The United Kingdom has proclaimed plans to boost the Kingdom’s annual exports to hit £1 trillion ($1.3 trillion) by 2030 as a part of British Prime Minister Boris Johnson’s plan to overhaul the U.K.’s export strategy. The “Made in the U.K., Sold to The World” plan is envisioned to provide a helping hand to firms seizing new opportunities in international markets.
In 2020, Britain exported nearly 600 Bn pounds in goods and services. But currently, only one in ten UK companies trades overseas, with the number of goods exporters lingering continental contestants like Denmark, Germany, and the Netherlands. State Secretary for International Trade and President of the Board of Trade, Anne-Marie Belinda Trevelyan, said it was important for the firms to unlock their full exporting potential.
The United Kingdom businesses are being encouraged to unleash their exporting potential and sell to the whole world as Trevelyan launched the International Trade Week on Nov. 15. Throughout the week, the U.K.’s Department for International Trade (DIT) would host more than a hundred workshops and events countrywide to support and encourage companies to explore their expansion into global markets.
BBC headline: “UK announces plan to boost overseas trade.”
Due to Brexit, my company has lost many overseas customers. Too costly & too much hassle for them.
So we’ve half the sales but 20x the paperwork, increased costs & delays.
They screwed us.
It’s all lies.#BrexitReality
— Pete 😷 #COVIDisAirborne WHN (@PeteUK7) November 17, 2021
Unlocking Great Britain’s exporting potential would support level up the nation and lift the British economy, with administration-led research assessing that currently exports support 6.5M jobs all over the United Kingdom, and presenting that the exporters pay higher remunerations and are about 21% more lucrative.
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Moreover, from London to Edinburgh, Scotland, and Cardiff to Belfast, proceedings would link industries of all sizes and sectors with expert trade consultants, Ministers, and Parliamentarians.
As a part of the twelve-point plan, government agencies like UK Export Finance (UKEF) would offer new facilities to assist British exporters in securing business. There would also be a new trade show program to give British firms help demonstrate their goods at global events.
Almost 13 businesses from the GB have been carefully chosen to front the ‘Made in the U.K., Sold in The World’ drive and visit one of them, Crep Protect, to rejoice the launch.