Government launches new export strategy to boost exports to £1 trillion

The Department for International Trade (DIT) has published a new "Made in the UK: Sold to the World" strategy to help UK businesses hit £1 trillion in exports.

The export strategy will see the government work hand-in-hand with local businesses to help them to succeed in the global marketplace through a first-class export support framework and by "seizing huge untapped opportunities on offer in the world’s fast-growing markets".

The 12-point strategy also aims to 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.

These include the launch of a new UK Tradeshow Programme (UKTP) until April 2023, which will be better tailored to help businesses, particularly those outside London and the South East, to attend and promote their products around the world, said the government in a statement.

The UKTP will allow the government to work with businesses to assess different approaches to encouraging UK-based SMEs to participate at overseas trade shows through training and offering grants up to 4,000 pounds towards exhibition costs.

The strategy also includes the Export Support Service, a single point of contact for exporters to Europe and the the expansion of the UK Export Academy to include Scotland, Wales and Northern Ireland. Launched in October, the academy holds masterclasses, roundtables and networking events to help businesses overcome common challenges that first-time exporters face.

The launch of the "Made in the UK, Sold to the World" campaign champions its priority sectors through a localised marketing campaign that will promote the best of British goods and services.

In addition, the UK Export Finance, the 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.

Anne-Marie Trevelyan MP, Secretary of State for International Trade, said: "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"

This week, DIT is running the inaugural International Trade Week, which features over 100 events and workshops across the country hosted by expert trade advisers aimed to help businesses to take advantage of the export support available to them.

Mike Freer MP, Minister for Exports, added: "We know businesses are at different points on their exporting journey. Some are already successful exporters but want to sell more products or reach new markets. Others are yet to take the leap and export for the first time.

"Whatever your story, our tailored support, expertise and international network is here and ready to help you maximise your ambitions and sell to the world"