faqs

What is world Trade Week UK?

World Trade Week UK will highlight the importance of global trade in creating jobs and growth. Through a series of events, reports and other activities, it will help showcase the success of the UK as a trading nation and the importance of trade to reducing global poverty.

In the current economic climate, it is particularly important that we maximise opportunities for global trade and promote the benefits of open markets to protect our shared economic future.

During World Trade Week UK there will be a range of activities and events every day, both across the UK and at UK embassies and consulates across the world. These will include:

  • An international conference in London
  • A programme of events held by Government, business and stakeholders across the UK and the world is being added to daily

What will it achieve?

The UK Government is committed to rebuilding global prosperity and security by creating jobs and growth through open and fair markets.

World Trade Week UK will seek to raise awareness of the benefits of trade and openness to UK economic prosperity in the long term, and the benefits of global trade as the most direct means to end global poverty. It will also be a chance to raise the profile of the range of practical support available to UK businesses to make sure they continue to be vibrant global traders and investors in the future.

It will equally seek to raise awareness of how the UK is investing in transforming the trading capacity of developing countries to ensure they share the benefits of trade.

How can I get involved?

Is your business or organisation a good example of how trading globally can create economic growth and jobs?

Would you like to help you community learn more about the rich history of trade in the UK? If you do and you’d be prepared to talk about the benefits of world trade for your business, community or organisation, please get in touch.

What relevance does World Trade Week UK have for developing countries?

While we are feeling the effects of the financial crisis here in the UK, we also know that the impact in poor countries will be even more profound. Developing countries are already suffering as their sources of finance – remittances, exports, aid and capital flows – are affected.

Private capital flows to developing countries are likely to fall from $1 trillion two years ago to less than $200 billion this year. Some 26 million Chinese workers have already lost their jobs as demand for exports plummet. And as many as 300,000 miners in the Democratic Republic of Congo are now without work. By the end of next year we could see some 90 million extra people living in extreme poverty as a result of the crisis.

We have seen the positive impact of international trade and economic growth on poverty reduction in East Asia, which since 1980 has trebled its share of world trade and lifted half a billion people out of poverty.

World Trade Week reinforces the UK government aim to continue resisting protectionism and supporting free trade. One result of the G20 summit was to make more trade finance available to keep global trade flowing. The week is also an opportunity for us to restate our commitment to help developing countries build up their infrastructure and increase their capacity to trade.

What’s happening to trade in the economic downturn?

International trade flows are falling and global trade could shrink this year for the first time in 30 years. In the last five months $30 trillion worth of wealth has disappeared globally. And the IMF forecasts that in 2009 the global economy will contract for the first time since the Second World War.

Our priorities are to help keep markets open to help UK business overcome barriers to trade and prepare for the upturn and to ensure trade continues to contribute to sustainable development and poverty reduction.

We can rebuild global prosperity and security by creating jobs and growth through open and fair markets.

What is the UK government policy on trade?

Trade and openness are the cornerstone of UK economic prosperity and a crucial route out of poverty worldwide. Trade drives growth. Rapid, sustained, inclusive growth is the most direct route to reducing global poverty.

  • More trade means more jobs, higher incomes and cheaper and more diverse goods and services for customers.
  • More trade helps transfer vital knowledge and technologies.
  • More trade provides new and larger export markets to UK businesses.
  • History tells us that no country has lifted itself out of poverty by turning its back on trade. But we also know that increases in trade and growth have been unevenly spread among countries, and within countries.



If you would like to part of World Trade Week UK or to find out more information, please email worldtradeweekuk@kindredagency.com or call Imogen Petit on 020 7612 8800