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A globalised economy

Making the UK a trading powerhouse

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Why it matters

Trade is the backbone of the UK economy – with exports accounting for 32% of total GDP – and yet our share of global trade has been declining. Trade enables companies to find new markets, diversify their supply chains and reduce risk. And it benefits the rest of society and broader economy, creating jobs, raising incomes and increasing living standards.

THE SIZE OF THE PRIZE

What can business and society gain from a boost to trade?

Opportunities to target fast-growing global markets

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Europe, the US, India, China and ASEAN countries could be targeted in areas like financial services, information and communication, and education.

Supercharge trade in every region and nation

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By co-developing an Export Champions programme in every region and nation, and linking it with a new SME accelerator, potential exporters will gain access to best practice, support and guidance.

Supporting other firms in the supply chain

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Business can support other domestic-based firms in their supply chain by identifying opportunities for them or providing wrap-around services when winning contracts overseas.

Become a superstar exporter and drive growth

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By actively pursuing new markets and selling more globally, firms can become ‘superstar exporters’ which will drive growth and job creation.