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WEEKLY TRADE UPDATES

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The UK and Korea have signed a joint statement for trade continuity that will allow businesses to keep trading freely even after the UK has left the European Union. This will help to strengthen the trading relationship between the UK and Korea further, which in 2018 was worth £14.6 billion. International Trade Secretary Dr Liam […]

Wine producers in the UK are capitalising on overseas demand by exploring exporting potential in new global markets. Overall sales of English wine increased by 31 per cent between 2015 and 2017. The industry is predicted to be producing 40 million bottles a year in 2040 with a retail value of £1 billion. The Department […]

New data from HMRC shows that the UK exports of vaccines reached £3.2 billion in 2018, which is more than any other G7 economy and third highest in the world. Demand from the US has been the main driver with exports there increasing rapidly from £449.3 million in 2013, to £2.2 billion in 2018. Secretary […]

The United Kingdom has signed a UK-Andean Countries Trade Agreement which will help protect a trade flow of £2.1 billion. Between 2008 and 2018, UK exports of goods and services to Colombia, Peru and Ecuador grew by 58 per cent and this agreement will allow businesses to continue to trade freely without any additional barriers […]

New statistics from the Office of National Statistics (ONS) show that UK firms have sold more overseas in the 2018/19 financial year than at any time since records began. Despite the uncertain global economic outlook, UK exports have been increasing for the past 36 consecutive months, an indication of the unparalleled spirit and resilience of […]

Foreign Secretary Jeremy Hunt has welcomed British funding for business in Kenya. This includes £52 million for a solar power plant which will create up to 250 direct new jobs and a further 5,600 jobs in the wider economy thanks to the availability of power. Jeremy Hunt said: “I have seen for myself the incredible […]

At an event in central London last week, Secretary of State for International Trade, Dr Liam Fox, named Qatar the UK’s ‘natural partner’ for trade. He has highlighted the increasing cooperation between the two countries and the importance of Qatari investment in the UK and how it has helped drive prosperity at home and abroad. […]

The International Trade Secretary, Dr Liam Fox, met with the Iraqi Prime Minister during his visit to Baghdad to discuss our bilateral trading relationship. Dr Fox announced a £1 billion increase in support available to British businesses operating in Iraq. This will provide more jobs and help to promote stability in the region. This support […]

Last week Minister of State for Trade and Export Promotion, Baroness Fairhead, met key Brazilian and Argentinian businesses and government ministers to discuss the UK’s commitment to trade and investment with the region. With trade already at healthy levels, there are significant opportunites for British businesses to build on strong trading ties. Brazil is the […]

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