By Claire West

Business Secretary Vince Cable today welcomed the appointment of Stephen Green as Minister for Trade and Investment.

Vince Cable said:

“The appointment of Stephen Green sends a strong signal to our trading partners that the Government views the promotion of trade and investment as a key priority. In Stephen we will be appointing a Minister with a long career as a leading international banker, one of the few to emerge with credit from the recent financial crisis, and somebody who has set out a powerful philosophy for ethical business.

“Stephen will be flying the flag for British business abroad as we continue to strengthen our ties with crucial emerging markets and our key economic partners. I am sure that he will prove to be an excellent addition to our Ministerial team who will really help to bring trade and investment to the top of the agenda, and drive the Government’s international message that the UK is open for business. His background will also prove to be immensely beneficial in helping to develop the trade white paper, which I aim to publish at the turn of the year.”

The CBI today also commented on the appointment of Stephen Green and Helen Alexander CBE, CBI President, said:

"Stephen’s extensive international business experience makes him ideally suited for this pivotal role.

"He cares deeply about the UK as a place to invest and do business, and his knowledge of developing markets in Asia and beyond will make him a great asset. I am confident that the CBI’s loss will be a significant gain for UK plc."