Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 30 June 2026.

UK targets services exports in China trade talks.

• Cooperation with China to increase exports already showing results as iconic British brands like Barclays and Formula E expanding in the Chinese market 
• 200 UK and Chinese businesses to meet and deepen trade ties 
• New ‘Trade Booster’ will increase routes for UK SMEs to export to China 

UK exporters are set for a major boost as the country welcomes a delegation of Chinese business leaders to open new markets and deepen commercial ties.  

Government and business leaders from both nations will come together to strengthen ties and increase growth as UK Trade Secretary Peter Kyle and China’s Minister of Commerce Wang Wentao chair the 15th UK–China Joint Economic and Trade Commission (JETCO) tomorrow (July 2), at Mansion House. 

Building on the success of the Prime Minister’s visit to China earlier this year, the JETCO will support UK firms in high-value sectors from life sciences to professional and business services to increase trade with China.  

The UK will continue to engage with China where there are clear opportunities to co-operate and increase trade and investment ties, whilst continuing to challenge where needed to protect the UK’s national security.  

Despite the UK being the second-largest exporter of services in the world, China ranks as our 9th largest service export destination, showing the massive untapped potential for our world-leading service sector. 

Trade Secretary Peter Kyle said:  

The UK is a services superpower, and I want us to turbocharge our services exports and get more British engineers, architects, and accountants exporting their skills to China. 

We need to be even more ambitious to promote secure and resilient growth for the next generation amidst a backdrop of global uncertainty.

Ahead of the JETCO, around 200 UK and Chinese businesses representing some of the most innovative brands in the world will showcase the strong appetite for deeper commercial links as part of a landmark new Export to China event. Ranging from Brompton Bikes and HSBC to Clifford Chance  on the UK side and big Chinese names JD.com and ICBC.   

New commercial wins between both countries have also been delivered including:  

• Formula E increasing commercial partnerships in China
• Barclays’ Panda Bond issuances mark the first entry by a UK-incorporated bank into China’s domestic bond market. 
• The Chartered Institute of Management Accountants (CIMA) working with the Chinese government to advance the mutual recognition of its qualifications.   
• The Royal College of Surgeons of England (RCS) are partnering with multiple healthcare institutions in China to boost surgical, educational, and training standards. 
• Life Sciences and textile company Intelligent Fabric Technologies establishing operations in Hong Kong and Shanghai to commercialise its patented DreamSkin technology in clothing for sensitive and ageing skin. 

The visit also marks the launch of “Trade Booster”, an initiative led by the China-Britain Business Council (CBBC), HSBC, ICBC and JD.com to help UK businesses expand exports to China by providing practical and targeted support to succeed in the world’s second-largest consumer market. 

There are vast opportunities for UK goods exporters in China and this booster gives SMEs a new mechanism to scale up. 

Meanwhile, the UK-China Professional and Business Services Matchmaking platform has been established to connect major Chinese companies to leading UK services companies to support them in raising capital and investing overseas. 

Stuart Tait, Head of Commercial Banking, HSBC UK said:  

UK exporters are a vital engine of growth, jobs and innovation. Today’s announcement is a welcome step, building on the Prime Minister’s visit to China in January, to help more businesses take their products and services to customers in new markets.  

HSBC UK is pleased therefore to partner with the UK-to-China Export Booster, helping more businesses to trade with the world’s second-largest economy. We are committed to supporting ongoing work to strengthen services trade, which will bring significant opportunities to both economies.

Will Butler-Adams FREng, OBE, CEO of Brompton Bikes said: 

Brompton has been exporting to China for nearly twenty years, beginning with a small team but a big belief that Brompton was relevant to cities across China and that we could help transform cities to become cleaner, healthier and happier.   

We now have over sixty stores selling our bikes across China, and a wonderful community encouraging an active lifestyle. From the first days we have had fun, and have built great friendships, learnt about the rich Chinese culture and enjoyed wonderful regional food! We have worked hard but enjoyed every step of the way.

Sir Sebastian Wood KCMG, Chair of the China-Britain Business Council said: 

The China-Britain Business Council welcomes the visit of Chinese Minister of Commerce Wang Wentao to the United Kingdom for the 2026 Joint Economic and Trade Commission. We have been honoured to support the visit, including the co-organisation of the Export to China: Big Market for All event on July 1, to take place alongside JETCO. 

China, including Hong Kong, is equivalent to the UK’s third largest trading partner, and with total trade reaching £135 billion in 2025, an increase of 5.6% from the previous year.  Across the same period, our services exports reached £21 billion, indicating the strong momentum that exists in our trade relationship. We look forward to building on the visit to demystify the China opportunity and support UK businesses in tapping the vast opportunities available through deepened trade with China.

Officials this week also met for discussions on a Joint Feasibility Study to explore a bilateral Trade in Services Agreement which would open up the Chinese market further to the UK’s world-leading services sector. 

This underlines the Government’s commitment to a pragmatic, business-focused relationship with China which supports jobs, drives growth, and promotes the UK as a leading destination for investment. 

