David Cameron is to overhaul one of the Government's flagship programmes for promoting British trade in a fresh push that will hand key ambassadorial roles to peers and MPs.
I have learned that the Prime Minister is to designate members of both houses of Parliament to serve as trade representatives for individual countries in an effort to boost business relations with important UK export markets.
People familiar with the initiative said that it had been conceived by Lord Marland, the chairman of UK Trade & Investment's (UKTI) Business Ambassadors group.
Among those expected to be appointed to the new trade representative roles is Lord Risby, who I understand will be handed responsibility for promoting Britain's trade ties with Algeria.
Between six and eight MPs and peers are likely to be appointed initially with more set to follow depending upon the success of the programme.
A Downing Street source confirmed the plans and said they could be announced before the opening ceremony of the London Olympics in three weeks' time.
"It's about furthering the Government's growth agenda," an insider told me. The plans are awaiting final approval from Downing Street.
The new trade representatives will augment, rather than replace, the existing crop of Business Ambassadors, who were appointed by Mr Cameron during a trade visit to China in 2010.
Among the existing batch of senior business figures who undertake trade promotion activity for the UK during trips abroad are Lord Browne, the former BP chief executive, Sir Richard Lambert, former head of the CBI, and Alan Parker, the founder of public relations firm Brunswick.
The effectiveness of the programme is unclear. Critics say many of the ambassadors do little to sell UK Plc and instead focus on promoting the companies with which they are associated.
UKTI and Downing Street declined to comment.
