10 UK Export News You Might’ve Missed – Week 43

In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 42 of 2023 — October 23rd-29th, 2023.

But first, I’d like to invite you to register to a webinar that I’ll be running on November 9th as part of the International Trade Week 2023, hosted by the Department for Business and Trade. You can register for my event and other awesome events below:

ITW 2023

Now for the latest in UK exports:

Key News:

General Export News:

1. Badenoch leads landmark trade mission to Japan ahead of G7 summit

“Britain’s most sought-after luxury fashion designers including Ettinger and Freya Rose will join a landmark trade mission to Japan to boost exports to the Japanese market.

The trade mission, led by Business and Trade Secretary Kemi Badenoch, is the first Secretary-led trade mission of its kind since 2017, following a luxury goods roundtable discussion in London where some of the delegates presented the exciting opportunities that Japan has to offer.

The visit seeks to increase exports of UK luxury brands to the Japanese market, as part of the Business and Trade Secretary’s mission to hit £1 trillion worth of UK exports by 2030. In 2022, UK fashion goods exports to Japan totalled £134 million, which the department aims to boost even further.”

Source: GOV.uk

2. Japan opens doors to British cooked poultry meat

“British cooked poultry meat products will soon reach Japanese tables thanks to a new market access deal that will benefit UK farmers, meat processers and exporters. The industry estimates that this market could be worth over £10 million in the next 5 years.

UK poultry meat has been exported to Japan since a market access deal for fresh and cooked poultry was secured in 2021, but Avian Influenza outbreaks in the UK have led to restrictions on the trade.

The new agreement enables smoother trade of cooked poultry meat, meaning that additional high value exports to Japan can be made. Moy Park, one of the UK’s largest poultry meat producers, is the first to be officially registered to export cooked poultry to Japan under this agreement from one of its facilities in Grantham, Lincolnshire.“

Source: GOV.uk

3. India, UK FTA Negotiations: Key Updates

“Per media reports in India, trade negotiators from the UK and India may be reaching some sort of compromise on dispute resolution under the proposed bilateral investment pact (BIT).

The Business Standard has learnt that India and the UK are unlikely to finalize their highly anticipated trade deal by the end of October due to unresolved differences between the two parties. “…Officials from the Indian side are currently in London for negotiations”, indicating that the trade talks remain a high priority.“

Source: India Briefing

4. SME Exporters Treading Water

“The Trade Confidence Outlook, conducted by the BCC’s Insights Unit, is a survey of more than 2,000 UK SME exporters. It has revealed exports continue to languish for many of these firms as the global economy remains under pressure.

The proportion of firms all businesses surveyed reporting decreased sales began to worsen in the run up to Brexit and has remained stubbornly higher ever since.

The situation is most volatile for SME manufacturers, with 28% reporting a decrease in exports, 27% an increase, and 45% no change.

This compares to SME services exporters where 23% saw a decrease, 26% an increase and 51% remained constant. “

Source: Thames Valley CoC

5. Brexit ‘shaved £850m off beauty industry’s exports to EU’

“Brexit has led to an £850m fall in the value of the UK beauty industry’s exports to the EU, according to a report by a leading economics forecasting organisation.

The small businesses that make up much of the sector have been “disproportionately damaged” by trade barriers, the report found, while decreased availability of EU workers has caused a skills shortage.

Covid-19 has also affected the sector but the report, sponsored by brands such as L’Oréal and Space NK, identified a divergence in the performance of exports to the EU and the rest of the world.

UK exports of cosmetics and other personal care products were rising between 2010 and 2016, the year of the Brexit vote, by 3.1% and 5.3% respectively. However, exports to the EU have been in decline since then.“

Source: The Guardian

6. Wealth of support available for exporters from Northern Ireland: Lord Offord

“At a special business roadshow in Lisburn, Exports Minister Lord Offord praised the innovative spirit in NI he said was worth celebrating.

Speaking afterwards, the minister said: “Northern Ireland businesses have some fantastic exporting success stories, and it was a pleasure to meet with so many of them at the Made in the UK Roadshow here in Lisburn and learn about their journeys.”

Lord Offord said: “Northern Ireland exported over £13 billion worth of goods and services in 2021 and businesses are doing fantastic work creating innovative products made in the UK sold to the world, all while supporting jobs and economic growth.”

Source: News Letter

7. UK car production soars – but industry warns of looming Brexit rules ‘threat’

“UK carmakers have recorded their best September since 2020 – but warned growth is “under threat” from new Brexit export rules due to come into force within months.

SMMT chief executive Mike Hawes hailed the figures as “particularly strong” and “good news for the UK, given the thousands of jobs and billions of pounds of investment that depend on the sector”.

However, it comes only months before new “rules of origin” Brexit trade regulations are due to come into force in January 2024. SMMT warned the tariff could raise the average cost of UK-built battery electric vehicles by £3,600 in Europe, while EU-made models sold in the UK could experience an average price hike of £3,400.”

Source: Sky News

8. Freeports offer opportunities but SMEs need help to benefit, IOE&IT’s Shakespeare tells committee

The UK’s freeports programme is capable of yielding opportunities to businesses but more work is needed to help smaller companies take advantage of these benefits, a leading trade expert told a parliamentary committee yesterday (24 October).

While acknowledging the potential benefits of freeports, Kevin Shakespeare said that there has been “less engagement from the SME community” and that more must be done to support them.

There are currently eight English freeports, with two sites planned in both Wales and Scotland.

Freeports offer a range of economic incentives, such as tariff exemptions and reduced planning permissions, to encourage trade, investment and job creation in formerly industrialised areas.“

Source: Danielle Keen at The Institute of Export & International Trade

9. Food fraud: Standards scandals and the truth about what’s really in our honey

“The UK’s recent change to the legal definition of wine – in which a drink can remain defined as ‘wine’ even when containing 0% alcohol – raises important questions about the nature of food standards.

How are decisions made about what constitutes a certain good and what happens when suppliers cross that line?

The IOE&IT Daily Update spoke to Institute of Export & International Trade (IOE&IT) trade and customs consultant Laura Williams to find out about food standards, fraud and the actions being taken to stop food-related crime.“

Source: Danielle Keen at The Institute of Export & International Trade

10. Union flag, British red meat and dairy shine at Anuga

“This year, 13 red meat and 14 dairy exporters joined us on our Quality Meat from Britain Pavilion in the Meat Hall at the event in Cologne, Germany. The British Dairy Pavilion represented a collaboration between AHDB and the UK Government.

With more than 7,900 exhibitors and in excess of 169,600 visitors, the AHDB stands were extremely busy, with continuous high-level buyer activity throughout the five-day event.

Visitors sampled high-quality British red meat and dairy products in recipes such as beef fillet steak with peeled vegetables, Frankfurt herbs and mustard seeds; pink-roasted rack of lamb with dried fruits, bulgur, shitake mushrooms and coriander; and pulled pork served in brioche bun with coleslaw and barbecue sauce.“

Source: AHDB

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Categories:Export News