5: Business and Economy

Supporting the UK economy and business through an open and expanding global economy, science and innovation and secure energy supplies

Other Information:

As an open, trading nation with global interests, the UK has a strong stake in the health of the global economy, in promoting open markets, and in preventing protectionism. We will encourage economic and political reform and international co-operation to promote global economic development. This includes supporting an open, fair and sustainable multilateral system of world trade based on the WTO, fighting corruption, removing barriers to investment, minimising the risks of financial instability and improving levels of economic governance globally. The future of our economy depends on secure and sustainable access to energy supplies. As the UK relies increasingly on imported energy, we need to work internationally to support open and diversified energy markets that ensure long-term security of supply. We will also promote renewable and other cleaner technologies, and work to improve longterm energy efficiency. As global competition grows, we must develop further our scientific and educational excellence, and promote technological and other business innovation. International collaboration in these areas will be important in developing economic opportunities for the UK and in tackling global challenges such as climate change, energy security and infectious disease. Trade and investment are essential elements of UK prosperity and contribute to UK productivity. Working through UK Trade and Investment (UKTI), we will help the UK economy to respond to the challenges of globalisation by supporting UK companies in developing their business internationally, and by working to attract a continuing high level of quality foreign direct investment, with a focus on knowledge driven projects.

Objective(s):

5.1: WTO Doha Trade Round

5.2: International Economic Rules and Standards

5.3: Economic Climate Promotion

5.4: Corporate Responsibility and International Corruption

5.5: Economic Governance in Emerging Markets

5.6: Energy Sources and Transit Routes

5.7: Science and Innovation

5.8: Good Practice and Policy Innovation

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