International Trade News - Global Britain Challenge Report launched by British Chambers of Commerce

Global Britain Challenge Report launched by British Chambers of Commerce

The British Chambers of Commerce has launched its Global Britain Challenge report to boost exports and channel overseas investment into the UK. 

Among the 28 recommendations are:  

The creation of a ‘Team UK’ to champion an updated ‘Brand Britain’ and show the world the best of what we can offer.
A change in mindset, so the UK takes a more vigorous approach to fighting for its future success.
Finally stepping out of Brexit’s long shadow, so politicians take bold decisions to make it work better and grab the opportunities it offers.
An injection of more investment into the UK by targeting the big, and growing economies, with the money and understanding to make the most of what we can do.
A greater emphasis on services exports in the UK’s trade deals.

The ‘Global Britain’ report was published at an event hosted by Heathrow Airport, on Wednesday 27 March, at the Compass Centre, in Nelson Road, Hounslow.  

It is the fourth of five policy documents from the BCC’s new Business Council, as part of the ‘Future of Economy’ project. The report draws on expertise from businesses of all sizes, academia, Chambers and think-tanks. 

Its proposals have two aims; to raise the flow of foreign direct investment (FDI) into the United Kingdom and to increase the amount of goods and services we export.

It recognises that the UK is starting from a position of great strength – it is currently the sixth largest economy in the world, the fifth largest exporter, and has the third largest stock of inward investment assets. 

The country has an embarrassment of riches – its universities, legal system, culture, creativity and can-do spirit are the envy of the world. 
But none of this can be taken for granted. The UK is the only G7 country yet to regain its pre-pandemic level of trade intensity. 

To keep its seat at the top table Government, business, higher education, and cultural and societal institutions must work together. Only then can Britain’s place in the world, and the world’s place in Britain be guaranteed. 

Click here to see a short video from the event.