Britain can be a force for global prosperity

My role will be to make the most of the UK’S core strengths to increase trade with partners overseas

Setting up a new Department for International Trade just over a year ago is testament to how deeply committed the UK is to harnessing the huge economic benefits of free trade.

It marks the UK government’s clear intent to take advantage of the wealth of opportunities for growing our trade relationships around the world. For the first time in over 40 years we will be able to shape the UK’S own trade policy and take advantage of the forecast 90 per cent of global trade that will be conducted outside of the EU over the next 20 years.

And it’s precisely why my role was created at the department. As the chief trade negotiation adviser, it will be my job to develop a world-class trade negotiation team that will bolster our expertise and work with ministers to negotiate trade agreements that benefit the whole of the UK.

But it is not just about the economic value that will come from constructing such trade arrangements. There is a powerful political and security element to getting this right. History is littered with instances of the destructive political consequences of closed markets. This was a lesson well understood at the end of last century’s global conflicts. It was at the core of the post-war global order – of which the UK was one of the chief architects.

Right now, that order is under unprecedented pressure. World Trade Organisation (WTO) negotiations have stalled. So-called mega-regional trade deals such as the trans-pacific trade deal and the EU-US negotiations have been put on ice. China set itself bold new liberalisation goals a few years ago, but has been unable to deliver. Meanwhile, in the last five years G20 countries have introduced nearly 400 measures that restrict trade.

Those challenges are truly global in their scope and consequence. They require a response that is truly global in its reach. The UK, as the world’s fifth-largest economy, will now be in a position to make a real difference. That is precisely the message that Dr Liam Fox, International Trade Secretary, and his ministerial team have been delivering recently. There is in fact everything to play for if we take a truly global perspective and drive forward an ambitious liberalising agenda.

Of course, many countries still recognise that open trade policies are at the core of any strategy to improve global political openness and stability. They are already looking to partner with us to re-energise that agenda; right now we are involved in 11 working groups with 16 different counties ranging from Mexico to New Zealand.

Just last month the Dr Liam Fox travelled to the US and jointly chaired the first meeting of the UK-US trade and investment working group. This group will provide continuity and improve our already strong bilateral trade. It will also lay the groundwork for a future free-trade deal with our single largest trading partner. We have bilateral trade worth over £150billion a year and a further $1trillion invested in each other’s economies.

Last weekend the Secretary of State reaffirmed that the UK will leave the single market and customs union. With the freedom to negotiate and sign new free trade agreements as an independent nation, Britain will be able to build on our current relationships, and sign deals that give priority to the UK’S core strengths and interests.

Trade in services has been the poor relation when it comes to trade agreements. But the reality is that when you take into account the value added by services in the production of goods, services actually account for 55 per cent of total OECD exports. For the UK, it’s 64 per cent. So it’s clear where UK interests actually lie.

I’m here to prepare for these important negotiations, ensuring we deploy the right strategies, and take advantage of the opportunities available to us.

There is no shortage of work to be done. That starts with consolidating the UK as an independent member of the WTO, and looking at how to help strengthen and promote the existing global trading system. Beyond that, it is a matter of getting match-fit for negotiations to come.

I firmly believe the UK can become an “enabler” of the future by negotiating commercial opportunities with thriving markets around the world. I am incredibly optimistic for the future and the opportunities before us – there’s no doubt that the Civil Service is ready for the job ahead.