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Department of International Trade Announcement ‘updates’

12:05 22 July in Markets

Following the Prime Minister’s appointment of  Dr Liam Fox MP as Secretary of State for International Trade further Ministerial appointments have been announced.  The Rt Hon Greg Hands MP, Lord Price CVO, and Mark Garnier MP have now all been appointed as Ministers of State in the new Department for International Trade.

The Thames Valley Chamber welcomes these appointments and the news that with the new department – that integrates and elevates the trade (and investment) agenda – the Thames Valley Chamber can continue to work alongside UKTI to promote the region, and its sector strengths, as one of the most successful destinations in the UK for attracting Foreign Direct Investment in the UK.

The Department for International Trade will have responsibility for:

  • developing, coordinating and delivering new trade and investment policy to promote UK business across the globe,
  • developing and negotiating trade agreements and market access deals with non-EU countries, and implementing trade rules,
  • negotiating plurilateral trade deals,
  • providing operational support, including export credit facilities, and import and export licensing services to facilitate inward and outward investment,
  • supporting the UK’s WTO membership and representation.

The Department brings together UKTI staff with an expanded trade policy directorate, which already includes the export control organisation, and the Secretary of State will also take responsibility for UK Export Finance (UKEF).