ABPI response to proposed UK-‘Rest of the World’ FTA negotiation approaches

The UK Government has published its proposed approach to negotiations for Free Trade Agreements (FTAs) with other ‘priority partners’, besides the EU.

In a Written Ministerial Statement, the Secretary of State for International Trade Liz Truss set out the Government’s key priority to deepen trade and investment relationships with the USA, Japan, Australia and New Zealand.

Richard Torbett, Chief Executive of the ABPI, said:

“As the UK looks to strike new trade agreements across the world, we share the Government’s ambition to make the UK a leading global hub for life sciences. 

“Securing the UK’s reputation as an attractive destination for global research and development investment will be key to achieving this.

“Our priority is for the UK and EU to explore the best way to cooperate on medicine regulation, as both sides have already agreed to do in the next stage of negotiations.”

Regarding a UK-US Free Trade Agreement, the Government says it will be setting out negotiating objectives in due course. Richard Torbett, said:

“The US and the UK are two of the most advanced economies in the world and represent the leading edge of global life sciences. We support a future trading relationship that builds on our mutual strengths, so that we can better develop the treatments of the future together.”