10 UK Export News You Might’ve Missed – Week 30
(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 30 of 2023 — July 24-30, 2023.
But first, we’re thrilled to announce that we’ve been invited to participate in the Going Global Live Business Show on 22nd-23rd of November 2023 in ExCel London!
We’ll be exhibiting together with many other organizations that support international trade in the UK and worldwide, including The Institute of Export & International Trade. If you’re attending the Business Show, don’t forget to stop by stand G12 and say hi!
Check out our exhibitor profile and your free tickets here!
Key News:
- UK backs £680m loan guarantee for new high-speed electric railway in Turkey.
- Welsh food and drink exports increase by £157m to set new record.
- Global demand for UK construction exports and expertise could generate £11.5bn.
General Export News
1. Joint outcome statement: UK-India round eleven FTA negotiations
“On 18 July 2023, the United Kingdom and the Republic of India concluded the eleventh round of talks for a UK-India Free Trade Agreement (FTA).
Technical discussions were held across 9 policy areas over 42 separate sessions. They included detailed draft treaty text discussions in these policy areas.
The twelfth round of negotiations is due to take place in the coming months.”
Source: GOV.uk
2. UK to host 26th annual Taiwan talks to continue to strengthen trade relationship
“Minister for International Trade Nigel Huddleston will co-host the 26th annual Trade Talks later this year with Deputy Minister Chern-Chyi Chen. They held an introductory call to discuss it today.
The UK and Taiwan have a long-standing trade relationship with annual ministerial trade talks held since 1991.
Like the UK, Taiwan is a champion of free and fair trade underpinned by a rules-based global trading system. The UK is already a major partner in Taiwan’s green transition, with more than 40 British companies already having set up offices in Taiwan.”
Source: GOV.uk
3. UK backs £680m loan guarantee for new high-speed electric railway in Turkey
“UK Export Finance (UKEF), the UK government’s export credit agency, has underwritten €781m of financing – equivalent to £680m – to support construction of a 286km high-speed electric railway in southern Turkey.
The deal is expected to create new, multimillion-pound export contract opportunities for the UK’s infrastructure, engineering and project management sectors, supporting the Prime Minister’s priority of growing the UK economy.
This signals key future opportunities for UK exporters, with Rönesans Holding – one of Europe’s ten largest construction companies – intending to use the high-speed rail project to build its wider relationships with the UK supply chain.”
Source: GOV.uk
4. Boosting trade with Morocco is a big Brexit benefit
When it comes to post-Brexit trade opportunities, the government is right to prioritise building on the UK’s unique 800-year-old relationship with Morocco.
James Duddridge MP
“School is out, with the UK scoring top marks this term for signing historic trade deals.
Entering into a £12trn trade block, the CPTPP, illustrates what Brexit can provide – the key, as always, remains focusing on the next deal. There is always improvement needed next term.
No opportunity looms as large as with Morocco. It wants a closer relationship, a relationship which would provide UK PLC with tremendous upsides.”
Source: PoliticsHome
5. Global demand for UK construction exports and expertise could generate £11.5bn
“British construction, consultancy and wider professional services have played a critical role in some of the largest, most successful and transformational major projects and programmes in the UK and globally. And despite only representing 0.4% of UK exports, construction services have seen a 53% increase in value in the last three years – amounting to just over £4.6bn – and representing a positive trend for UK Plc.
Over the next decade the demand for major construction programme delivery will continue to grow as a result of rapid urbanisation in emerging economies and the need to transition to more sustainable infrastructure to meet ambitious net-zero commitments in advanced economies. An estimated $3.7tn per year will be spent on major global infrastructure programmes up to 2030.
Post-covid, there has been a greater emphasis on infrastructure projects not just delivering physical buildings, but other long-term legacy outcomes. British companies have also been at the forefront of developing innovative tools and approaches to better deliver projects and programmes and escape the so-called ‘iron law of megaprojects’ that 70-80% come in late or over budget.
But while the UK’s construction service industry has grown considerably, more will need to be done to see the same growth across the contracting and products industry to ensure the UK is primed to take this opportunity. Failing to capitalise could cost the UK an estimated £2.35bn in export revenue – which is too significant to ignore.”
Source: Mace
Food Export News
6. Who Led Food Trade During the Height of the Pandemic?
“An analysis of the world’s most imported and exported food groups identified the US as the world’s food trading leader during the first year of the pandemic, with the UK ranking eighth.”
Source: Food Manufacture
7. Summer 2023 outlooks for global beef and lamb markets
“Global outlooks for beef and lamb markets for the remainder of 2023 suggest that production is set to increase for both meats, as key players such as Brazil, Argentina and Australia grow their output. Closer to home, the EU short-term outlook shows a decline in beef and sheep production for the remainder of the year, following contraction in breeding stock numbers.”
Source: AHDB
8. Could new Brexit border controls spell the death of UK delis?
“The much-delayed new Border Target Operating Model (TOM) aims to end Brexit uncertainty, according to the government, by setting out a ‘simplified’ plan for goods entering the UK. But for those looking to bring in small shipments of artisanal goods such as French camembert, Spanish manchego, or Italian parma ham, it’s looking like another costly and time-consuming bureaucratic minefield. And one senior customs source told The Grocer at an industry event earlier this month, “this could be the death of the deli”.
So how will the new Border Target Operating Model work? As with most things Brexit, it remains unclear how things will pan out at the border. What we know is that, as things stand, 31 October will bring the rollout of controls effectively classing the EU as ‘overseas’ territory and will treat goods coming in accordingly.”
Source: The Grocer
9. Welsh food and drink exports increase by £157m to set new record
“Welsh food and drink exports were worth £797 million in 2022, the highest recorded yearly value, Rural Affairs Minister Lesley Griffiths has announced.
The Minister revealed at this year’s Royal Welsh Show that the industry’s exports increased by £157m between 2021 and 2022, representing a 24.5 per cent rise.This is a larger percentage increase than the UK as a whole, which grew by 21.6 per cent.
The highest value export categories for Welsh food and drink in 2022 were meat and meat products at £265m, a 42 per cent increase from 2021, and cereal and cereal preparations which rose 16 per cent to £160m.”
Source: Cambrian News
10. Prospects for UK agri-food exports: Sub-Saharan Africa
“The UK has market access for red meat in many countries in sub-Saharan Africa and is already exporting products to various markets in the region. The UK is the top supplier of sheep meat to Ghana, and – although volumes imported are lower than imports of beef and pork – there is potential to build on the amount of lamb exported to the country.
Pork is the main meat the UK exports to Côte d’Ivoire (Ivory Coast), with an annual average of over 1,000 tonnes shipped in recent years. EU countries (such as France and Spain), as well as Brazil and Canada, are leading suppliers, but the UK is a top ten origin for pork imports, and there is space to grow market share. Improvements can also be made for beef and lamb exports to Côte d’Ivoire.
Offal is a key export product to Ghana, Côte d’Ivoire and South Africa as an affordable protein source. The UK, USA and Australia are the top three origins for South African offal imports. The main pork offal products the UK exports to South Africa are feet, hearts and bellies, while the main beef offal products are livers, hearts, kidneys and feet.”
Source: AHDB
Want to get more international trade content straight to your inbox?
