Led by Business and Trade Secretary Jonathan Reynolds, the newly revamped Board of Trade has met for the first time, aiming to drive UK exports while delivering targeted support for small businesses.
The first meeting follows closely behind announcements of three trade agreements in as many weeks as the United States, India and the EU have all agreed deals with the UK.
The Board noted that the India deal should support exports of whiskies and gin, cosmetics, medical devices, advanced machinery and lamb and is expected to increase bilateral trade by £25.5 billion.
Once the new SPS (sanitary and phytosanitary) agreement with the EU is concluded, this will make it easier for food and drink exporters by reducing the red tape that placed burdens on businesses and led to lengthy lorry queues at the border.
And, the Board concluded, the US agreement will see tariffs slashed on the likes of cars and steel, helping to expand on the existing £196 billion in annual exports from the UK.
Mr Reynolds said: “Today marks the beginning of a new chapter for British trade. This Board isn’t just a talking shop — it’s a hands-on, dynamic force that will help businesses of every size access global markets and seize the opportunities created by our landmark trade deals.”
The Board will, he went on, advise on the delivery of the forthcoming Trade Strategy and Small Business Strategy, ensuring both align with the Government’s commitment to nationwide economic growth that raises living standards in every region and nation.
