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Global Economy home
Global Economy

As an open, trading nation with global interests, the UK has a major stake in promoting an open, fair and sustainable multilateral system of world trade based on the WTO, fighting corruption, removing barriers to investment, minimising the risk of financial instability and improving levels of economic governance.

The FCO's Strategic priority 5 is to work to Support the UK economy and business through an open and expanding global economy, science and innovation and secure energy supplies. Within that framework, the FCO aims to:

Top objectives for SP5 for 06/07 (not in priority order)

  • Achieve a successful conclusion of WTO Doha Development Round which benefits developed and developing countries.
  • Support effective and fair international economic rules and standards, and help UK business develop the skills and capacity to meet the challenges of globalisation. Promote the UK as an attractive destination for business, investment and study.
  • Fight international corruption, encourage corporate responsibility in order to promote development, build trust and reduce risks to global business.
  • Help to improve economic governance in key emerging markets such as China, India, Brazil, Mexico South Africa and in the Middle East, Africa and the EU's Eastern neighbours.
  • Help to promote the development of secure, sustainable and diverse energy sources and transit routes, including developing a coherent and liberal EU energy policy.
  • Help ensure the UK remains at the cutting edge of world science, uses science and innovation for sustainable development and to promote UK influence.
  • Support exchange of good practice, policy innovation in all areas of domestic policy through international co-operation, in particular in science and technology, education, health, creative industries and legal services.