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Free Trade Agreement Negotiations Update
29 July 2024
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
The statement addresses the UK's commitment to developing a trade strategy that aligns with economic growth, geopolitical analysis, industrial strategy, and net zero ambitions.
Action Requested
The Minister announces the intention to launch Free Trade Agreement (FTA) negotiations with multiple countries starting in Autumn, focusing on the Gulf Co-operation Council, India, Israel, Republic of Korea, Switzerland, and Turkey. The UK also commits to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Key Facts
- The UK is the world's 4th largest exporter with exports worth £855 billion.
- FTAs are a key lever for driving growth in line with international trade priorities.
- Negotiations will start during Autumn after writing to international partners.
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