10 UK Export News You Might’ve Missed – Week 13
(Also published on LinkedIn)
In this edition of Export News from Expordite, we’ll cover top 10 UK export news and headlines from week 13 of 2023 – March 27-April 2, 2023.
General Exports News
1. UK strikes biggest trade deal since Brexit to join major free trade bloc in Indo-Pacific
“The UK will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a vast free trade area of 11 countries spanning the Indo-Pacific, the Prime Minister has announced today [Friday 31March]
The historic agreement follows two years of intense negotiations by the Department for Business and Trade and puts the UK at the heart of a dynamic group of economies, as the first European member and first new member since CPTPP was created. “
Source: GOV.uk
2. UK-Asia trade deal to boost UK economy by 0.08%
“The UK has signed a deal to join a trade pact with 11 Asia and Pacific nations, three years after it officially left the European Union.
Joining the group will boost UK exports by cutting tariffs on goods such as cheese, cars, chocolate, machinery, gin and whisky, the government said.
However, the government’s own estimates show being in the bloc will only add 0.08% to the size of the UK’s economy.”
Source: BBC News
3. Jobs and investment boost for East Midlands as Freeport gets green light
“New high-quality jobs and much-needed investment for the East Midlands region will be unlocked today, as the East Midlands 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.
It will help encourage investment into sectors including automotive, space, and satellites sectors, generating thousands of jobs and boosting the local economy.”
Source: GOV.uk
4. Business and Trade Secretary opens up markets worth £11 million every day to UK businesses
“Earlier this year, Badenoch made the removal of these trade barriers one of her top five priorities, committing to lifting 100 of the most significant hurdles.
Those successfully targeted in the last 200 days include:
- Removing a ban on importing luxury products including toys, diamonds and colour TVs to Nepal.
- Reducing registration requirements for pharmaceutical products to Vietnam.
- Relaxing the foreign ownership cap on renewable energy projects in the Philippines, allowing UK companies to invest in the development of solar, hydro, tidal and wind energy.”
Source: GOV.uk
5. UK government threatened with legal action over Australia trade deal
“A campaign group has taken the first step towards legal action against the UK government over its free trade deal with Australia, arguing that it flouts Britain’s international climate obligations.
Global Feedback, a UK and Netherlands-based group, said it would seek a judicial review, claiming ministers failed to carry out proper due diligence on the environmental impact of importing Australian agricultural products, such as beef and dairy.”
Source: FT
Vehicle Exports Updates
6. UK car production up 13.1%, driven by uplift in exports
“UK car production was up 13.1% year-on-year in February, driven by an uplift in export numbers.
The Society of Motor Manufacturers and Traders (SMMT) said that 69,707 cars were made last month, with 81.2% of those destined for overseas markets.
Almost 60% of those exported went to the European Union, by far the biggest market for UK-made vehicles.
Smaller numbers headed for Japan, Australia and Turkey – offsetting a decline in the number destined for China and the US.”
Source: Sky News
Food Exports Updates
7. UK beef trade sees year-on-year increase in January
“Moving onto beef exports, we saw quantities of beef leaving the UK reduce by 20.7% MOM, totalling 8,100 tonnes for January. This was mainly driven by exports to Hong Kong reducing by 1100 tonnes (-93.4%) as demand has dropped in part from reduced demand from tourism. However now that the market has re-opened following the relaxation of COVID restrictions, it will be interesting to see how beef imports from the UK progress over the coming months. Looking to other markets, despite exports to France decreasing by 500 tonnes (-22.4%) on the month, YOY exports to France were up 66% at 1,900 tonnes.
This, alongside YOY export increases to Ireland, The Netherlands and Germany, outweighed export decreases to Canada and Japan to name a few, helping to drive a 13.7% YOY increase in fresh and frozen beef exports.”
Source: AHDB
8. Northern Ireland food & drink businesses to showcase their products and discussed new export sales with over 60 international buyers
“Eleven smaller food and drink companies from Northern Ireland are now benefiting from an initiative by the UK government to explore export opportunities in 20 global markets.
They joined over 200 similar businesses from across the UK for a unique Food and Drink Showcase that featured international buyers invited by the government to London.”
Source: News Letter
9. Farming industry welcomes UK joining CPTPP with boost for exports
“Industry bodies have cautiously welcomed the move by government to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Improved access to the 11 countries in the trade bloc is expected to provide significant opportunities for UK farming.
However, there are still concerns around the finer details of the agreement and import standards.”
Source: Farmers Weekly
10. All UK honey exports fail EU fraud tests
“All UK honey tested by EU investigators has failed authenticity tests, while nearly half of the honey imported into the EU is suspected of being “adulterated”.
An investigation by the EU has found that all 10 of the British honey samples it tested have failed authenticity tests.
The honeys tested were likely to have been produced abroad then blended in the UK before being exported to the EU, officials said.
The findings, published in the EU report From the Hives, also revealed almost half (46%) of all honey imported into the EU had “at least one marker of extraneous sugar sources” – the sign of it being adulterated.”
Source: Supply Management
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