10 UK Export News You Might’ve Missed – Week 41
In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 41 of 2023 — October 9th-15th, 2023.
But first, make sure to check out our new video about Going Global – see you there!
Key News:
-
Brexit: ‘Call us’ on trade, says German finance minister Christian Lindner
-
Epizootic haemorrhagic disease: UK suspends trade of live cattle and sheep from France
General Export News:
1.Aviation specialist DEA secures multi-million pound export finance package
“DEA Aviation Limited (DEA) has secured new, multimillion-pound growth funding from Santander UK with the support of UK Export Finance (UKEF), the UK’s export credit agency
Based at Retford Gamston Airport in North Nottinghamshire, DEA is a provider of specialised aerial data acquisition services to the intelligence, surveillance & reconnaissance (ISR), search & rescue and aerial mapping sectors. It provides critical security services demanding class-leading safety and compliance processes. DEA now employs over 200 people worldwide, most of whom are highly-skilled engineers, pilots, sensor operators, systems architects and software developers operating from accredited facilities in Nottinghamshire.
DEA expects to use the additional growth funding to create jobs and to increase capacity and capability investment to meet customer demand in its complex and growing end-user markets across the UK, Europe and beyond.“
Source: GOV.uk
2.Brexit: ‘Call us’ on trade, says German finance minister Christian Lindner
“The German finance minister has extended a surprise invite to the UK to take “new steps” on post-Brexit trade relations with the European Union (EU).
In a BBC interview, Christian Lindner said: “If you want to intensify your trade relationship with the EU – call us!”
During the discussion on the margins of the IMF and World Bank’s annual meetings in Marrakech, Mr Lindner said that the UK had a “standing invitation” on future talks aimed at reducing trade barriers, or “obstacles in daily business life” that had arisen.
The UK slipped from third most important export partner to eighth. Combining trade both ways, the UK is no longer in the top 10 of German trade partners.”
Source: BBC News
3.UK Trade: August 2023
“The value of goods exports decreased by £0.7 billion (2.2%) because of a fall in exports to non-EU countries, while exports to EU countries remained stable in August 2023. This decrease was mainly because of falls of £0.4 billion in chemicals exports, £0.2 billion in machinery and transport equipment exports and £0.1 billion in exports of fuels. The decrease in exports of chemicals was the result of lower exports of organic chemicals to the United States. The fall in machinery and transport equipment can be attributed to lower exports of cars to the United States and China, and mechanical machinery to Turkey and Hong Kong.
The total trade in goods and services deficit narrowed by £3.5 billion to £10.4 billion in the three months to August 2023, as imports fell by more than exports.”
Source: ONS
4.UK services exports stable but goods dip in ONS update
“The UK has continued to underperform the rest of the G7 on goods exports but its services exports remain strong, according to new data released yesterday by the Office for National Statistics (ONS) for the month of August.
The UK’s export picture remains less than ideal when compared with other major western economies, lagging behind the US, Germany and Canada in export growth.
In the three months leading up to August, however, the UK’s trade deficit in goods and services shrank by £3.5bn as imports dropped faster than exports. The gap in goods trade closed by £5.9bn, although the services surplus did narrow by £2.5bn.
Ultimately, data over the last year has been more encouraging for UK services, which have grown 18% in the last 12 months. Services exports saw a small uptick of £0.1bn in August.“
Source: The Institute of Export & International Trade
5.Trade Minister in Peru and Colombia to boost trade with Latin America
“International Trade Minister Nigel Huddleston has today kicked off a multi-state visit to Peru and Colombia to meet counterparts and push forward action to resolve trade barriers.
The Minister will also announce new measures to ease regulation for British pharmaceutical companies in Colombia. Cutting red tape for some of the UK’s most innovative companies will unlock a multi-million-pound market while additionally helping the country access essential products such as medicines and medical devices.
The visits come as new figures show the UK has resolved around £1.3 billion worth of trade barriers that have been preventing UK businesses from exporting their goods and services to the Latin America and the Caribbean region in the last financial year.“
Source: GOV.uk
6.FTA pact with UK critical for India’s ambition to become mfg powerhouse
“As India and the UK inch closer to sealing a free trade agreement, a forthcoming book says the pact is critical for India’s ambition to become a manufacturing powerhouse while the UK seeks to clinch new deals to highlight the benefits of Brexit.
In his forthcoming book The Reverse Swing-Colonialism to Cooperation, veteran journalist Ashok Tandon noted that the Free Trade Agreement(FTA), if clinched, will come at a time when many western economies are pinning their hopes on India to become a bulwark against China’s growing economic and military clout.
Officials of India and the UK are holding hectic parleys to conclude the negotiations for the FTA. The talks were launched in January 2022. There are expectations that the pact could be signed by the end of this month.“
Source: Business Standard
7.Britain to showcase wind energy technology in Taipei
“The British Office Taipei and the British Chamber of Commerce in Taipei are to set up a UK Pavilion at the Energy Taiwan exhibition in Taipei next week to showcase the UK’s expertise in floating offshore wind energy.
The UK is to join in the event for the third consecutive year, this time with 14 British offshore wind energy companies, the largest British participation at Energy Taiwan, the office said in a news release yesterday.
The British participation at the event “clearly demonstrates the UK’s commitment to support Taiwan’s 2050 net zero goals with strong renewable energy development ambitions,” it said.“
Source: Taipei Times
Food Export News
8.British lamb export opportunities discussed on Kuwait trade mission
“In September, ten delegates from seven organisations joined us in Kuwait to set up partnerships with local companies and importers, promoting sustainable British lamb and how it can perfectly complement Kuwaiti cuisine.
The visit followed the launch of our new export strategy, Beyond Borders, which aims to increase market access and export sales while encouraging and supporting more businesses to export.”
Source: AHDB
9.AHDB and UK Government support UK red meat and dairy exports at Anuga
“Yesterday, Kevin Hollinrake MP − Minister for Enterprise, Markets and Small Business at the Department for Business and Trade (DBT) − threw his support behind red meat and dairy exporters showcasing their products at Anuga in Cologne, this year’s biggest agri-food trade show.
At the event, Mr Hollinrake met with exporters on our stand in the British Meat Pavilion, and the jointly organised AHDB and Government Dairy Pavilion stand, which attracts more than 100,000 influential visitors from around the world.
Last month, the Government launched a recruitment drive to appoint five extra agri-food attachés to help boost the UK’s agri-food exports; this brings the total number of dedicated UK agri-food attachés to 16. The new attachés will cover northern Europe, southern Europe, Australia/New Zealand, South Korea and Africa.
UK red meat exports for this year (January−June) were worth £860m – up marginally on the same period in 2022. This was due to increased demand for sheep meat in the Middle East. Dairy exports value for the same six-month period was £983m.“
Source: AHDB
10.Epizootic haemorrhagic disease: UK suspends trade of live cattle and sheep from France
“The UK has suspended imports of live cattle, sheep and goats from France following the outbreak of a disease which can be fatal to cows.
Epizootic haemorrhagic disease (EHD) has been reported in southern France for the first time, having previously been recorded in Spain, Portugal and southern Italy.
The UK’s Department for Environment, Food and Rural Affairs (DEFRA) says it is “closely monitoring” the spread of the disease.
However, it says the risk of the virus reaching the UK is currently “negligible”.
Want to get more international trade content straight to your inbox?
Sign up to Expordite Updates or come see us at Going Global Live in November!
