National Audit Office briefing on preparation for future trade negotiations

By agency reporter
May 20, 2019

The National Audit Office (NAO) has published a briefing on the preparations made by the Department for International Trade (DIT) for future trade negotiations. The publication is intended to assist Parliament in its understanding and scrutiny of government’s future trade deals.

Established in July 2016 in response to the UK’s decision to exit from the European Union, DIT promotes international trade and investment and champions free trade, with the aim of securing UK and global prosperity. The government’s negotiation of new trade deals could have long-lasting implications for UK citizens and significant sections of the economy, such as food and financial services.

The briefing describes the following:

  • The development of an overarching UK government trade policy. The NAO sets out the role of trade in the UK economy, the  government’s structure for developing policy and its high level approach, and the aspirations for its future relationship with the World Trade Organisation.
  • How DIT is opening up new and existing markets. This explains different government departments’ objectives on trade and how the DIT works with the government’s many international networks to help open up markets internationally.
  • How DIT is preparing to negotiate and implement Free Trade Agreements. The process by which DIT is agreeing a mandate and preparing to negotiate Free Trade Agreements is captured. The government’s oversight of negotiations, its approach to parliamentary ratification and its activities to implement Free Trade Agreements is also outlined.

* Read the full report here

* National Audit Office https://www.nao.org.uk/

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