TRA's Plan to Strengthen UK's Global Trade Position
The Trade Remedies Authority (TRA) has unveiled an ambitious three-year strategy aimed at fortifying the UK's position in global trade while safeguarding against unfair practices. This initiative marks a pivotal step for the independent body, operating independently from the government, as it charts its course from 2024 to 2027, following its establishment post-Brexit to replace the EU's trade defense instruments.
Preparing for Increased Demand:
TRA Chief Executive Oliver Griffiths emphasized the organization's readiness to defend UK economic interests amid a shifting global trade landscape. With subsidies and protectionist measures on the rise, the TRA's strategy focuses on enhancing operational flexibility to manage potential increases in workload efficiently.
Digital Transformation:
A key component of the strategy involves the implementation of a transformed digital service to streamline engagement with businesses and stakeholders involved in live investigations. This initiative aims to improve the user experience and will be supported by enhanced case management and data capabilities.
Investing in Workforce Development:
Recognizing the importance of skilled personnel, the TRA is committed to strengthening its workforce through skills development, leadership programs, and secondment opportunities. By retaining expertise and monitoring performance through staff surveys, the organization aims to ensure effectiveness in its operations.
Evaluating Economic Impact:
The strategy also includes plans to measure the economic impact of trade remedy measures through import monitoring and evaluations of market effects. Initial findings are expected to be delivered in the 2024–2025 period, providing valuable insights for decision-making.
Enhancing Engagement:
Deepening engagement with domestic and international partners is another priority outlined in the strategy. Through stakeholder events and collaboration initiatives, the TRA seeks to raise its profile and benchmark best practices globally, contributing to a fair and transparent trading environment.
Commitment to Fair Trade:
TRA Chair Nick Baird emphasized the organization's commitment to upholding fair trade practices and optimizing performance based on strong foundations. He underscored the pivotal role of the TRA in maintaining Britain's status as a leading advocate for open trade, reinforcing its significance in the global economic landscape.
