Business and Trade Secretary Jonathan Reynolds has announced the Government’s intention to restart trade talks – with Israel amongst the first countries on the list.
The new government is determined to spark economic growth and have confirmed their desire to restart trade talks with Israel, the Gulf Cooperation Council, India, South Korea, Switzerland and Turkey.
The first round of trade talks under the new government are expected to take place during the autumn.
Confirming that Israel was one of the first countries he wished to engage in trade talks, Reynolds said:”Boosting trade abroad is essential to deliver a strong economy at home. That’s why I’ve wasted no time taking stock of progress and getting ready to press on with trade talks with our international partners.
“Our trade programme is ambitious and plays to the UK’s strengths to give British businesses access to some of the most exciting economies in the world.”Our teams will be entering negotiating rooms as soon as possible, laser-focused on creating new opportunities for UK firms so they can support jobs across the country and deliver the growth we desperately need.”
Jewish News understands that while the government intends to take a tougher stance towards Israel over concerns about international law breaches in Gaza, it also wants to be seen as doing more to boost connections with the Jewish state in other ways.
Restarting talks is the first step towards agreeing the high-quality trade deals the UK needs to give businesses access to international markets, boost jobs and deliver that growth.
With exports totalling £855 billion, the UK was the world’s 4th largest exporter in 2022.
High-quality British goods and services are admired globally and the Government is committed to using every lever available to help British businesses sell around the world.
The government said a trade agreement with the Gulf Cooperation Council would be a substantial economic opportunity, with at least £19 billion total already invested in each other’s economies as of 2021.