Plans to make Britain a “21st century exporting superpower” will be set out today in a new export strategy.
International trade secretary Liam Fox will set out today the ambitions through better use of Britain’s overseas network, online tools and building extensive business-to-business networks.
Last year £620bn of goods and services exported by British companies, accounting for 30 per cent of GDP, with UK exports at a record high. The plans will set out how Britain aims to increase total exports as a proportion of GDP to 35 per cent.
In a speech to a business audience today, Fox is expected to say: “I believe the UK has the potential to be a 21st century exporting superpower. In the knowledge economy, Britain has already stacked its shelves with what the rest of the world wants.”
The government launched its new export strategy to exploit opportunities of leaving the EU today.
Minister of state and export promotion at the Department of International Trades Baroness Fairhead says: “As the world’s sixth largest exporter, we do punch above our weight, however, we also punch below our potential.”
“This export strategy sets out to change that and to increase exports as a proportion of GDP from 30 per cent to 35 per cent, taking us from the middle of the G7 to near the top. This is ambitious, but achievable.”