BREAKING BRITANNIA NEWS
Britain left the EU last Friday and is in a period of transition while trade deal negotiations take place.
He urged the WTO to implement a joint initiative on the domestic regulation of services to make it easier for governments and businesses around the world to access legal, financial, accounting, and other services from British-based specialists.
The symbolic moment had been eagerly anticipated by International Trade Secretary Liz Truss.
Mr Braithwaite said one if the UK’s priorities in the WTO is to increase this international trade in services, to the advantage of nations, by making services markets more transparent, more open and more competitive.
He said:”In the United Kingdom, services are the predominant driver of the economy. They employ roughly 26 million people, and contribute 80 percent of GDP.
“But one thing hasn’t — and that’s the United Kingdom’s commitment to global trade.”
Boris Johnson has pledged to get a deal in place by this year’s end.
“We will be speaking up on issues which matter to people and companies in Britain, in addition to championing free trade against the rising tide of protectionism.”
He said:”Individuals and companies often lose valuable time applying and waiting for licences from host regulators.
“We are the second largest exporter of services in the world.”
Mr Braithwaite said UK businesses were calling for the smashing of trade obstacles hindering their productivity and highlighted the importance of the services sector.
He explained:”As part of the European Union, the United Kingdom supported the EU Delegation to the WTO in playing a leading role in this initiative.
“Frequently, they have to invest large amounts of money upfront so as to browse the different and sometimes unpredictable regulatory arenas. Money that smaller operators can ill afford.”
Mr Braithwaite used his speech to call for the elimination of obstacles preventing the lucrative services industry operating to its full potential abroad of Britain.
Speaking before the WTO session in Geneva, she said:”This is an historic moment which will give us an independent voice at the WTO for the first time since its inception.
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