The Prime Minister David Cameron gave a statement on the global trade deal agreed by the World Trade Organisation.
The Prime Minister said:
Trade is a vital part of our long-term economic plan and was one of my G8 priorities this year. So I am delighted that we have secured an impressive global deal worth over £1 billion a year to British businesses and £70 billion globally.
This deal will help boost our exports, meaning that UK companies can grow and employ more people. If just 100,000 small businesses either start exporting or spread to new markets over the next 5 years, this would generate an extra £30 billion for the UK economy and create 100,000 new jobs.
By slashing barriers to trade, this deal will also provide a lifeline to the world’s poorest people. Helping developing countries to grow is not only the right thing to do, but it also increases potential markets for us all. So this really is win-win and the World Trade Organisation is to be commended for this historic deal.