Armed with the results of its Trade Confidence Outlook survey for the fourth quarter (Q4) of 2024, the British Chambers of Commerce (BCC) has set out in detail its hopes and expectations ahead of the Government’s planned publication of a detailed trade strategy.
BCC has highlighted concerning findings from the Q4 survey including that 26% of SME exporters have seen overseas sales decline and that the proportion of firms increasing exports has remained at least 10% lower than for domestic sales since the pandemic and Brexit.
The document the BCC has produced in response, Trade Strategy Manifesto: A New Decade of Progress for UK Trade, can be found HERE.
Aiming to identify how the UK can protect and grow its trade profile in a world of increased tariffs and protectionism, where the US, China and EU all loom large, it calls on the UK to champion the benefits of open, rules-based and fair international trade, to look to fast-growing sectors and markets for long-term potential and to provide leadership in digitalisation of trade.
The Government should, the BCC argues, give SMEs better support to export and promote their products, work to ensure the expansion of green exports and forge strategic relationships with global trading powers and institutions.
BCC Head of Trade Policy,William Bain, said:“The next few years will be pivotal for the UK’s export success for decades to come. It is crucial the trade strategy puts us in the best possible place to deal with the challenges and take full advantage of the opportunities”.
