Improving digital commerce would present huge opportunities for UK businesses and help boost economic growth, the government chamber of commerce said, outlining how it intends to become a global leader in modern services and online goods.
In a report on digital trade to be released on Friday, the board, headed by Trade Minister Anne-Marie Trevelyan, said the government should seek digital trade deals and help shape global trade rules. adapted to the modern world.
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“By tackling digital protectionism on the global stage and championing a free, open and competitive digital economy, more UK businesses will be able to export their innovative and high-quality goods and services to the world,” Trevelyan said in a statement.
In October, Britain helped negotiate an agreement between the Group of Seven Wealthy Nations on principles governing cross-border data use and digital commerce as a first step to lower barriers.
The Board of Trade, a government body charged with defending exports and foreign investment, said Britain should aim to build on the G7 deal by working with partners to seek a broader international consensus on digital rules, norms and standards.
Digital commerce is broadly defined as trade in goods and services that is either digitally enabled or delivered, encompassing activities ranging from film and television distribution to professional services.
The report says Britain should focus in particular on concluding free trade agreements with the rapidly growing Indo-Pacific market and large service-based economies, as well as on the rapid progress of the UK accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
It should also seek a digital economy deal with Singapore, seen as a global digital leader, to demonstrate the potential of digital trade rules to other members of the World Trade Organization, he said.