The IEA report has backed the government's proposed Precision Breeding Bill, which aims to update the regulatory framework related to precision-bred plants and animals developed through techniques such as gene editing.
The think tank - which influenced the policy ideas of former prime minister Liz Truss - also said that the UK must go further than current reforms and embrace genetic modification.
Gene editing is a process of modifying the existing genetic material of an organism. It has been portrayed as a powerful tool that can boost sustainable farming, fight nutrient deficiencies and reduce consumer food prices.
Technologies developed in the last decade enable genes to be edited more quickly and precisely to mimic the natural breeding process, helping to target plant and animal breeding. Some proponents of the science argue that this could help the UK reach its climate and biodiversity goals in a safe and sustainable way.
Under the EU legislation...