Responding to news that the Government is to renew its commitment to UK Trade & Investment, David Frost, Director General of the BCC, said:

"As our recent Quarterly Economic Survey showed services and manufacturing export balances worsened in Q2. It is vital that government works with business to promote UK exports. The trade deficit stands at record highs, widening to £4.4bn in May, with a deficit in goods of £6.8bn. British firms have so much to offer foreign markets and the government's renewed commitment to UKT&I is to be welcomed."

"Businesses have been concerned by the Government's focus on attracting foreign direct investment and this has had a marked effect on exports. Trade promotion is vital to ensure that our international trade has a free-flowing and healthy balance of imports and exports. If the Government is seriously committed to UKT&I then its budget must not be cut in the coming spending review."