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I am delighted to be speaking at City Week for the first time and welcoming you all to today鈥檚 exciting FinTech programme.

Since I became Trade Secretary seven months ago, I鈥檝e travelled the world, banging the drum for the UK鈥檚 financial services everywhere I go.

I鈥檓 so pleased we were able to have the Ukrainian Ambassador, an extraordinary man. And that I think every single one of the Ukrainian citizens are showing a strength of purpose that I hope we would have if we were under such terrible strain.

But, we have been working very closely as a government, thinking how we can support Ukraine whilst also ensuring that Putin鈥檚 illegal war fails. And we have just announced yesterday the liberalisation of all tariffs with our trade with Ukraine.

We鈥檙e the first to do it, and I鈥檓 going to be encouraging other countries to do the same, whilst trying to use the sanctions tools we have 鈥� both financially and trade 鈥� to bring down Putin鈥檚 ability to fund his illegal war. We also want to make sure we support Ukraine鈥檚 economy, which of course is under huge strain because so much of its agricultural businesses are presently unable to move forward for this year, to help them with every aspect of trade that we can.

And I encourage all of you to think in your own spheres how you can do that. And if there鈥檚 any way you think government can do more to support the Ukrainians, whether in-country or across the world, please do share that as this is a commitment we as a government are one hundred percent committed to and we also want to encourage others across the world to do the same.

But of course as I鈥檝e travelled, and exactly to that, I鈥檝e seen across the world - and I鈥檝e been travelling, from Baltimore to Singapore, Ottawa to Jakarta - this extraordinary passion and success through the strength of the innovation and expertise of our UK鈥檚 banks, wealth managers, and FinTechs, the subject of today鈥檚 particular focus for you.

And I鈥檝e seen it for myself, everywhere I鈥檝e been, your international reputation genuinely is second to none 鈥� I get the best bit, I get to take all the credit for all the hard work you do, as people say to me regularly; you have an extraordinary industry there and we want to do more to be like you.

So we want to harness these international relationships and they want to understand your know-how and be part of the success that UK FinTech brings.

And my message to them has been loud and clear: The City is open for business. The City wants to work with you. The City is staying ahead of the competition.

Because this is what the City has always done.

The drive, dynamism, and determination has made the UK鈥檚 financial services what they are today. Seizing opportunities created by Global Britain.

We are the world鈥檚 largest financial services net exporter, Europe鈥檚 leading fintech hub, and a world-leading fundraising centre.

Over a million people in the UK are employed in financial services, with two-thirds based outside the capital.

As a report from TheCityUK showed, in all but two British regions, financial services are the leading services export. This is levelling up in action.

Your openness to new ideas, markets, and technology has put FinTech at the heart of this national network of financial excellence. Creating high skilled, well-paid jobs; apprenticeships for our young people; and spreading opportunity.

Almost half of Europe鈥檚 Fintech unicorns were built right here in the UK. Klarna is marching ahead in Manchester, Sage is putting the new in Newcastle 鈥� I visited their offices the other day and was fantastic to see a company that I鈥檝e witnessed grow over a number of decades - and Atom Bank is delivering in Durham, just around the corner from my constituency.

While banking giants Goldman Sachs are driving digital and opening a new office at the nucleus of Birmingham鈥檚 burgeoning financial sector.

So, I think we can all agree that in FinTech, business is booming. Last year, the UK racked up more investment than France, Germany, and the Netherlands put together.

This matters. Because FinTech is about more than just finance, it鈥檚 about greasing the wheels of commerce, so entrepreneurs across the country can drive their businesses forward, ignite growth, and accelerate towards global markets.

Whether it鈥檚 Wise moving money across borders seamlessly, Xero making filing accounts a piece of cake, or Tide allowing businesses to set up banking at the drop of a hat, FinTech sets entrepreneurs free to do more of what want to do really well.

Our government couldn鈥檛 value this work and our entire financial sector more.

That鈥檚 why my friend the Chancellor of the Exchequer asked Ron Kalifa to carry out an independent review of UK FinTech, and we鈥檙e pulling out all the stops to deliver his recommendations.

The FCA has already expanded its world-leading Regulatory Sandbox, piloting a new 鈥榮calebox鈥� to support newly authorised firms.

And just last month, my department and Innovate Finance launched the International FinTech Group, uniting industry and government to keep our FinTechs on top of the world.

That鈥檚 also why since we reclaimed our independent trade policy, my department has been opening doors for our financial services businesses across the globe.

Our Free Trade Agreement with Japan cements the City鈥檚 long-standing reputation as a bridge between East and West.

Our deal with Australia boasts ambitious financial services and digital chapters.

And we were the first European nation to sign a Digital Economy Agreement with Singapore, uniting two financial services powerhouses.

And we鈥檙e really just getting started. You have my word - we will do everything in our power to help you to satisfy the global demand for your excellence.

Because hidden obstacles, protectionism, and antiquated rules are preventing our innovators from conquering new markets.

So that鈥檚 why we are continuing on our mission to strike a series of advanced, high-standard agreements with leading nations across the world.

We are on course to accede to the 拢8 billion CPTPP this year, which is going to create a plethora of opportunities for you across eleven dynamic markets. The partnership鈥檚 modern rulebook unlocks trusted cross-border data flows and sweeps away local restrictions that stand in the way of services exports.

The CPTPP is a baseline agreement, so we can break even more ground in deals with its members. Just as we are with Canada. Last month, I travelled to Ottawa to launch negotiations on a trade agreement that鈥檚 going to go much further than ever before in innovation, digital, and data.

In January, I also headed to New Delhi to kick off negotiations on a comprehensive free trade agreement with India, you鈥檒l see that the Prime Minister was there at the weekend, helping our campaign to deliver a really impactful Free Trade Agreement.

We鈥檙e seeing some really radical, different and open views there that we want to harness and we want to work alongside India to get that success.

Both our economies are orientated towards services, digital and tech, but at the moment India is only our 15th largest trading partner. Doing a deal can put this right by giving British businesses a 鈥榝irst mover鈥� advantage in India鈥檚 markets.

We are also leading efforts to make the World Trade Organisation fit for purpose as the home of modern trade.

The WTO was established in 1995, when less than 1% of the world鈥檚 population were online. So, the UK is committed to modernising the organisation and advancing digital regulations.

Before today鈥檚 programme gets under way, I want to make you a promise that our government is completely committed to smashing through the obstacles in the way of our FinTech鈥檚 and financiers and regulating to embrace competitiveness and innovation.

You already provide a platform for our nation to deliver so much wealth and innovation. There is a global appetite for UK services, for FinTech, and for finance. And our trade agreements are opening doors in data, digital, and services.

So, if we strive side-by-side and invigorate investment, we can lead the world in FinTech and digital, stay ahead in finance, and set our businesses free to grow through trade.

Writing a new chapter for our financial services, driving levelling up across the country, and proving the doubters wrong yet again.

Thank you, and I hope you enjoy the concluding day of what鈥檚 been another fantastic City Week.