In today’s world, trade policy influences all areas of public policy decisions. Easy access to international markets to trade goods and services is vital to UK prosperity. As the government seeks to recast the UK’s trading relationships post-Brexit, now is the time for business to ensure its voice is heard on international issues. As we've seen with the recent tariffs debate, questions of trade policy can be hard. They are incredibly technical; cut across many areas of public policy-making; impact different parts of the economy in different ways, creating winners and losers; and often against the backdrop of a lack of political consensus.
The announcement of the CBI having secured a seat on the government’s new Strategic Trade Advisory Group (STAG) is the first step to reshaping trading relationships post-Brexit. The STAG is a committee of 16 experts from business and civil society to guide the government’s approach to trade negotiations and wider trade policy.
CBI Director-General, Carolyn Fairbairn, will sit on the new advisory group and will provide facts, data and evidence about the impact of trade policy decisions on the whole UK economy. Having advocated for such an advisory group to be formed since 2017 when writing to Secretary of State for International Trade, Liam Fox, the formation of the group as well as securing a seat at the table is a win for the CBI and the business community.
Read the CBI’s letter to Liam Fox here
Regardless of the form Brexit takes, the government’s new STAG is a pivotal moment for the UK in reshaping its position in the global trade system.
Post-Brexit, irrespective of the closeness of the relationship between the UK and the EU, the UK will have an independent trade policy for the first time in decades. As well as the approach to trade negotiations, the STAG will be able to outline market access barriers to address and other areas where government can support British firms’ overseas operations. Trade policy is ultimately aimed at just that, so business input and wider stakeholder engagement is essential for policy-making to be effective – incorporating the views of experts of different types to guide and define government policy from the outset. The STAG will be central in this regard.
Read more about what the STAG means for CBI members
With the CBI’s position on the group, CBI members will have a unique opportunity to feed in views and directly influence the Department for International Trade’s thinking at senior levels.
Prior to the first STAG meeting, the CBI is setting out its formal routes of engagement with members on trade policy – an increasingly important area of work for the CBI. The CBI’s trade team will continue to work with the Department for International Tarde to ensure the sector-specific and thematic groups sitting under the STAG are set up in a way that best informs government trade policy.