Made in the UK, Sold to the World: New strategy to boost exports to £1 trillion.
The new export strategy kickstarts ‘Race to a Trillion’ as DIT publishes 12-point plan to help UK businesses hit £1 trillion in exports.
The Government today launches an ambitious new ‘Made in the UK, Sold to the World’ plan to help businesses across the UK double exports and sell their world-class products around the globe.
The 12-point export strategy – published today (Wednesday 17 November) by the Department for International Trade – will give businesses the tools they need to become a nation of exporters and reap the benefits of our free trade deals.
The UK exported £600 billion in goods and services last year, but only around one in ten GB businesses currently export – with the number of goods exporters falling behind continental competitors like Germany, Denmark and the Netherlands .
Unlocking the UK’s exporting potential will help level up the country and boost the UK’s economy, with government commissioned research estimating that exports supported 6.5 million jobs across the UK in 2016, and showing that exporters pay higher wages. Separate analysis shows that goods exporting businesses are on average 21 percent more productive.
International Trade Secretary Anne-Marie Trevelyan is calling on businesses to ‘Race to a Trillion’ by seizing huge untapped opportunities on offer in the world’s fast-growing markets.
This is a defining moment in our national trading story. As we agree ambitious new trade deals around the world, it is more vital than ever that businesses across the UK take advantage of these opportunities and unleash their full exporting potential.
Our export strategy will help more businesses start exporting and help those who already export to sell more products to more countries. Reaching £1 trillion worth of exports by the end of this decade means more jobs, more opportunities and higher wages helping the UK to level up and build back better.
Secretary of State for International Trade, Anne-Marie Trevelyan MP
The strategy – titled ‘Made in the UK, Sold to the World’ – will see government work hand-in-hand with business to help them to succeed in the global marketplace through a first-class export support framework.
It will help replicate higher levels of exporting seen in the South East of England across all parts of the country to deliver on the Prime Minister’s ambition to level up the UK, and transform the country into a high-wage, high-skill, high-productivity economy.
The 12-point strategy includes:
- Launching the ‘Made in the UK, Sold to the World’ campaign, championing the UK’s priority sectors through an innovative, localised marketing campaign that will promote the best of British goods and services in our towns and cities.
- The Export Support Service provides a single point of contact for exporters to Europe. Since launching in October the new export hotline and online service has helped hundreds of businesses to get exporting .
- UK Export Academy expansion to offer SMEs in all parts of the UK, including Scotland, Wales and Northern Ireland the chance to learn how to navigate the technicalities of exporting and how to find new opportunities in overseas markets.
- A new UK Tradeshow Programme will be bigger and better targeted to give UK companies, especially SMEs, a leg-up to exhibit their first-class products at the world’s biggest tradeshows.
- UK Export Finance – our world-leading export credit agency – will expand its offer with new products and a wider delivery network that will make it easier for UK exporters to secure business from overseas buyers.
- Export Champions, ensuring businesses can build and learn from exporting successes through business-to-business networking and peer-to-peer learning
- Internationalisation Fund, open to SMEs in England, will aim to grow international sales, and has facilitated £4 million of support to SMEs attending Trade Fairs.
Source: Gov.uk
Published: 17th November 2021