NEWS | World Trade inclusive solutions that work for all stakeholders ( investors , exporters , importers , economy , and society ). In addition , they promote dialogue among policymakers , civil society , and business in order to provide UK business with a more coherent voice on the world stage – guaranteeing that prospective trade partners are aware of UK business ’ key trade areas .
Working with UK government to align national efforts with the G20 is a crucial part of this , with the aim of increasing the UK business profile at the intergovernmental level . In fact , only 13 UK companies are engaged in B20 Germany 2017 . And 50 % of those are from financial eservices and none of them is from outside of the M25 . In a post-Brexit environment , this engagement will need to improve if UK business wants to have any influence .
Fortunately , ICC aims to strengthen co-operation with major investor nations ( Ireland , India , Japan , and the US , for instance ) through a presence at major international summits . Developing policy products , including statements to shape intergovernmental discussions , as well as rules and codes to facilitate international business transactions , conveys UK business views on international trade . This ensures that UK business priorities are addressed and that they are able to
tap into the array of trade opportunities available to them .
Promoting the importance of free trade is crucial in order to counter the rapid spread of protectionist measures . For example , ICC ’ s Global Alliance for Trade Facilitation has played a major role in helping to secure the recent ratification of the WTO ’ s Trade Facilitation Agreement ( TFA ), which contains provisions for faster and more efficient customs procedures , making trade easier , quicker and less costly for businesses of all sizes . When implemented , this agreement will increase global merchandise exports by up to US $ 1 trillion , create 20 million jobs and reduce trade costs by 14 %. The big winners will be SMEs and emerging markets , both top trade priorities for the UK . It is a perfect example of the kind of initiative UK business should support .
Finally , UK businesses looking to export need advice on a number of aspects relating to planning , distribution channels , and the logistics of shipping and transport . Effective guidance on how best to research the opportunities and challenges in new markets is becoming increasingly available through government initiatives , such as Exporting is GREAT , as well as from business organisations . But it is up to UK businesses to tap into the available guidance and resources .
SUPPORTING TRADE Yet , no matter how supportive organisations are to UK business agendas , none of this matters unless government provides UK business with the infrastructure to trade and plays a proactive role with business to improve the trading environment outside the EU .
UK businesses can and should voice their support for multilateral trade agreements , as a proliferation of bilateral trade agreements will add more complexity , costs and red tape . They can voice their support for the removal of trade barriers . And , most importantly , they can voice their support for the implementation of the WTO ’ s TFA .
Trade helps drive sustainable growth , quality job creation and increased consumer choice , if national governments have the right policies to support it .
It is true that Brexit , while problematic for UK trade , does create the push to export further ashore , and to markets that are particularly receptive to British goods . It is also true that we will not be able to make the most of these opportunities without government and intergovernmental support . But , above all , it is true that if UK business speaks , and insists on free trade and multilateralism , and speaks loudly enough , and through global business channels , governments will listen . Q dofonline . co . uk DIRECTOR OF FINANCE 11