LONDON, Aug. 21 (Xinhua) -- Britain's International Trade Secretary Liam Fox announced Tuesday an ambitious new export strategy aimed at increasing the country's total exports to 35 percent of GDP.
Fox said his plan was to transform Britain into a 21st century superpower.
A government-led collaboration with business has been developed after extensive engagement with range of businesses in Britain.
Fox set out how the government will make Britain a 21st century exporting superpower through better use of the overseas network, new online tools and building an extensive business to business network.
Last year goods and services worth more than 800 billion U.S. dollars were exported by British companies, accounting for 30 percent of GDP, with UK exports at a record high, said the Department for International Trade.
The department has estimated that 400,000 businesses believe they could export but don't, while demand for British expertise and goods overseas is growing.
New measures include developing a single digital platform for both domestic business growth and export support and working with large companies to help build the capability of British supply chains.
Fox unveiled his plan in a keynote speech to a business audience in London.
The minister, a key member of prime minister Theresa May's Brexit team, said: "As we leave the European Union we must set our sights high and that is just what this Export Strategy will help us achieve.
"The United Kingdom is a great exporting nation and our exporters lead the way, in creating jobs, raising wages and growing our economy."
Fox said British businesses are superbly placed to capitalize on the rapid changes in the global economic environment, adding: "I believe the UK has the potential to be a 21st century exporting superpower."
He said his international economic department, is determined to support, connect and grow British companies on the world stage through its international network.
Baroness Fairhead, Minister of State for Trade and Export Promotion at the Department of International Trade, said: "As the world's sixth largest exporter, we do punch above our weight, however, we also punch below our potential.
"This Export Strategy sets out to change that and to increase exports as a proportion of GDP from 30 percent to 35 percent, taking us from the middle of the G7 to
near the top. This is ambitious, but achievable. This strategy is a first step, a foundation, for a new national drive to export."
The initiative has been welcomed by the leaders of Britain's main business organisations, such as the Confederation of British Industry (CBI), the British Chambers of Commerce (BCC) and the Institute of Directors (IOD).
