10 UK Export News You Might’ve Missed – Week 47
In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 47 of 2023 — November 20th-26th, 2023.
Key News:
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Ground-breaking UK Export Finance deal secures huge investment in North-East England
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UK food, drinks bodies doubtful over plan for January EU border controls
General Export News:
1. UK Export Finance unveils extra support for SME exporters
“UK Export Finance (UKEF) announces today at its annual conference that it is introducing more flexible, fast-track financing for small businesses – making it easier than ever for UK firms to sell in international markets.
UKEF has announced its first ever ‘Invest-to-Export’ loan guarantee, securing a major overseas investment in North-East England. Helping South Korean manufacturer SeAH Steel Holding to build a wind technology factory in Teesside, this UKEF-backed financing will support more than 1,500 jobs in the UK supply chain as the factory creates major opportunities for suppliers small and large. This first use of the ‘invest-to-export’ EDG product heralds the availability of more funding to support businesses investing in new UK export opportunities.
Around 7,500 SMEs from the UK export to India, one of the UK’s closest trading partners.[1] A new agreement between UKEF and HSBC India paves the way towards a financing programme to support UK exporters hoping to enter this market.”
Source: GOV.uk
2. Ground-breaking UK Export Finance deal secures huge investment in North-East England
“UKEF and K-Sure have secured support worth £367 million for South Korean manufacturer SeAH Steel Holding’s construction of a wind tech factory near Redcar, in the Tees Valley.
The financing will secure inward investment which will create 750 jobs in Teesside and ensures construction of the world’s largest wind monopile factory in Redcar.
Issuing its first ever ‘Invest-to-Export’ loan guarantee to secure overseas investment in British industry, UKEF together with K-Sure has ensured that SeAH Wind UK can fund the construction project – worth almost £500 million – with £367 million in financing from Standard Chartered Bank and HSBC UK. The facility was also eligible for longer and more flexible repayment terms as a ‘Clean-Growth’ facility.“
Source: GOV.uk
3. Industry leaders welcome landmark plan for UK Advanced Manufacturing
“Industry leaders from across UK advanced manufacturing have welcomed the Government’s landmark Advanced Manufacturing Plan (AMP) backed by billions to boost Britain’s manufacturing sector, announced by Business and Trade Secretary Kemi Badenoch today (26 November).
The package of measures will build on our existing strengths in manufacturing and offer certainty to business by building on our successful programmes and committing more than £4.5 billion to 2030 in targeted funding to back the long-term future of the UK’s world leading industries as well as supporting SMEs through extending and expanding our Made Smarter digital adoption programme through this decade.
The Plan outlines key measures to improve the business environment and attract investment, including faster grid connections, full expensing and more apprenticeships.“
Source: GOV.uk
4. UK’s agri-food and drink attachés backing British food and drink
“The eleven attachés based in British embassies and consulates around the world – in Canada, Mexico, USA, Brazil, Kenya, The Gulf, India, Japan, China, Thailand and Vietnam – work to remove trade barriers, identify emerging international markets and tap into growing demand worldwide for quality goods from UK farmers and producers.
In 2023 alone, the attachés have supported the government in resolving 42 agri-food barriers worth an estimated £340 million per year, with 141 new market access agreements delivered since 2020. Their recent successes include securing market access for poultry to Tunisia, sheep embryos to the USA, pork to Chile, trout ova to China and pet food to South Korea.
This week they will tour the UK, from meeting with producers of whisky and seafood in Scotland to visiting egg farms and meat processors in Shropshire. The attachés will gain first-hand experience of food production and deepen their understanding of the farmers and producers whose interests they represent overseas.“
Source: GOV.uk
5. UK and Türkiye to boost stability, security and prosperity
“Defence Secretary, Grant Shapps, today signed a Statement of Intent on defence co-operation, with his Turkish counterpart, Minister of National Defense, Yaşar Güler. This will provide the framework for closer working to deliver additional activities that will benefit the security and prosperity of both countries and, in so doing, enhancing national, regional and international security.
