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Delivering the keynote speech during London Tech Week, the UK's International Trade Secretary Anne-Marie Trevelyan has unveiled a five-point plan for digital trade to reduce costs for British businesses, cut red tape and shore up data protection.
The Department for International Trade (DIT) has published a plan for establishing a free and fair digital trade landscape to help UK companies do business.
Currently, businesses face barriers that hinder them from taking advantage of helpful digital technology, such as being forced to meet unreasonable requirements to localise data or disclose their intellectual property, like source code.
The DIT’s plan intends to make digital trade easier, allowing businesses to reach more customers by simplifying the process of selling online and helping them trade efficiently and cost-effectively.
Under the five-point plan, DIT will:
The DIT anticipates that consumers will feel the effects of this plan as well, enjoying greater access to international marketplaces offering wider variety and more affordable products and services.
The digital sector contributed £150.6 billion to the UK economy in 2019, employing 4.6 per cent of the national workforce, Ms Trevelyan noted.
“All of us depend on digital trade, yet British businesses face digital barriers in countries who take a protectionist approach,” Ms Trevelyan said.
“I want the UK to break down these barriers and open up new, exciting opportunities for businesses and consumers so we can see improved productivity, jobs and growth.”