Tuesday, 6 June 2017

General Election 2017: May would revive Board of Trade

Theresa May plans to set up a network of nine trade commissioners across the world to boost trade after Brexit.

The Conservative Party said they would be part of a new Board of Trade to help exports and attract foreign investment.

The UK's first Board of Trade has its roots in the 17th Century and through several transformations became the Department of Trade and Industry.

Both Labour and the Liberal Democrats said the prime minister's plan was outdated.

Under the Conservative plans, the trade commissioners would be based "overseas in nine different regions, determined by markets rather than national borders, to ensure UK trade policy is guided by local experience and expertise".

The nine regions were not disclosed.

The Board of Trade would bring together leading business figures and politicians to help lead trade delegations, boost exports and "make sure the benefits and prosperity of Brexit are spread equally across the country".

Mrs May, who plans to take Britain out of the European Union's tariff-free single market, has said Brexit will allow Britain to seek bilateral trade deals with "old friends and new allies".

BBC       News.