Trade and cybersecurity | #techUKDigitalTrade
Enhancing cyber resilience would have significant economic benefits across all sectors of the UK economy and make the country a more attractive place for technology and digital firms to invest in. HP is working with the Labour front bench to ensure that cybersecurity is embedded into public procurement processes and a key consideration when awarding public sector contracts. It is essential to enhance cyber resilience to ensure that the UK remains at the forefront of cybersecurity across the globe.
The UK has the potential to lead the world in digital trade policy and international regulatory cooperation on tech. The sector is a significant driver of economic growth in the UK, with a network of international agreements that deliver productivity, jobs and innovation. One of the biggest challenges for organizations navigating this system is cybersecurity.
Trade and cybersecurity are increasingly intertwined. The expansion of the internet globally and the use of data flows by businesses and consumers are transforming our approach to international trade. As global interconnectivity grows, however, so does exposure to the risks and costs of cyberattacks. Protecting confidential data and information must be one of the government’s strategic priorities when agreeing on future trade deals. Enhancing cyber resilience would have significant economic benefits across all sectors of the UK economy.
HP’s Cybersecurity Threat Reports detail the growing sophistication of cybercrime activity, and the solutions organisations require to stay ahead of future threats. For example, our most recent Treat Report shows that attackers are bypassing perimeter network security controls, such as email gateway scanners, by embedding malicious links in PDF files. Indeed, HP Wolf Security detected a 38% rise in PDF malware in Q4 compared to the previous quarter. As the UK public sector, commercial organisations, and consumers face the growing threat of attacks from nation-states, criminals, and rogue actors, we need to embed cybersecurity criteria into all future trade negotiations.
The most recent US National Cybersecurity Strategy reaffirms the need to “strengthen the capacity and interoperability of those allies and partners to improve our ability to optimize our combined skills, resources, capabilities, and perspectives against shared threats.” As set out by the World Economic Forum it also aims to increase collaboration with international coalitions and partnerships to counter threats to the digital ecosystem. The UK should be looking to coordinate with like-minded partners on tech to embed cybersecurity in the international trade system.
Enhancing cyber resilience would make the UK a more attractive place for technology and digital firms to locate and invest in, especially in new technologies such as AI and FinTech where security concerns are paramount. In addition, we need to strengthen cybersecurity within our own public sector. HP calls upon government to ensure cybersecurity criteria are embedded in any new National Procurement Policy Statement.
In conclusion, embedding cybersecurity into international trade is essential to the future of digital trade governance. Cybersecurity is a critical issue that should be taken into account when negotiating trade deals. Protecting confidential data and information must be one of the government’s strategic priorities when agreeing on future trade deals. It is essential to enhance cyber resilience to ensure that the UK remains at the forefront of cybersecurity across the globe, making it a more attractive place for technology and digital firms to locate and invest in.
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