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A Brief Overview of the UK Trade Strategy
The UK Government has launched a new Trade Strategy, the first comprehensive plan of its kind since leaving the EU.
The Strategy sets out how the UK aims to boost international trade, support high-growth sectors, and strengthen resilience against global disruptions. It comes at a time when geopolitical uncertainty and rising protectionism are creating new challenges for UK businesses.
The Strategy outlines a series of measures to support export growth, strengthen trade defence, and deliver more agile and practical trade agreements. For the tech sector, the focus on services, digital trade, and regulatory cooperation is particularly relevant.
techUK welcomes the launch of this trade strategy as a landmark moment. For the first time, we have a coherent, long-term plan that reflects the realities of current geopolitics and the UK’s unique strengths - particularly in services and high-growth, innovation-driven sectors like ours. It’s especially encouraging to see government pulling together the full suite of tools at its disposal - from digital trade agreements to commercial diplomacy and meaningful trade defence instruments. We look forward to working closely with government to turn this vision into impact and ensure the UK remains a leader in the global digital economy.
Julian David, CEO, techUK
Key elements of the Strategy that may benefit UK tech businesses include:
- A new Ricardo Fund to unlock £5 billion in export opportunities by addressing regulatory barriers.
- An increase in UK Export Finance (UKEF) capacity from £60 billion to £80 billion, including tools targeted at smaller exporters.
- Reforms to strengthen UK trade defence mechanisms to respond more quickly to unfair practices and global shocks.
- A renewed emphasis on digital trade, mutual recognition of qualifications, and services-focused agreementswith key markets.
The publication reflects many of the priorities techUK has highlighted in recent months. In our January 2025 report, Enabling Growth and Resilience: The UK Tech Sector in an Uncertain World, we recommended measures to improve trade resilience, strengthen regulatory cooperation, and expand the UK’s leadership on digital and emerging technology trade. It is positive to see several of these recommendations reflected in the government’s new strategy.
We will continue engaging with government to ensure the Strategy delivers practical benefits for tech companies of all sizes and supports the sector’s ability to grow, innovate, and compete globally.
A full analysis of the Trade Strategy and what it means for the UK tech sector will be published by techUK in the coming days.
Original article link: https://www.techuk.org/resource/a-brief-overview-of-the-uk-trade-strategy.html
