial strategies are working hand in hand to deliver growth and opportunity for British companies,” said Chris Bryant. “By championing innovation, digital trade and strong global partnerships, we’re making sure the UK’s growth agenda benefits communities across the country and keeps us competitive on the world stage.”

In Geneva, Bryant will also reaffirm the UK’s commitment to reforming and modernising global trade systems through the WTO.

“The UK’s Trade Policy Review is a chance to reaffirm our commitment to the WTO and the principles of rules-based global trade. We are proud to showcase the progress we have made on inclusive growth, services exports, and digital trade and to engage constructively with partners on the reforms needed to modernise the multilateral trading system,” said Ambassador Kumar Iyer, UK permanent representative to the WTO and UN in Geneva.

ALCHEMPro News Desk (SG)