International trade is an essential part of the UK's prosperity. Over a quarter of our GDP is exported. Foreign-owned businesses account for around 20 per cent. of UK jobs in production sectors, and 9 per cent. of service sector jobs (excluding financial services).
Through UK Trade and Investment (UKTI), the Government launched their new five-year strategy “Prosperity in a Changing World” on 20 July. This represents a step change in our support for British businesses trading internationally. Key themes of the strategy include developing a programme of support for companies trading internationally in emerging markets such as India and China; marketing the UK internationally as a place to do business in and with; actively supporting knowledge-intensive businesses and innovative sectors; implementing an international R&D strategy in partnership with academic and business communities; and introducing a single coherent strategy to promote the UK and the City of London as the world’s leading centre for financial and business services.