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UK News Crunch G7 meeting will see UK secure more trade deals by showing 'world dominance'

02:40  22 april  2021
02:40  22 april  2021 Source:   express.co.uk

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PM will use the UK ’s G 7 Presidency to unite leading democracies to help the world build back better from coronavirus and create a greener, more prosperous future. We use some essential cookies to make this website work. We’d like to set additional cookies to understand how you use GOV. UK , remember your settings and improve government services. We also use cookies set by other sites to help us deliver content from their services.

UK Foreign Secretary Dominic Raab confirmed the plans for the meeting in Parliament on Tuesday, highlighting that the event would be an opportunity for the world ’s biggest democracies to come together. The Foreign Office said the meeting is a crucial opportunity to revitalise in-person diplomacy and will look to establish a shared approach among the world ”s leading democracies on equitable vaccine access, to agree global girls’ education targets, rigorous goals on climate finance and new measures to prevent famine and food insecurity.

Foreign Secretary Dominic Raab will hold the bloc's Foreign and Development Ministers' Meeting which will take place in central London between May 3-5. The COVID-secure event will be the first G7 Foreign Ministers meeting since April 2019 when Dinard and Saint-Malo in France hosted the summit.

As well as G7 countries (Canada, France, Germany, Italy, Japan, US & UK - plus the EU), the Foreign Secretary has also invited India, Australia, South Korea and South Africa.

The Chair and Secretary-General of the Association of Southeast Asian Nations (ASEAN) will also join this year's meeting as guests.

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The UK has sought to secure agreements with its trading partners as it prepares to leave the European Union in October. "My priority is to make sure that British businesses are fully prepared for Brexit and ready to trade on Thursday 31 October," Ms Truss said in a statement. Ms Truss said the agreement would allow firms such as luxury carmaker Bentley to "keep trading as they do today, and they will be able to take advantage of the opportunities that Brexit offers". Warren Clarke, Bentley brand manager for South Korea welcomed the "stability" brought by the deal .

Mr Rabb said their attendance will bring broader experience and geographic representation and demonstrates the importance of the Indo-Pacific region.

Department for International Trade sources close to Trade Secretary Liz Truss told Express.co.uk the opportunity would be an option to showcase the UKs "world dominance."

a man wearing a suit and tie: Dominic Raab © Getty Dominic Raab a group of people in a room: G7 © Getty G7

One Whitehall source added to this publication: "The G7 is truly an opportunity to show Britain is open for business through constructive diplomacy.

"Asia is one of the fastest-growing global markets and we want to take advantage of significant opportunities."

Ms Truss claimed that by 2030, 66 percent of the global middle class will be in Asia and claimed this will make forge new trade partnerships more desirable.

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These are the most industrialized nations in the world . When breaking down the numbers, the G 7 countries represent over 46% of the gross domestic product globally based on nominal values. Since the mid-1970s, the group meet each year to discuss economic policies. The Finance Ministers of the member nations meet up to four times per year. The organization, during its history, has launched an initiative to help out heavily indebted poor countries. It has also become involved in the Financial Stability Forum.

Jon Lambe, UK ambassador to the ASEAN, said South-East Asia was a "high priority" for securing trade deals.

He added: "Trade is a strong driving force in the U.K., and we are extremely proud of our history of free trade.

"We will be the standard-bearer for the best kind of free trade in the world.

"That is another area that we are keen to work with ASEAN on."

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Elizabeth Truss walking down a street: Liz Truss © Getty Liz Truss

Officials recently committed to further strengthening trade and investment ties through a new joint trade dialogue with Thailand.

The Joint Economic and Trade Committee (JETCO) is the UK's first new JETCO in 10 years and offered a significant new opportunity to improve bilateral trade.

Officials also signed a memorandum of understanding which will help ease tariffs in the food and drink, fisheries and agricultural sectors.

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Ms Truss has sought to repair the UK's trading image after the International Trade Secretary's allies made inflammatory statements about post-Brexit negotiations with her Australian counterparts.

In comments deemed "disrespectful" in Canberra, a source in Ms Truss's department described Dan Tehan to the Telegraph as "inexperienced" ahead of his visit to the UK today.

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a close up of a man: Dan Tehan © Getty Dan Tehan

Trade deal progress was criticised as "glacially slow", while Ms Truss was said to be planning to sit her guest in "an uncomfortable chair" in the Foreign Office's Locarno Room "so he has to deal with her directly for nine hours".

After the comments were published, the Cabinet minister released a statement saying she looks forward to giving Mr Tehan a "warm welcome" as they build on the "good progress we have already made".

The Sydney Morning Herald reported that Ms Truss had also texted her counterpart in a bid to smooth things over, but also quoted an Australian trade official as criticising the earlier remarks.

Ministers at the G7 meeting will mainly look to establish a shared approach among the world's leading democracies on equitable vaccine access, to agree on global girls' education targets, rigorous goals on climate finance and new measures to prevent famine and food insecurity.

Mr Rabb said: "The meeting of G7 Foreign and Development Ministers next month is an opportunity to show how the world's biggest democracies work together to ensure equitable access to vaccines, build back better from the pandemic, support girls in the poorest countries get a good quality education and agree ambitious action to tackle climate change."

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