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In conversation with Minister of State for Investment, Lord Grimstone of Boscobel KT

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December 18, 2020
DKUK members exclusive event with fellow CFCC members in session with Lord Grimstone of Boscobel KT, Minister of State for Investment at the Department for International Trade and the Department for Business, Energy & Industrial Strategy.

Lord Grimstone gave us fascinating insights into the UK’s world of Investment and Trade. He joined politics from the City as COVID struck and admitted, the 18 hour days and dealing with this very unusual world has ranked 2020 the “worst” year in his life. He alluded to the most difficult decisions being around balancing the economy and the risk to people’s health and the health systems.

There is a clear role for all us foreign chambers, as Lord Grimstone has stated, one secure way of supporting economic recovery to pay for the costs of the pandemic is through trade. This will be true to all countries not only the UK.

He was positive about the ability the UK has now to trade freely with the world outside of Europe. He focused more on continents to the East of the UK and in question time covered the efforts progressing on the African continent.

He talked about the freeport program to ease movement of goods and referred to the nature of the new Japan trade deal and the similar rollover deals with many other countries, each then able to be tailored to specific needs – so improving the trading opportunities for the UK.

The not yet negotiated Brexit in his view means business has to plan for either a deal or a no deal but appeared hopeful for a deal.

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