Following the signing, activity will see closer collaboration between both countries’ defence industries, the identification of possible joint training exercises in the Mediterranean, and the exploration of security support around North Africa and the Middle East.
As well as discussing the need for de-escalation in the Middle East, the Defence Secretary thanked his counterpart for utilising Türkiye’s influence as the gatekeeper to the Black Sea to enable the export of millions of tons of Ukrainian grain to nations who need it most.“
Source: GOV.uk
6. The Week in Trade: Autumn Statement, troubles at sea and JFK, 60 years on
“In IOE&IT news, the first manufacturing special interest group was launched on Tuesday (21 November), bringing together expert insight from Professor Manoj Dora, director of the Centre for Intelligent Supply Chains, and IOE&IT’s UK manufacturing lead, Paul Brooks, alongside industry representatives.
How’s stat? 14.6% – the decrease in trade between South Korea and the UK between 2022 and 2023, something that will hopefully be reversed by the new trade deal in the works this week, as president Yoon Suk-Yeol visits London.
The week in customs: Fresh guidance has been released by the Export Control Joint Unit (ECJU) in response to an increased volume of queries to its End User Advisory Service. The service allows exporters to seek advice on whether their goods may need a licence due to the potential for military end use.
If you’re concerned your goods could be used to create a weapon of mass destruction, more information is available here.“
Source: Danielle Keen at The Institute of Export & International Trade
7. Northern Ireland not included in live animal export ban announced by King Charles
“A ban on live animal exports announced by King Charles will not include NI because DEFRA says “Northern Ireland and the Republic of Ireland operate an all-island agri-food economy”.
We asked Northern Ireland’s Department for Environment and Rural Affairs as well as the UK’s Department for Environment, Food & Rural Affairs if it would apply in Northern Ireland.
We were told: “The ban will not apply in Northern Ireland. Northern Ireland and the Republic of Ireland operate an all-island agri-food economy, which requires routine movement between Northern Ireland and the Republic of Ireland for slaughter and fattening.“
Source: Belfast Live
8. UK food, drinks bodies doubtful over plan for January EU border controls
“UK food and drink trade bodies have expressed some doubts as to whether new border controls on EU imports will be implemented on time in January.
BTOM checks will be introduced in phases next year, starting on 31 January with import health certificates on “medium-risk” animal products, plants, plant products, and “high-risk” food and feed of non-animal origin. Other checks are due to come into force in April and October, including physical checks on products and safety and security declarations.
“There’s still some very crucial missing detail, which in terms of believing that it’s going to happen on 31st of January without having the detail about the frequencies of checks from April, makes it less believable that it is real this time round,” Katie Doherty, the CEO of the International Meat Trade Association, said.“
Source: Just Food
9. Welsh food and drink companies set their sights on Singapore
“Welsh food and drink businesses are in Singapore to promote their first-class products.
Organised by the Welsh Government, the Trade Development Visit to Singapore provides a platform to engage with potential partners, distributors, and buyers in the region. The visit aims to highlight Wales’ diverse range of high-quality products, including dairy, bakery and alcohol products.
Importing about 90% of its food and drinks consumption, Singapore is a country with great potential for Welsh food and drinks exports, as the sector sets its sights on further growth.”
Source: Herald.Wales
10. Iron Age gold brooches at risk of leaving UK
“Arts and Heritage Minister Lord Parkinson of Whitley Bay has placed an export bar on a set of Iron Age gold brooches dating back to the first century BC, so that a domestic buyer can be found.
The brooches, valued at £260,000 (plus VAT of £52,000), are at risk of leaving the UK permanently.
They are a rare set of exceptionally preserved jewellery, consisting of two brooches and three chains connected by a pendant, made entirely from gold. The form of the two brooches and the style of gold working on the chain and pendant suggest they were made between 80–20 BC.“
Source: GOV.uk
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