Trade Strategy Manifesto launched by The British Chamber of Commerce
The trade strategy manifesto launched by the British Chamber of Commerce on 24th January 2025, sets out vital action the government should take to boost exports and to encourage inward investment. The manifesto proposes 29 recommendations across 6 areas including economic diplomacy, imports and supply chains, trade agreements, green trade, digital trade and export support. It identifies how the UK can protect and grow its trade profile in a world of increased tariffs and protectionism, where the US, China and EU all loom large.
The main recommendations are:
- Provide leadership on spreading digital trade across the world
- Give SMEs better support to export and promote their products
- Scale up green exports
- Forge strategic relationships with global trading powers and institutions
- Promote fast growing markets and sectors to secure long-term growth
Read the full manifesto here.
Five Years On: Resetting UK-EU Trade Relations
On the fifth anniversary of the UK’s exit from the EU, the BCC restates its ambitions for the reset of UK-EU relations gathering pace this year, including on trade. The key aim of the proposals is to make trade with the EU less costly and burdensome for companies to grow and invest.
Research by the BCC’s Insight Unit has shown that SME exporters have faced an uphill struggle to sell goods and services in Europe as paperwork and costs have ballooned:
• Two fifths (41%) of exporters disagree the Brexit deal is helping them grow sales.
• Only 14% of exporters think the deal is helping them to grow.
• Almost half (46%) of businesses want the Government to make it easier for UK staff to work in the EU.
• More than a third (37%) want a reduction in VAT requirements to export to the EU.
• And a quarter (25%) want the UK to align with rules and regulations with the EU in key goods sectors.
Trade with the EU is covered by the Trade and Co-operation Agreement (TCA) which was agreed on Christmas Eve in 2020, almost 11 months after the UK left. It allows tariff-free trade with the EU but requires British and EU firms to produce documentation and paperwork for all shipments. Services access is also limited by rules on business mobility.
Companies say the biggest barriers to exporting to the EU are customs procedures and documentation (45), export documentation (39%), regulations and standards (35%) and tariffs (33%). Awareness of upcoming changes in trade rules and regulations being made by either the UK or the EU are also alarmingly low, with more than three quarters of firms knowing no details of much of the legislation.
This includes knowledge of the Carbon Border Adjustment Mechanism (CBAM), Border Target Operating Model (BTOM), Safety and Security Declaration Requirements and new rules on business-to-business movements of parcels to Northern Ireland.
The BCC’s TCA Four Years On report sets out 26 recommendations to improve UK-EU trade.
BCC In Trade Reset Push with EU Ambassadors
The BCC has met with Ambassadors from across the EU to make the case for a trade relations reset that benefits businesses on both sides.
Director General, Shevaun Haviland, and Head of Trade Policy, William Bain, were hosted, at the German Embassy by Ambassador, Miguel Berger.
They were joined by the EU Mission and representatives from 16 other EU countries to review the BCC’s analysis and recommendations on the Trade and Co-operation Agreement (TCA).
After meeting with the Ambassadors, Trade Policy Head, William Bain, said:
“The shockwaves from last week’s US announcements on tariffs are still reverberating around the world, and both the UK and EU need to decide on their next steps.
“Making trade between the UK and the EU easier, for businesses on both sides of the English Channel, is one option that can have an immediate impact.
“If we reduce red-tape and simplify other processes that have added to costs for business then we all benefit.
“The EU Leaders’ Summit with the Prime Minister won’t take place until May 19, and clearly a lot will happen in the next few months, but it was encouraging to see EU ambassadors being receptive to our suggestions.”