UK govt urged to leverage trade agenda to lead digital revolution

29 Nov '21

1 min read

Pic: Pop Nukoonrat | Dreamstime.com

The United Kingdom should leverage its trade agenda to be at the forefront of the digital revolution by focusing its digital trade policy around five goals: open digital markets; free and trusted data flows; consumer and business safeguards; digital trading systems; and partnerships to shape global rules, norms and standards, says a Board of Trade report.

The recent report outlines the huge opportunities digital trade presents for boosting UK exports, turbo-charging economic growth and creating high-paying jobs across all parts of the country.

The United Kingdom exported over £200 billion worth of digitally delivered services in 2019 and this is set to increase, with investment in global digital transformation rising worldwide following the pandemic, a government press release said.

The UK government is negotiating ground-breaking digital provisions in new trade deals and leading on tackling protectionism in online trade internationally, to the benefit of UK businesses and consumers. Advancing digital trade could also help to boost wages, with employees in the digital sector earning around 50 per cent more than the UK average.

Fibre2Fashion News Desk (DS)

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