New Digital Trade Deal A Big Win

Reacting to the UK joining the World Trade Organisation’s (WTO) E-commerce initiative, William Bain, Head of Trade Policy at the BCC, said:

“This deal between the UK and 90 of its global trading partners is good news for business. We are expecting global trade to show good growth this year, but to sustain that we need initiatives like this.

“It will boost digitalisation of trade documents across the globe and means British companies sending out electronic services, such as reports by email, won’t face customs charges or related costs. 

“Our Chamber Network is involved in making millions of pounds worth of trade happen every day and we hope government will partner with business on implementing this initiative.

“To get the most out of this opportunity we need to ensure our borders are digital, alongside simpler customs and electronic documentation processes. 

“We also need the UK, and other signatories to this initiative, to step up efforts to get more WTO nations to sign this agreement.

“Extending the benefits of digital trade globally is a win-win for developed and developing countries alike. This is a highly positive announcement showing how important boosting levels of trade will be to the UK’s economic growth.”