Next government must work with professional bodies to internationalise trade

Date

31 May 2017

Sections

Euro & Finance
UK in Europe
Trade & Society

Press release

In the lead-up to the UK General Election, ACCA (the Association of Chartered Certified Accountants) has advised the next government to utilise the soft power of UK plc and professional bodies to secure optimal trade opportunities.

Coinciding with the launch of the Labour Party’s vision for international trade, which ACCA will host at its headquarters today, ACCA has five recommendations for an effective post-Brexit international trade strategy:

1.    Recognise the contribution of the business and professional services sector to UK GDP and revenue and ensure that the negotiations provide opportunities for this sector to continue to thrive.

2.    Ensure international strategy is closely linked with UK industrial strategy

3.    Break down existing barriers to SME internationalisation: provide government-backed insurance for UK SMEs to operate internationally and improve market access, for example through enhanced embassy support resources

4.    Ensure that equivalence arrangements are considered early in the negotiations to ensure a smooth transition for UK financial services and to avoid any cliff-edge scenario

5.    Ensure regulatory coherence between UK and EU markets for financial and professional services

Helen Brand OBE, chief executive of ACCA, says:

‘As the global body for professional accountants, ACCA has spent the last century building networks across 178 countries.

‘The next government needs to tap into the wealth of resources and extensive global network that professional bodies, such as ACCA, have to offer during the Brexit negotiations process. A strong international trade strategy is key to the UK’s successful departure from the single market.

‘While considerable resources from across government and business are, understandably, focused on the Brexit process, there must also be resource dedicated to worldwide trade and ensuring that the UK remains open for business, education and investment.’

 

– ends –

 

For media enquiries, contact:

Adele Gilbert, ACCA Newsroom

T: +44 (0)20 7059 5077
M: +44 (0)7753 242 464
E: adele.gilbert@accaglobal.com
Twitter: @ACCANews

 

Notes to Editors

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 188,000 members and 480,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 100 offices and centres and more than 7,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com