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Tech firms will be key to economic recovery post-Covid

(Image credit: Image source: Shutterstock/violetkaipa)

As the UK economy looks to recover from the aftermath of the Covid-10 pandemic, all eyes are set on technology businesses and their digital exports. In a recently held virtual event, government ministers and entrepreneurs encouraged UK tech businesses to look for new opportunities overseas.

During the Tech Nation’s Unlocking Global Tech event, head of Europe and Eurasia at the World Economic Forum (WEF), Martina Larkin, said the recovery needs to focus on digital transformation, energy transition, training and skill building, particularly for the younger workforce, Computer Weekly reported.

“The common message here is that the recovery cannot be a restart, we need to have a sort of Schumpeterian approach. We have to have some creative disruption in our economies, and entrepreneurs and innovation will have a critical role to play in this process,” she said.

Adding to the thought was minister for exports at the Department for International Trade (DIT), Graham Stuart, who said the government was set on helping UK firms “embrace exciting new opportunities for trade and investment that are emerging across the globe.”

“Tech is right at the heart of this endeavor,” he added.

Stuart also said he’d spearhead the development of a new export strategy to support businesses:

“That will work in tandem with world-leading free-trade agreements that we’re currently negotiating with the US, Japan, Australia and New Zealand,” he said. “We’re determined that all these agreements should contain ambitious, modern digital chapters, and we will pursue leading-edge provisions that cover everything from cross-border data flows to cyber security.”