10 UK Export News You Might’ve Missed – Week 48
In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 48 of 2023 — November 27th-December 3rd, 2023.
Key News:
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UK businesses to build over 350km of new critical drainage system in Iraq
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WTO Members consider seven regional trade agreements, discuss improvements to Committee’s work
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Huge increase in UK defence exports, hitting £11.2bn in 2022
General Export News:
1. Initial findings recommend keeping duties on cast iron articles
“The Trade Remedies Authority has today (30 November) published its Statement of Essential Facts stating its initial findings after reviewing anti-dumping measures of cast iron articles from China.
The TRA report recommends maintaining anti-dumping duties transitioned from the EU and extending the measures for the next five years to protect the UK cast iron articles industry from being injured by dumped imports from China.”
Source: GOV.uk
2. UK businesses to build over 350km of new critical drainage system in Iraq
“The UK government has secured financing for the construction of a drainage network over 350km long which will bring clean water to tens of thousands of residents in the Al-Hillah district of Iraq, to the south of Baghdad.
UK Export Finance – the government’s export credit agency – has ensured that the government of Iraq can access £226 million in financing to fund the project, which will be transformational for a district currently unable to treat wastewater.
Upon completion, the network is expected to process up to 20 million cubic metres of water each year, bringing clean water to over 25,000 households and improved sanitation to hundreds of thousands.
The transaction is expected to support over £100 million in UK export contracts, which make up almost half of the total project value. Turning to the country which gave the world its first modern sewage system, the project will procure equipment and related installation services from the UK“
Source: GOV.uk
3. UKEF CEO response to the Autumn Statement 2023
“In the Autumn Statement 2023, the Chancellor announced plans to offer additional support for SMEs to access global markets through UK Export Finance (UKEF). UKEF CEO Tim Reid shares his response.“
Source: GOV.uk
4. Members consider seven regional trade agreements, discuss improvements to Committee’s work
“Under the Transparency Mechanism for RTAs, the Committee considered five RTAs between the UK and its trading partners aimed at maintaining the continuity of previous trade arrangements before the UK’s withdrawal from the European Union.
The Association Agreement between the United Kingdom and Central America: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama (Goods and Services) entered into force on 1 January 2021. The Agreement maintains most commitments under the Association Agreement between the European Union and its Member States and Central America. The UK liberalized all but 4.9% of its tariffs upon entry into force of the Agreement while 4%-5.2% of Central American tariffs will remain dutiable for imports from the UK by 2027.
The UK, on behalf of all the parties, said the Agreement reproduces as closely as possible the EU-Central America Agreement. The parties are working together to ensure that all institutional mechanisms reflect the joint desire to support business growth and development and to ensure citizens benefit from increased free and fair trade, the UK said.“
Source: WTO
5. TotalEnergies joins huge Morocco-UK renewables export project
“French energy major TotalEnergies SE (EPA:TTE) has joined the Xlinks subsea cable project that will export 3.6 GW of renewable power from Morocco to the UK by acquiring a minority stake in the vehicle behind the scheme.
The complex is expected to bring green power to seven million British homes. It is slated for commissioning in 2027.“
Source: Renewables Now
6. Companies embracing paperless trade could see boost to profits and agility, say trade experts
“Companies embracing paperless trade stand to gain a multitude of benefits, according to a new report on the tangible benefits of electronic trade documents.
These benefits include a 15% increase in profits, 80% reduction in waiting times at the border and the ability to complete complex trade transactions in “minutes not months”
The report, named ‘Seizing the moment: Unleashing the potential of trade digitalisation’, was launched jointly by the International Chamber of Commerce UK (ICC) and the Centre for Digital Trade and Innovation (C4DTI). It sets out the tangible benefits of the Electronic Trade Documents Act for businesses (ETDA).“
Source: The Institute of Export & International Trade
7. Scottish farmed salmon accounts for nearly 30 percent of UK fish sales
“With Scottish salmon taking centre stage in this year’s St Andrew’s Day celebrations – including receptions in Holyrood and in the British Embassy in Paris – trade body Salmon Scotland reports that recent data shows salmon sales reached £1.25 (€1.45) billion in the 12 months up to September, making up nearly 30 percent of all fish bought in the UK.
The value of Scottish salmon exports has jumped by 7 percent in a year as international demand also continues to grow, with France remaining the top destination.
On a rolling annual basis up to the end of September, exports of the fish stood at £611 (€706.8) million – confirming the nutritious fish’s place as the UK’s top food export.“
Source: The Fish Site
8. Huge increase in UK defence exports, hitting £11.2bn in 2022
“The UK’s defence exports have increased significantly over the last complete year, rising from £6.6bn ($8.3bn) in 2021 to £11.2bn in 2022, an approximate 70% increase in nominal prices, according to information released by the country’s Department for Business and Trade.
According to the analysis carried out by the UKDSE, the Middle East was on average the largest market for UK defence export orders over the five years from 2018 to 2022, accounting for an average of 43% of the total value of orders across that period.
However, five-year moving average exports in the Middle East have shown a decline since 2019, reflecting a drop in in-year orders following large contracts in 2018 of Typhoon fighters and Brimstone missiles to Qatar, the report stated.“
Source: Army Technology
9. EfW firm says public wants export ban
“A poll carried out for it showed 72% of respondents thought the UK should deal with waste rather than shipping it overseas and 53% wanted an outright ban on waste exports, with only 11% disagreeing.
The poll also found 70% of the public thought the Government should aim to divert all waste from landfill, while 75% wanted the maximum amount of energy recovered from residual waste.
Enfinium said the UK exported more than 2 million tonnes a year of waste and 12 million tonnes went to landfill, which it said wasted material that could otherwise be used to create energy. It noted EfW generated lower emissions per tonne of waste compared with landfill.“
Source: MRW
10. Post-Brexit policies massively disadvantage UK cheese exporters
“Brexit was billed as good news for the industry. Imports of European goods would face higher tariffs and the “buy British” trend would grow, we were told. However, in recent months, we are seeing the total opposite. Due to the combination of ill-thought-out tariff deals, our British artisan cheese industry is on a cliff-edge due to a double whammy of potential changes to import legislation and new food taxes.
For instance, this month UK cheese exporters warned failing to agree a permanent new deal with Canada – or extend the so-called “cheese letters” that set up temporary arrangements – would lead to tariff-free export quotas being slashed for UK cheese exporters to the country.
This will affect the smaller UK cheese producers in particular. Big business protectionism would give around 85% of the import quota to big dairy companies in Canada. This export market is worth over £1.5m of sales to us, and comes at a time when we’re all trying to preserve and grow the artisanal stilton market.“
Source: The Grocer
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