TRADE UPDATES FROM THE BRITISH CHAMBERS OF COMMERCE
This month's updates from the British Chambers of Commerce (BCC)
► The BCC was part of a large UK delegation at the World Trade Organisation (WTO) Public Forum in Geneva last month, joining business and other stakeholders for meetings and roundtables on key trade issues.
- They participated in a breakfast industry roundtable with the UK Ambassador to the WTO. The roundtable covered issues such as the Agreement on Electronic Commerce, how work to remove non-tariff barriers can be taken forward and how business can engage with the WTO.
- They also took part in a roundtable with businesses and experts on carbon border adjustment mechanisms around the world. During the event, participants shared compliance experiences and considered how they will develop in ways which do not distort global trade.
- They also heard from the WTO Director-General, Ngozi Okonjo-Iweala, on the publication of the World Trade Report and her strategy for the year ahead. The update covered greening steel production and supply chains, promoting growth in services trade, the need for more action on digital trade, and efforts to reach more inclusive trade.
Speaking after the event, BCC Head of Trade Policy, William Bain, said: “Business voices need to be heard at events like the WTO Public Forum, but also in its work all year-round. The BCC agrees with the priorities of the WTO Secretariat for the next 12 months. Services are a UK, and global trade success story, and expanding markets for tradeable services will increase prosperity for UK businesses and the rest of the world.
“On digital trade, we want to build a wider take up of the agreement on Electronic Commerce – currently accepted by 91 countries. This will cut costs and expand opportunities for both developing and developed nations. We need to do more to get other states into the tent on this agreement.
“A major theme of the week was the effect of regulations and subsidies policies on openness to exports. Countries need to ensure that measures with good intentions on climate do not become overly protectionist in how they are applied.
“We look forward to engaging further with the important work on these issues going on at the WTO. A strong rules-based global trading system matters to business in the UK, and we must make sure our voices are heard.
“We share their aim of putting better trade and growth at the heart of the WTO staff and delegations’ agenda for the coming 12 months.”
“On digital trade, we want to build a wider take up of the agreement on Electronic Commerce – currently accepted by 91 countries. This will cut costs and expand opportunities for both developing and developed nations. We need to do more to get other states into the tent on this agreement.
“A major theme of the week was the effect of regulations and subsidies policies on openness to exports. Countries need to ensure that measures with good intentions on climate do not become overly protectionist in how they are applied.
“We look forward to engaging further with the important work on these issues going on at the WTO. A strong rules-based global trading system matters to business in the UK, and we must make sure our voices are heard.
“We share their aim of putting better trade and growth at the heart of the WTO staff and delegations’ agenda for the coming 12 months.”
► The BCC met with the Swiss Embassy and trade negotiators on the latest steps to reach an enhanced trade agreement between the UK and Switzerland. They discussed key BCC priorities on customs, services and investment.
► UK trade data released by the Office for National Statistics showed a disappointing July for trade in goods, reversing June’s gains in export growth. Services export growth across the last quarter was good at 2.5%. Read their analysis of July’s data.
► The BCC participated in a call with the government’s new Trade Policy and Business Engagement Advisor Sally Jones, who outlined ideas for business engagement ahead of the forthcoming government Trade Strategy.
► The BCC took part in the meetings of the official stakeholder bodies established to discuss the UK-EU economic and trade relationship – the Domestic Advisory Groups and Civil Society Forum. A joint communique has been agreed on key issues.
► The BCC raised the issue of VAT challenges faced by UK exporters to the EU in formal dialogues with senior UK and EU officials at the Civil Society Forum meeting. Read the Joint Statement reached by business, labour and third sector stakeholders at the meetings in Brussels.
► The BCC joined the new DBT SME Policy Insights Forum to consider how trade deals can work to increase SME exports on their implementation.