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CBI publishes joint statement ahead of the first Strategic Trade Advisory Group meeting

Ben Digby Director of International Trade

Collaborating with the TUC, FSB, Which? and the Fairtrade Foundation, the CBI outline six key principals that should underpin the future of UK trade policy.

12 Jun 2019, 2 min read

STAG is an advisory group set up by the Department for International Trade (DIT) to act as a sounding board for the UK’s future trade policy outside the EU. It brings together businesses, trade unions, consumer groups, academics and other relevant stakeholder groups, with regional, national and cross-sector representation. It’s chaired by George Hollingberry MP, Trade Policy Minister.

The group’s formation was result of a call from the CBI. Director-General, Dame Carolyn Fairbairn, sits as a member and is currently making a case to co-chair the group once established. The CBI’s unique responsibility for the group is to provide an economic overview of what the UK’s trade policy priorities should be.

The statement’s purpose

The CBI published the statement to show a united front across business, union, consumer and NGO groups on the outcomes trade policy must deliver.

The message was that international experiences show that successful trade policies start with a clear idea of purpose. This involves asking the questions; what are the outcomes we want our trade policy to achieve? What does success look like? What are our guiding principles? How do we link trade strategy up with our domestic agenda? The CBI view is that we’ve jumped immediately to process (new FTAs etc) without agreeing purpose. This requires a re-set.

Importantly, the statement points out that the purpose of trade policy isn’t only about opening markets up for companies overseas or economic growth. It’s also about good jobs, fair pay, supporting our ambitions on climate change and global leadership on human rights, foreign development and aid.

This statement will also be shared with Labour and the other political parties.

Next steps

  • The STAG meetings will take place quarterly and a new structure of ETAGs (Expert Trade Advisory Groups) is being established in DIT to support its work at a technical level
  • The CBI will look to engage with trade associations, regions and nations to contribute to these groups
  • The CBI will continue to use the International Trade & Investment Council (ITIC), chaired by Katherine Bennett (Airbus) to provide CEO input and the International Trade Advisory Group (ITAG) to support more technical discussions with CBI members.