Boosting UK Trade and Exports Post-Brexit | IPT
Chair: Bill Esterson MP, Shadow Minister for International Trade
Speaker: Marco Forgione, Director-General, Institute of Exports & International Trade
Speaker: John Carroll, Head of International and Transactional Banking, Santander
Virtual Event

Date:

Monday 17 May 2021

Venue:

This is an online event

Start Time:

16:30

End Time:

17:30

At the end of 2020, the United Kingdom left the European Union after agreeing to a zero-tariff, zero quota trade deal. Currently, 40% of UK trade is done with countries outside the European Union. Exports were at an all-time high in February 2020, with £689bn worth of goods and services exporters across the globe, an increase of 5% on 2018. Almost half of this went to the European Union. The UK’s services export share is around 12% of GDP. Since 2007, UK exports have broadly kept pace with world trade volumes and China is now the UK’s third largest export market behind the USA and Germany. However, in the six months to October 2020, Italy became a larger exporter of goods to the US than Britain for the first time since records began in 1980. The Government has said it will offer loan guarantees to promote exports, with lenders receiving a state guarantee for up to 80% of money lent up to £25mn per business. Firms that exported at least 5% of their production in each of the last three year, or 20% in any single year, will be eligible for the loan guarantees. With the UK looking to expand trading relationships and promote exports, how can businesses be supported?

This event will:

  • Discuss support for export businesses to grow share post-COVID
  • Consider how exports to Asia, African and the Middle East can be boosted
  • Explore expertise and innovation crucial to increasing exports, including how these skills can be shared across the UK.