UK Department for International Trade launches an “ambitious” strategy to boosts exports to 35% of GDP. In a statement released today, it’s noted that the country exported GBP 620B in goods and services last year. That accounted for 30% of UK GDP. The department noted estimated that 400,000 businesses believe they could export by don’t. And from overseas is “only growing”.
The key elements of the strategy are:
- encourage and inspire more businesses to export
- inform businesses by providing information, advice and practical assistance on exporting
- connect UK businesses to overseas buyers, markets and each other
- put finance at the heart of our offer
International Trade Secretary is expected to tell business audience in a speech that “UK has the potential to be a 21st century exporting superpower”. And, “as we leave the EU, we must set our sights high and that is just what this Export Strategy will help us achieve.”
The strategy draws strong support from the business sectors. CBI Diretor-General Carolyn Fairbain said in the statement that “The CBI strongly supports the ambition to make exports 35% of GDP, which will put the UK out in front of many of our international competitors.” And, “firms will work with the strong team in place at the Department for International Trade to ensure these plans are now rigorously carried out.”
Director General of the British Chambers of Commerce Adam Marshall also said that “we welcome the government’s pledge in the new Export Strategy to work hand-in-hand with business to unlock opportunities for UK firms all across the globe.”
Director General of the Institute of Directors Stephen Martin also said “we will be encouraging our members to engage with government to make sure this strategy really takes off and enables British firms to realize their full trading potential.”
