TRADE POLICY REVIEW
REPORT BY
United Kingdom
Revision
Pursuant to the Agreement
Establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh
Agreement Establishing the World Trade Organization), the policy statement by the United Kingdom is attached.
Contents
1 INTRODUCTION.. 4
2 ECONOMIC AND TRADE ENVIRONMENT. 4
2.1
Macroeconomic performance. 4
2.2
Trends in foreign trade. 5
2.3
Foreign direct investment 5
2.4
Fiscal and monetary policy. 6
3 THE UK'S TRADE STRATEGY. 6
4 THE UK'S MODERN INDUSTRIAL STRATEGY. 7
5 THE UK'S MULTILATERAL AGENDA. 8
5.1
WTO priorities. 8
5.2
WTO reform.. 8
5.3
WTO negotiations and initiatives. 8
5.3.1
Agriculture and food security. 8
5.3.2
Development and LDC graduation. 9
5.3.3
Digital 9
5.3.4
Environment 9
5.3.5
Fisheries. 10
5.3.6
Gender equality. 10
5.3.7
Investment 10
5.3.8
Market distorting practices and trade remedies. 11
5.3.9
MSMEs. 11
5.3.10
Services. 11
5.3.11
TRIPS. 12
5.4
Other multilateral fora. 12
5.4.1
Commonwealth. 12
5.4.2
The Group of Seven (G7) 12
5.4.3
The Group of 20 (G20) 12
5.4.4
Organization for economic co-operation and development (OECD) 12
5.4.5
Association of Southeast Asian Nations (ASEAN) 13
6 TRADE AGREEMENTS. 13
6.1
Negotiated agreements. 13
6.1.1
EU. 13
6.1.2
Continuity agreements. 13
6.1.3
New bilateral FTAs. 14
6.1.4
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) 15
6.2
Ongoing negotiations. 15
6.3
Inactive negotiations 16
6.4
Other bilateral agreements. 16
6.4.1
Digital agreements 16
6.4.2
Mutual recognition agreements. 16
6.4.3
Non-legally binding instruments. 17
7 SECURE AND RESILIENT TRADE. 17
8 SHAPING THE NEXT GENERATION OF
AGREEMENTS. 17
9 HELPING BUSINESSES REALIZE TRADE
BENEFITS. 19
10 CHAMPIONING UK SERVICES AND DIGITAL
TRADE. 20
10.1
Services. 20
10.2
Digital trade. 21
11 TRADE AND DEVELOPMENT. 21
11.1
Preferential market access. 21
11.2
Aid for trade. 22
12 PROMOTING AN OPEN AND MODERN
TRADING SYSTEM.. 22
12.1
Innovation. 22
12.2
Intellectual property (IP) 22
12.3
Trade facilitation. 23
13 SUSTAINABLE AND INCLUSIVE TRADE. 23
13.1
Animal welfare. 23
13.2
Environment 23
13.3
Trade and inclusion. 26
13.4
Micro, small and medium-sized enterprises (MSMEs) 27
13.5
Trade and labour 28