CBI calls on WEF forum to push global trade deals

globeinhandsThe Confederation of British Industry (CBI) has called on world leaders to drive trade deals during the World Economic Forum, taking place in Davos, Switzerland this week.

“The UK economy is in good shape. Whilst the pace of growth is set to cool slightly, we can expect to see solid growth this year and next,” said John Cridland, CBI Director-General.

“However, businesses are facing a choppier global backdrop. Falling oil prices should be positive for the global economy, giving a welcome boost to household incomes and lowering costs for firms, but oil majors, exporters and producers are being hit hard. The struggling Eurozone, which is now in deflation, is likely to remain sluggish for some time and looming political challenges, with Greek elections on the horizon, could further dampen growth prospects.

“So it’s all the more important that we seize opportunities for growth and investment. That means getting large international trade deals over the line – like the Transatlantic Trade and Investment Partnership (TTIP), and an agreement between India and its biggest investor, the EU.”