10 UK Export News You Might’ve Missed – Week 26

(Also published on LinkedIn)

In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 26 of 2023 — June 26-July 2, 2023.

General Export Updates

1. UKEF backs British exporters with £6.5 billion

“Hundreds of UK businesses ranging from suppliers of solar batteries to life-saving medical equipment have benefited from £6.5 billion in UK Export Finance (UKEF) support over the last year to break into international markets and grow – supporting up to 55,000 UK jobs and contributing billions of pounds to the economy.

Overall, UKEF is now supporting more SMEs than at any time in the last 30 years. Eighty-four per cent of firms directly supported with a UKEF product were small and medium-sized businesses, while 82 per cent are located outside of London.”

Source: GOV.uk

2. New law imposes fresh sanctions on Russia accessing UK legal expertise

“Wealthy individuals and big businesses linked to the Russian regime will be further restricted from accessing UK legal expertise to carry out deals that could bolster the nation’s war chest – further ratcheting up pressure on President Putin’s government.

A new law introduced today (29 June) by the government will prevent UK lawyers from advising Russian companies in certain business deals – thwarting the nation from benefitting economically from the UK’s world-leading legal expertise. This could include trade deals between global corporations, or international money lending.

The new rules will extend existing regulations on Russia using UK legal professionals to facilitate certain commercial activity which benefits the country – and may block legal professionals from advising international companies on lending decisions to Russian businesses, for example.”

Source: GOV.uk

3. Government introduces law banning international shark fin trade

“The Shark Fins Act passed into law today (29 June), marking a major step in cementing the UK as a global leader in shark conservation.

The Act will ban the import and export of detached shark fins, including all products containing shark fins such as tinned shark fin soup.

The Act follows our Action Plan for Animal Welfare pledge, and our call for evidence in which most respondents emphasised their strong opposition to shark finning.”

Source: GOV.uk

4. Private sector backed initiative set to charge UK exports with one stop shop

“A new private sector-backed initiative is set to turbocharge the UK’s SMEs to increase their footprint and exporting power.

Over the next 12 months, the Enterprise Nation Go Global scheme aims to offer targeted guidance to 100,000 SMEs, supported by leading international banking firm Santander UK, accountancy firm Deloitte and the content collaboration platform Dropbox.

The programme aims to unlock the global ambition of SMEs and smaller businesses with high quality resources, e-learning modules, trade events, mentoring and advice tailored to support growing businesses.

The launch follows research that found that if UK exports had rebounded as strongly as Germany’s following the pandemic, it would be exporting $111bn more than is it now.”

Source: Wales Online

5. The future of customs declarations

“This call for evidence is seeking views on potential simplifications to customs declarations and the way that businesses use technology to facilitate the completion of customs declarations and other customs processes.

This call for evidence will be of interest to traders of all sizes making either import or export movements, including both traders who complete declarations themselves and those who use customs intermediaries and so do not interact with HMRC customs systems directly. It will also be of interest to customs intermediaries and customs software providers, as well as businesses who do not currently engage in international trade but may if customs processes could be simplified or better facilitated by technology.

HMRC will be holding webinars on 5 July 2023 and 13 July 2023 regarding this consultation where policy officials will explain the consultation questions and how to respond. If you would like to attend one of these webinars, please contact HMRC by emailing externalstakeholders.customs@hmrc.gov.uk by 3 July and 11 July respectively.”

Source: HMRC

6. Minister tells tech industry that trade digitalisation could save businesses £225m a year

“Cabinet Office minister Baroness Neville-Rolfe yesterday (28 June) told a technology summit that ongoing pilots trialling the digitalisation of cross-border trade could save businesses up to £225m a year in reduced administration, if scaled up.

Speaking at the ‘Border Strategy 2025: Opportunities for Tech Companies & Consortia’ event hosted by techUK, Neville-Rolfe referred to the ‘Ecosystem of Trust’ pilots that have used new technologies such as smart seals, GPS trackers and temperature trackers to create real-time data about goods movements.

Government agencies can use this information to better monitor goods movements and make quicker risk assessments as to whether consignments require checks at the border.”

Source: The Institute of Export & International Trade

Food Export News

7. Australian tariff-free beef begins to flow into UK under new free trade agreement

“The new free trade agreement (FTA) with the United Kingdom is now one month old and some of Australia’s biggest names in beef are starting to cash in.

At a high-end restaurant in the Mayfair district of London this week, Gina Rinehart was celebrating the arrival of tariff-free beef from her cattle enterprises across Australia. ”

Source: ABC News

8. Buyers to explore opportunities for UK red meat at Great Yorkshire Show

“More than 10 buyers from Qatar, Kuwait, Philippines, UAE, Canada, USA, Mexico and other markets will head to the UK from 11 to 16 July to discover more about sustainable beef, lamb and pork production and to examine potential new business opportunities.

It will include visits to farms and processors as well as the chance to meet with farmers at the Great Yorkshire Show on 12 July to find out more about high-quality production of beef, lamb and pork.

The visit follows the launch last week (22 June) of AHDB’s new export strategy, Beyond Borders, which is aimed at increasing market access and export sales while encouraging and supporting more businesses to export.

Last year the value of UK red meat exports hit record levels at £1.7 billion, and global meat consumption is expected to grow by 1.8% from 2023 to 2024.”

Source: AHDB

9. Brexit blamed as meat exports slump 42 per cent

“UK meat and fish exports to the EU have slumped by almost half since Brexit, new figures have revealed.

Meat exports to EU countries – as measured by weight – declined by 42 per cent from December 2020 to March 2023, according to Labour Party analysis of Government trade data.

The figures also revealed a 45 per cent slide in the net mass of fish, crustacean and mollusc exported to Europe across the same time frame.”

Source: FarmersGuardian

10. NFU made a recent wide-ranging visit to the US that included Midwest farmlands and Washington DC

“In Washington DC, NFU delegates met with USDA chief economist Dr Seth Meyer, USDA Foreign Agriculture Service Daniel Whitley, American Farm Bureau’s David Salmonsen and representatives of National Association of State Departments of Agriculture.

A British Embassy dinner for the NFU and Meat Importers Council of America was hosted by His Majesty’s Deputy Ambassador James Roscoe to celebrate ‘A Taste of the UK’.

UK Dorset Crown (PGI) lamb took pride of place on a menu celebrating the very best of British produce.

Will Surman, UK agriculture attache to the US, said: “We are proud to have been able to showcase some of our great British food and drink, including smoked salmon, sparkling wine, whiskey, and a range of our incredible cheeses. I was especially pleased to serve our world-class lamb, as we continue to work with AHDB, the NFU and others to grow exports into this recently opened market.””

Source: FarmersGuardian