10 UK Export News You Might’ve Missed – Week 12
In this edition of Export News from Expordite, we’ll cover top 10 UK export news and headlines from week 12 of 2023 – March 20-26, 2023.
But first, here’s our guide to UK cheese exports that we put together this week for you.
And here’s the latest exports update:
General Exports News
1. UK and Welsh governments work together to deliver two Freeports in Wales
“Two new Freeports, one in Anglesey and one in Port Talbot and Milford Haven, will help to create jobs, drive growth and level up opportunities across Wales, the UK and Welsh governments have jointly announced today (Thursday 23 March).
The new sites are estimated to bring forward almost £5 billion in private and public investment and create over 20,000 new, high-skilled jobs, backed by up to £26 million each in UK Government funding. This will help to boost the economy and address gaps that are currently holding back investment.”
Source: GOV.uk
2. UK signs historic trade deal with Ukraine as part of enhanced support
“The UK today [Monday 20 March] signed a pivotal digital trade deal with Ukraine that will support the country’s economy and greatly enhance the UK-Ukraine trade and investment relationship.
In the margins of the Road to URC event, the UK confirmed its intention to extend the removal of tariffs on Ukrainian products until March 2024. This follows the UK’s world-leading decision in May 2022 to cut tariffs on all goods from Ukraine to zero and will provide much needed support to Ukrainian businesses given the impact of the war on Ukraine’s ability to export goods.”
Source: GOV.uk
3. UK and EU formally adopt new Brexit Windsor Framework deal
“The new Brexit deal for Northern Ireland has been formally adopted by the UK and EU, Downing Street has said.
Known as the Windsor Framework, it is designed to make trade between Northern Ireland and the rest of the UK easier.
It gives the Stormont assembly more say over EU rules and has been welcomed by most Northern Ireland parties.”
Source: BBC News
4. Northern Ireland voters back Windsor framework – poll
“People in Northern Ireland who support Rishi Sunak’s post-Brexit deal vastly outnumber those who oppose it, according to a survey.
Asked if they opposed the Windsor framework, just 16.9% of voters agreed, suggesting there is a desire to move on from political battles over trading arrangements. Overall 45% of voters did not oppose the revised deal, with around a third neither agreeing or disagreeing.
Nationalists were slightly more opposed to the deal than unionists – 19.1% versus 15.7% – underlining a widespread belief it was a victory for unionism.”
Source: The Guardian
5. UK and Albania outline £4 billion ambition for closer export ties
“The Chief Executive of UK Export Finance (UKEF), Tim Reid, today meets with the Albanian Prime Minster, Edi Rama and Finance Minister, Delina Ibrahimaj, to cement their £4 billion ambition for a closer UK-Albania export relationship. This £4 billion marks a doubling of the previously published market risk appetite for UKEF support for Albania and signals the huge opportunity available for UK exporters.
Total UK exports to Albania reached £144 million in the 12 months to September 2022, an increase of £97 million in current prices on the previous year. The visit will build on this growing trade relationship and result in an agreement to work more closely.”
Source: GOV.uk
6. What does Wales export globally – and who is buying?
“It is more a question of where we are not selling. According to official records, Wales is sending exports to more than 100 destinations, from Albania to Venezuela.
We sell enough to 99 individual states to warrant separate entries in the government’s databases, with other parts of Asia, Africa, South America and eastern Europe clubbing together to spend £568m since 2016.
The EU remains the largest export market for Wales, accounting for £20.7bn in sales for the last two years, with the remaining parts of continental Europe outside the EU and the rest of the globe making up £15bn.”
Source: BBC News
7. RIA sets out plan to boost rail exports in International Trade Select Committee Inquiry response
“The Railway Industry Association (RIA) has submitted a series of recommendations to the International Trade Select Committee Inquiry, setting out how the UK Government can grow rail exports and boost UK trade.
The Committee is holding an Inquiry into export opportunities and whether UK exporters are able to take advantage of them, and is examining the current situation for exporters, the support offered by Government, and how easily exporters can access that support.
Responding to the Inquiry, RIA submitted eight key recommendations…”
Source: Rail Business Daily
“A new report has found that if UK exports had rebounded as strongly as Germany’s following the pandemic, it would be exporting $111bn more than is currently the case.
The Access All Areas: Markets report from small business support platform Enterprise Nation and The Entrepreneurs Network found that even if the UK had simply kept pace with other G7 countries, it would be exporting $65bn more.”
Source: Bdaily News
9. Jobs and investment boost for Thames region as Freeport gets green light
“New high-quality jobs and much-needed investment for the Thames Estuary region will be unlocked today, as the Thames Freeport receives final government sign off.
The Freeport will now receive up to £25 million seed funding from government and potentially hundreds of millions in locally retained business rates to drive growth in the UK’s advanced manufacturing, biomanufacturing, logistics, and low carbon industries.”
Source: GOV.uk
Food Exports News
10. Food, drinks and IOE&IT-powered export talks from the floor of IFE 2023
“At the International Food and Drink Event (IFE) this week in London (20-22 March), thousands of professionals from the food and beverage industry gathered to sample products, build connections and promote their fares to fellow attendees.”
Source: IOE&IT
Want to get more international trade content straight to your inbox?
