LONDON, Jan. 22 (Xinhua) -- The Federation of Small Businesses (FSB), a British business organization representing small and medium-sized enterprises (SMEs), along with the UK Trade Policy Observatory (UKTPO) at the University of Sussex released a report Wednesday, calling on the British government to amplify the voice of Britain's SMEs in future trade agreements.
The report, the representation of SME interests in Free Trade Agreements (FTAs), highlighted what small businesses need to take advantage of FTAs.
According to the report, U.S., Germany, France, Ireland and Canada are top five destination markets for British small exporters, and China is among the top five origin markets for British small importers over next three years. The European Union (EU) Single Market and Customs Union is the most important trading bloc for current British small exporters and importers.
Mike Cherry, national chair at the FSB, said small businesses are already the backbone of Britain's domestic economy. It is essential that the needs of smaller firms are at the heart of future FTAs through a dedicated small business chapter in each agreement, and that the government has the necessary architecture in place, to ensure the small business voice is heard loud and clear.
"If the UK economy is to take advantage of the opportunities that are opening up, SMEs will be a central part of the picture. Making sure that trade agreements cater to their needs should be a top priority for government," said L. Alan Winters, professor of economics and director of the UKTPO, University of Sussex.
British Department for International Trade (DIT) welcomed the report on its official Twitter account, saying that "DIT will use all aspects of the Britain's independent trade policy to support SMEs". Enditem
