10 UK Export News You Might’ve Missed - Week 30

In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 30 of 2024 — July 22nd-28th, 2024.

Key News

• UK joins groundbreaking global digital trade agreement
• Ban on the live export of animals from GB comes into effect
• Partners sign MOU to explore UK liquid CO2 exports

General Export News

1. UK joins groundbreaking global digital trade agreement

“The UK has today [Friday 26 July] joined a groundbreaking agreement which is designed to grow the economy by boosting global digital trade.

After five years of negotiations, the UK and 90 other countries have finalised the E-Commerce Joint Initiative at the World Trade Organization (WTO), which will make trade faster, cheaper, fairer and more secure. It will help British businesses, workers and consumers seize the opportunities of global digital trade, which is estimated by the OECD to be worth around £4 trillion and growing.

Once implemented, the agreement will commit all participants to the digitalisation of customs documents and processes. This will in many cases end the need to print forms off and hand them over at customs — a slow, expensive and old-fashioned way of working. “

Source: GOV.uk

2. KBC Bank NV, London Branch joins UKEF financing scheme

“KBC Bank NV, London Branch is the latest lender to join a government scheme supporting UK exporters.

The London-based branch of KBC Bank — the largest Belgian bank in its core markets of Belgium, Czech Republic, Slovakia, Hungary and Bulgaria — is now participating in the General Export Facility (GEF) scheme offered by UK Export Finance (UKEF).

This development allows the UK government — working through UKEF — to support with a partial guarantee of those loan facilities extended by KBC Bank NV, London Branch to UK exporters who are physically present in the bank’s core markets.

This creates new financing opportunities for small and medium-sized UK exporters which are physically present in KBC’s core markets. KBC Bank NV, London Branch is a sector-agnostic lender supporting deals across all industries, with clients ranging from SMEs to large corporations.”

Source: GOV.uk

3. Ukraine and UK sign defence export finance and nuclear supply deals

“The UK and Ukraine have signed an expanded defence pact and an export credit deal for the Ukrainian nuclear energy operator.

A Defence Export Support Treaty, signed last week during a visit to London by Ukrainian President Volodymyr Zelenskyy, will allow Kyiv to use part of UK Export Finance’s (UKEF) £3.5bn capacity for Ukraine coverage to purchase military goods and services.

The treaty expands on a similar agreement signed in 2021 covering exports to Ukraine’s navy. The text of the document has not been published and it still requires ratification by the UK parliament.

Separately, the Ukrainian government has announced the signing of a £181mn UKEF-backed loan to help Ukraine’s nuclear power plant operator Energoatom pay UK-headquartered supplier Urenco for enriched uranium for the country’s nuclear power plants.”

Source: GTR

4. Leonardo continues to see export success and invests an additional £604M in onshore helicopter operations and UK supply chain

“Leonardo in Yeovil, the Home of British Helicopters, has secured £322M of export orders since September 2023. This includes contracts with Japan and South Korea in the past few weeks. In Japan, Leonardo and Kawasaki Heavy Industries (KHI) agreed a contract for additional MCH-101 naval helicopters kits for the Japanese Maritime Self-Defence Force (JMSDF). Meanwhile, Leonardo has signed a five-year support services contract with the Defense Acquisition Program Administration to support the AW159 Maritime Operations Helicopters in-service with the Republic of Korea Navy.”

Source: Leonardo

5. Ban on the live export of animals from GB comes into effect

“The ban on the live export of animals has come into effect, meaning it is now illegal to export livestock for slaughter and fattening from Great Britain.

The Animal Welfare (Livestock Exports) Act applies to journeys from, and transit journeys through, GB to destinations outside of the UK, the Channel Islands, and the Isle of Man.

The legislation, which was created by the previous Conservative government, does not apply to Northern Ireland.

While the ban affects the export of cattle, sheep, pigs, goats, and horses for fattening and slaughter from GB, it does not prevent the export of livestock and horses for breeding or competitions.”

Source: FarmingUK

6. UK and Spain to boost trade relations at Food Nation Summit

“The annual Spain Food Nation Summit is scheduled for the afternoon of 9 September at The Royal Overseas League in central London.

Representatives from the Spanish Embassy’s economic, commercial and agriculture sections will discuss Spain’s performance in the UK market. The Spanish Minister of Agriculture will also attend and close the event.

Foods & Wine from Spain, the body behind the summit, aims to improve engagement with one of Spain’s key export markets. This year, the event will focus on fresh produce, gourmet products and Spanish wine storytelling to provide detailed insights and recommendations.”

Source: Harpers

7. Partners sign MOU to explore UK liquid CO2 exports

“Work on developing a jetty-moored floating liquid carbon dioxide (CO2) storage and export facility from Uniper’s proposed Grain Carbon Capture project on the Isle of Grain in the UK is set to get underway.

Navigator Holdings (Navigator Gas) and Bumi Armada, through their 50–50 joint venture Blustreak CO2, have signed an MOU with Uniper to research the project. The joint venture is expected to be rubber stamped by the end of the fourth quarter.”

Source: Gas World

8. Lammy jets off to India with trade deal back on the UK agenda despite Modi embracing Putin

“David Lammy is due to land in India this week after his cabinet colleague Jonathan Reynolds ordered officials in the Department for Business and Trade (DBT) to reopen trade talks.

The foreign secretary is due to meet his Indian counterpart Vikram Misri as Keir Starmer’s new government tries to complete the major trade deal which eluded the Tories.

But the resumption of relations with India after both countries had elections is also set to spark controversy after Narendra Modi embraced Russia’s Vladimir Putin at a summit earlier this month. The meeting in Moscow saw the Indian prime minister awarded Russia’s highest honour.”

Source: The Independent

9. Brexit. Food record for Italian exports in the UK

“Agri-food is the first item of Italian exports to the United Kingdom with 4.53 billion euros (2023) and the sector with the highest growth in exports in value (+35% on 2017). For the national PDO PGI food sector, the United Kingdom is the 4th destination market, with a 6% share of exports involving over 60 Made in Italy denominations, in particular cheeses (66%), products based on meat (16%) and balsamic vinegars (17%). Numbers that demonstrate the strategic relevance of the commercial partnership even in the post-Brexit era.

These are some of the data that emerge from the report “Brexit effect on the Italian PDO PGI sector” created by Origin Italia in collaboration with the Qualivita Foundation and with the contribution of the Ministry of Agriculture, to analyze the economic and regulatory framework inherent to the agri-food sector of PDO products PGI in the United Kingdom four years after its exit from the European Union.”

Source: EFA News

10. Taskforce Reveals Five-Step Plan to Supercharge SME Exports

“The Federation of Small Businesses (FSB) was asked to lead on an SME Export Taskforce by Jonathan Reynolds MP when he was Shadow Business and Trade Secretary, to address the fact that only 10% of small firms trade internationally.

The taskforce, which features input from companies such as Amazon UK, EY, and Santander, found that the current rules make trading difficult, that Government support is confusing and not always helpful, and the firms that do trade do not have adequate advice.”

Source: Business News Wales