The UK leads the world in the quality of our service-based economy. The government’s approach to global trade should, therefore, reflect these unique selling points and boost UK trade in services.
a) Rapidly finalise a world leading UK-Switzerland Mutual Recognition Agreement (MRA) and Free Trade Agreement (FTA). Use this unique market access model to then secure more UK trade with other leading financial centres such as Japan and Singapore.
b) Create a special corridor for trade and investment with the US by securing a UK-US digital economy agreement. UK/US substituted compliance or mutual recognition in digital asset markets would boost the UK’s position as a hub for digital assets.
c) Use the Economic and Financial Dialogue and the India-UK Financial Partnership to create a cross-listing link to build UK-India capital markets connectivity, creating major growth opportunities in India.
d) Boost the UK’s position in Islamic finance by issuing a new Green Sukuk. Help Sharia compliant investors in the Middle East and Asia back UK sustainable infrastructure, hydrogen, and life sciences projects.
e) Resume dialogue with China on economic and financial issues of mutual benefit, including securing increased market access for UK firms, and cooperating on financing the transition to net zero.
f) Negotiate a UK-Japan Digital Economy Agreement. Use dialogues with key Indo-Pacific markets to remove market access barriers, so that UK businesses can accelerate their growth in this critical region.
g) Provide guidance on the government’s new investment screening rules, to attract global investment into UK businesses and infrastructure, and ensure regulators work to improve international cooperation.
h) Ensure the UK’s overseas framework remains attractive, particularly the Overseas Persons Exclusion regime.
i) Strive for greater and more consistent cross-border data flows, by extending data adequacy agreements to other like-minded governments and their financial authorities.
j) Join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).