British gov't puts new focus on trade, investment

08:41, May 11, 2011      

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Britain on Tuesday launched a new cross-government focus on trade and investment so as to continue revive the economy and help its companies compete globally.

The focus is stressed both in a strategy of the UK Trade & Investment (UKTI), a government agency that helps boost small and medium-sized businesses, and in a seven-point business charter of the Foreign and Commonwealth Office (FCO), which aims at promoting Britain's interests internationally.

The strategy and the charter were a step forward following a government white paper published earlier this year that set out the national plan to rebalance the economy through an ambitious framework for trade and investment, according to a news release from the Department of Business, Innovation and Skills.

With the new focus, the UKTI will adopt a more entrepreneurial approach to deliver growth by actively attracting overseas investors, helping British companies expand abroad and working more closely with key British companies.

"Our plans will ensure that UKTI is well equipped to face the demands of the future, listening to the concerns of businesses so that we have an economic climate that benefits us all," said Trade and Investment Minister Lord Green.

Meanwhile, Business Secretary Vince Cable said it is "vital" that British firms could increase their exports to a worldwide audience in rebuilding the country's economy.

Hailing Britain's great reputation as a place to do business, Cable said "We want to do all we can to make sure foreign investors come here."

"And we're setting out how we will actively attract inward investment to the UK with ambitious plans to target sovereign wealth funds and expand the global entrepreneur program," Cable added.

Foreign Secretary William Hague said the FCO charter is "part of our commitment to inject a new commercialism into the Foreign Office, using our international influence to help British businesses secure new trade opportunities."

"Ministers will continue to build the strong bilateral political relationships needed to help business thrive, as well as working to influence trade policy internationally," Hague said.

"The Charter marks an important step in delivering commercial diplomacy and sets out a clear vision for how the government will deliver growth and prosperity for the UK," the foreign secretary added.

Source: Xinhua
 
 
     
 
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