The below Ministerial portfolios reflect the key priorities of the integral new department charged with developing trade and investment policy and promoting exports and investment around the globe. The department has a wide remit, incorporating the negotiation of trade deals and free trade agreements, as well as providing the international support previously provided by UK Trade & Investment (UKTI) and working with the UK’s export credit agency, UK Export Finance (UKEF) providing financial export support.
International Trade Secretary Dr Liam Fox said:
“Looking at both trade promotion and policy, the Department for International Trade is perfectly placed to make the UK a beacon for open trade. By bringing together the whole of government, industry and our extensive overseas network, we’ll be able to champion British business better and help them take advantage of the global appetite for British goods and services.
“Alongside my Ministerial colleagues, I want to demonstrate to the world that there has never been a better time for international companies to invest in the UK or for UK companies to export overseas.”
Ministerial portfolios are as follows:
• Rt Hon Dr Liam Fox MP. As Secretary of State for International Trade, he will be in overall charge of all policies and sectors, both directly and through his Ministers of State. He will personally lead on the defence and security sector and will be involved in the most significant global deals across all sectors.
• Greg Hands MP. As the Minister of State for Trade and Investment, he will lead on high value export and investment campaigns in five sectors: technology & smart cities, infrastructure, energy, healthcare and life sciences. He will also be leading on: cross-Whitehall alignment; the business forecasting function; economic diplomacy and the prosperity fund; UKEF; and policy direction on topics such as mergers and acquisitions and the Overseas Development Institute (ODI).
• The Lord Price CVO. As the Minister of State for Trade Policy, he will be leading the Trade Policy Unit, which has a wide range of critical Trade Policy functions, including strategy and communications, organisation, operations, free trade agreements and the UK’s dealings with the World Trade Organisation.
• Mark Garnier MP. As the Parliamentary Under Secretary of State, he will lead on high value export and investment campaigns in five sectors: financial services, advanced manufacturing and aerospace, automotive, bio-economy and consumer, creative & education. He will also be leading on work with the Export Control Organisation, the high volume export campaign, UK regional delivery and overseas partner delivery.