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The new Government should be “messianic” in wanting to see free trade and open markets across the world, according to Prime Minister David Cameron, who since coming to power has urged a “big step change in our approach to foreign and diplomatic relations in massively upgrading the importance of trade.”

The Coalition Government is clear that international trade is vital, both in terms of the current economic crisis and with regards to the UK’s long-term prosperity.

The Coalition Agreement spelled it out: “We will work to establish a new ‘special relationship’ with India and seek closer engagement with China,” it stated, adding: “We will work to intensify our cultural, educational, commercial and diplomatic links with many nations beyond Europe and North America to strengthen the UK’s relations with the fastest-growing areas of the world economy.”

Speaking in Japan during the summer, the Foreign Secretary William Hague set out the Government’s approach to tradefocused foreign policy in more detail.

In a speech entitled Britain’s prosperity in a networked world, Hague talked about building stronger bilateral relationships and seeking to “elevate key partnerships beyond Europe and North America with countries like Japan.” He said the Government believes that British foreign policy “needs to support the UK economy to a greater degree” and that economic objectives will be “a central aspect of our international bilateral engagement” alongside our other traditional objectives.

Hague then set about depicting exactly what he had in mind, referencing the need for open markets and improved regulation, adding that the Government intends to “inject a new commercialism into the work of the Foreign Office.”

In addition to promoting UK trade relations, Hague was also quick to point out that the Government is cutting corporation tax to 24 per cent by 2014 and working to make the UK the easiest place in the world to start a business.

With the Foreign Secretary visiting China, Japan and the Middle East in the first few weeks of taking office, then joining the massive trade delegation to India, led by the Prime Minister, Hague ensured there could be no doubt about the Government’s commitment to international business.

While “reinvigorating” the relationship with Japan, Hague said the Government aims to build up UK engagement with the emerging powers in Asia, Latin America, the Gulf and Turkey, Europe’s largest emerging economy.

jWith the global middle class likely to grow to over a billion people by 2030, (Continued on page 33...)