Trade barriers removed to boost business
23 Sep 2020 02:51 PM
DIT has removed 175 barriers to trade across 61 countries worldwide, opening new global markets for British exporters.
In the financial year 2019/2020, the Department for International Trade (DIT) has removed 175 trade barriers to trade across 61 countries worldwide, opening new global markets for British exporters.
British businesses can now export more freely and openly and invest in global markets.
Barriers include unnecessary, legal, regulatory, or administrative requirements. This includes labelling restrictions, out-of-date regulations, and licensing requirements.
Government analysis shows that liberalising market access barriers could boost British exports by £75bn per year.
Minister for International Trade, Ranil Jayawardena yesterday said:
This is fantastic news for British exporters. Fewer trade barriers mean British businesses in every corner of the country have a golden opportunity to realise their full potential.
As we take back control of our trade policy for the first time in almost fifty years, this shows how we can open and expand access to markets around the world, as we back businesses in pursuing their global ambitions.
This is even more crucial in the current economic climate, as more trade means more jobs, helping Britain bounce back.
Breaking down market access barriers makes it easier for British businesses to trade and invest across the world.
As well as negotiating new free trade agreements, DIT is taking a targeted approach to get rid of the trade barriers that are detrimental to British exports and investment. This will help to build closer trading relationships with the largest and fastest growing economies in the world.
Some of the barriers lifted over the past year include:
- Lifting of beef and lamb export ban to Japan which is worth an estimated £127 million over the first five years of access – approximately £75 million for beef and £52 million for lamb.
- Working with the Brazilian Government to make it easier for British fisherman to export products to Brazil, including Salmon.
- Removing the strict labelling rules on products to the UAE has allowed sports nutrition company, Grenade, to export to the UK’s largest export market in the Middle East.
- Overseas sales account for 20% of Grenade’s annual turnover, and online sales are up by 294%, as the company experiences its best year of e-commerce sales to date, having already surpassed 2019 sales. Highlighting the opportunities available to UK businesses in new markets.
Dominic Goudie, Head of International Trade, Food and Drink Federation, yesterday said:
British exports of food and drink are frequently constrained by market access barriers when entering overseas markets and we depend on the support of Government to help resolve these issues.
We welcome the Government’s continued commitment to driving export growth by addressing longstanding issues that restrict trade and encourage businesses to report any trade barriers they experience via the Government’s online service.
The recent success in addressing barriers that have prevented sales of high-quality British beef and lamb in Japan is great news for our producers. This will deliver significant new opportunities to grow British sales in Japan which is the world’s largest net importer of food and drink.
If your business is facing a trade barrier overseas, you can report it to us online at report a trade barrier service. The Department for International Trade now has over 4,000 trade experts based in the UK and across 109 different countries worldwide.