Achieving Growth Through Trade Digitalisation
With trade in goods valued at £1.7 trillion and services valued at £896 billion, trade matters to the economy. The UK has a unique opportunity to drive economic growth and improve productivity, by digitalising international trade, reducing bureaucracy, and leveraging the Electronic Trade Documents Act 2023 (ETDA).
As the first G7 economy to remove legal barriers to trade digitalisation, the UK can harness this leadership by partnering with ICC United Kingdom and the Centre for Digital Trade and Innovation (C4DTI) to unlock trade growth, streamline processes, and strengthen SME participation. However, this transformation is not a given and requires an ambitious, coordinated plan from the government to succeed.