10 UK Export News You Might’ve Missed – Week 14
(Also published on LinkedIn)
In this edition of Export News from Expordite, we’ll cover top 10 UK export news and headlines from week 14 of 2023 – April 3-9, 2023.
General Export Updates
1. British Businesses set to benefit from £10 billion boost to UK Export Finance support
“UK Export Finance has been granted an extra £10 billion of capacity to drive more UK exports, raising its maximum exposure limit from £50 billion to £60 billion.
The additional capacity will ensure the export credit agency’s continued ability to support UK exporters and to deliver on its mission: to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer.”
Source: GOV.uk
2. Boost for Welsh businesses as UK strikes deal to join major free trade bloc in Indo-Pacific
“The Welsh economy is expected to benefit after the UK Government today (31 March) announced the conclusion of trade talks with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a vast free trade area spanning the Indo-Pacific.
The bloc is home to over 500 million people and will have a total GDP of £11 trillion once the UK joins. Joining the bloc could boost the Welsh economy by improving businesses’ access to some of the world’s largest markets.
There are numerous opportunities for Welsh businesses to benefit from joining CPTPP, with more than 450 businesses in Wales exporting over £900m worth of goods to CPTPP countries in 2021.”
Source: GOV.uk
3. Post-Brexit checks on goods from EU into UK announced after delay
“The new Border Target Operating Model involving fewer checks and bureaucracy, and more digitisation – backed by more than £1bn in funding – has been announced to “minimise trader burdens and maintain border security while remaining aligned with international standards”.
The government has delayed putting in place the checks four times, which are legally required under the Brexit trade deal with the EU, due to worries about port disruption. The delays had caused considerable friction with Brussels.
But details of the new customs and regulatory process have now been agreed by the government and are set to be introduced later this year and fully implemented by 2027.
It is currently a draft and the government wants businesses to provide feedback before it is set in stone.”
Source: Sky News
4. Foreign demand for UK goods contracts for 14th month in a row
“Foreign demand for UK manufactured goods has contracted for the 14th month in a row, according to the latest Purchasing Managers Index published this morning.
Falling new export orders in March are “a significant drain on demand” according to Rob Dobson of S&P Global Intelligence, who put together the survey, “offsetting signs of a modest revival in the domestic market”.
Source: Channel 4 News
Sustainability Exports News
5. High level of glass recycling exports hits UK manufacturing supply
“British Glass has warned that the UK glass packaging industry is “reaching crisis point” due to a high volume of unprocessed UK glass being exported rather than processed and recycled in the UK.
The industry body argues that the packaging recovery note (PRN) system, and its export version (PERN), can incentivise mixed unprocessed glass to be exported for remelt as it is more profitable than processing in the UK.”
Source: MRW
Food Export News
6. China in our hands? Far East beckons for Scottish staples
“In the coming decade that global middle class will grow by around 900m people, which is quite a scary number in itself. But China is going to account for around 500m of that. The high-income population in China is going to grow from around 30m now to around 115m people by 2035.
“For many of these, Scottish brands have real value attached. Things like a back story, tradition, sustainability, locality, can be really, really important. Whether it is Scotch whisky, (higher) education, Scottish seafood, playing into that rising Chinese middle-class consumption is such an important opportunity for UK regional businesses.”
Exports from the UK to China last year were more than £30bn, up around 16%, while those from Scotland alone to the Middle Kingdom were £800m.”
Source: Press and Journal
7. Beanies Coffee tackles pod market with new compostable products for UK and export
“The County Durham-based firm, which supplies major UK retailers and exports, is moving into the market with its Nespresso-compatible pods that come in vanilla, caramel and hazelnut flavours. Having picked up a Queen’s Award for International Trade in 2022, Beanies will sell the products in the UK and its 35 export destinations.
Late last year the 46-strong firm, which operates out of a Darlington base, revealed it had started selling to Australia after online sales peaked during Covid. The firm said it was keen to build up sales again and hailed markets in South Africa, India, Malaysia, and Japan as an opportunity to do so.”
Source: BusinessLive
8. What could start a boom in UK cider exports?
“Cider is seen as a quintessentially British drink. After all, the UK boasts some of the largest cider-producing companies. But is it fulfilling its potential when it comes to exports?
That depends on who you speak to. The likes of Aspall, Westons and Thatchers have sold their wares to markets outside the UK for many years.
Chief cidermaker Barny Butterfield says he regularly reviews potential export markets and sees it “as a massive opportunity”.
But he believes more needs to be done. “UK cider has a huge export potential – the best makers in the world should be representing the UK globally,” he says.”
Source: The Grocer
9. UK-Australia Free Trade Agreement: competition or cooperation?
“Australia might not be the UK’s largest export market, but it’s certainly a valuable one, not least because it could open doors to being allowed into The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP). The two countries also share roots and a love for each others’ produce, which will no doubt taste more delicious once the abolition of tariffs will drive prices down. In fact, the UK can’t get enough of Australia’s wine, and one of Australia’s largest imports from the UK is hard liquor, in particular whisky and gin.
This deal will also introduce new indigenous flavours to the UK.
“In Australia, we are quite fortunate to have a very unique landscape, flora and different plants to the rest of the world. So there are a number of products that are unique to Australia, such as lemon myrtle, for example, an ingredient often used in spices, rubs, but also marmalades and different spreads. It gives food, a really kind of unique, delicious flavour. We also have finger limes and lime caviar that I know is already available in some restaurants here in the UK, coming from Australia, but something that we could certainly scale more broadly once the free trade agreement is in force. That’s a citrus plant that’s quite unique. It only grows in Australia – very much unique to us. It has a slightly different milder citrusy flavour, and also has a lot of really positive health benefits and properties.”
Ana Nishnianidze
Source: Food Matters Live
10. Food companies to foot bill for Brexit border posts under new plans
“The UK’s new post-Brexit border plan, published this week, could see food companies paying many millions of pounds to help the government recover costs for its new Brexit border posts.
After repeatedly delaying border checks for EU goods entering the UK, the government today published a draft proposal for the new “simplified” process due to launch later this year.
The new Border Target Operating Model builds on the previous proposals agreed as part of the Brexit trade deal.
Under the plans, any products such as meat or dairy eligible for physical inspections will be forced to pay between £20-£43 per consignment to help the government “recover operating costs which are necessary to undertake physical inspections at BCPs [border control posts]”.
Source: The Grocer
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