The UK aims to increase its annual exports to 1,000 billion pounds (1,200 billion euros) by the end of the decade. This has The British government announced.
The UK government has announced plans to increase the UK’s annual exports to £1 trillion by the end of the decade, naming the plan: Made in the UK, selling to the world. With this, the state wants to help companies with new opportunities in world markets.
Free Trade Agreements
International Trade Secretary Anne-Marie Trevelyan said very few companies are taking the leap overseas, especially from Scotland, when she launched the government’s first post-Brexit export strategy.
According to Trevelyan, it is “of paramount importance” for companies to “complete their export potential”. Last year, the United Kingdom exported about 600 billion pounds sterling. But only one in ten British companies trade abroad.
The minister urges companies to take advantage of the government’s free trade agreements with countries such as Australia, New Zealand and Japan.
Export to the European Union
As part of the trade scheme, government agencies such as UK Export Finance will introduce new services to help UK exporters do business. There will also be a new UK trade fair program to help British companies showcase their products at international events.
“This is a defining moment in the story of our national trade,” Trevelyan said. “As we negotiate new and ambitious trade deals globally, it is more important than ever that companies across the UK seize these opportunities and realize their full export potential.”
“While there is great potential for commercial activity in the rest of the world, the government needs to provide a workable solution to the challenges of exporting to the EU,” she added. “Only then will UK exports reach their full potential.” (MAh)