The press release issued by the Department for Business and Trade on 30 June 2026.

UK welcomes CPTPP decision to begin preparatory talks on accession with the Philippines, potentially leading to stronger trade ties.

The United Kingdom welcomes a significant milestone for the Philippines, as Parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreed to begin preparatory discussions on accession with the Philippines. 

The announcement was made at the 10th CPTPP Commission Meeting held virtually on 26 June 2026, where ministers confirmed that preparatory discussions will begin with the Philippines, Indonesia, and the United Arab Emirates (UAE). 

CPTPP is one of the world’s most significant free trade agreements, which the UK joined in 2024. Its membership currently includes 12 economies spanning four continents across Asia-Pacific and beyond, including Japan, Canada, Australia, and the UK. CPTPP currently covers roughly 15% of global GDP. 

The UK has been a consistent supporter of the Philippines’ application to join CPTPP. 

UK Deputy Trade Commissioner for Asia Pacific (Southeast Asia), Rhiannon Harries said the announcement builds on the CPTPP Joint Ministerial Statement from November 2025, which outlined CPTPP interest in the Philippines, Indonesia, and the UAE. 

We’ve strongly supported the Philippines’ application. If the Philippines completes the process and joins the agreement, businesses in our countries would benefit from lower tariffs, simpler trading rules, and stronger supply chains.

She further added:

These preparatory discussions could help lay the groundwork for the launch of a potential future accession process for the Philippines, which could open new opportunities for business, investment, and growth.

For the Philippines, joining CPTPP would mean access to one of the world’s most comprehensive trade networks, potentially lowering tariffs and streamlining trading regulations across diverse markets. The UK sees CPTPP as an important strategic forum for advancing and expanding the reach of high standard, rules-based trade.  

While preparatory discussions do not guarantee accession or the launch of formal negotiations, they are designed to advance engagement and understanding between the Philippines and CPTPP Parties on the agreement’s standards.  

British Ambassador to the Philippines, Sarah Hulton OBE, said: 

We warmly welcome this important milestone. The UK looks forward to working together with CPTPP Parties and the Philippines through this process.

The UK’s enthusiasm for this milestone reflects the strength of its partnership with the Philippines, which is especially meaningful as the two countries celebrate 80 years of diplomatic relations this year. 

The UK and the Philippines have been building deeper economic ties through the inaugural Joint Economic and Trade Committee (JETCO) in 2025, which sets out closer cooperation across infrastructure, renewable energy, agriculture and technology. Philippine exporters also benefit from the UK’s Developing Countries Trading Scheme (DCTS), offering tariff-free access on 92% of products. 

The UK looks forward to continuing to work alongside the Philippines to strengthen trading relationship.  

This announcement comes one year after the UK published its Trade Strategy, which included a focus on deepening and widening CPTPP.

The press release issued by the Department for Business and Trade on 22 June 2026.

The Secretary of State for Business and Trade is pleased to announce that Alastair Long has been appointed His Majesty’s Trade Commissioner (HMTC) for Africa, and will take up the role in August.

Alastair currently serves as His Majesty’s Ambassador to the Kingdom of Bahrain, having been appointed in August 2023.

Alastair brings deep knowledge of Africa, having been Deputy and then Acting Trade Commissioner for Africa between 2019 and 2022.

After joining the Foreign Office in 2002, Alastair’s previous HMG postings overseas include:

• Riyadh, as HM Deputy Trade Commissioner for the Middle East and Director Trade & Investment for Saudi Arabia from 2018 to 2019
• Dubai, as the Regional Director for Trade for the Middle East, Pakistan & Afghanistan and Deputy Consul General from 2016 to 2018
• Muscat, as Deputy Ambassador and HM Consul General from 2013 to 2015

Alastair was educated at Cambridge University (Clare College) and the London Guildhall School of Music and Drama.

Alastair Long said:

I am thrilled to be taking up the position of His Majesty’s Trade Commissioner for Africa and returning to the continent. Africa is the future and I saw, when deputy and then acting Trade Commissioner, what boundless energy and ambition the continent possesses.

The UK is committed to being a partner that supports African and British growth by listening to African priorities and bringing the very best the UK has to offer. I look forward to engaging across the continent, with the UK business community, and with the UK Government team, to realise as many mutual opportunities as possible.

Alastair replaces John Humphrey, who held the role since June 2022.

John Humphrey said:

It has been a privilege to serve as the UK Trade Commissioner for Africa and to work with partners across the continent to strengthen a relationship grounded in delivery, trust and shared economic ambition.

Africa is central to the UK’s global outlook, with significant opportunities for commercially grounded collaboration and sustainable growth. Alastair Long inherits strong UK momentum in Africa, and will bring real depth of trade expertise and the focus and energy needed to deepen partnerships and unlock further opportunities for mutual benefit. I wish him every success as he takes on this important role.

Role of the HM Trade Commissioner (HMTC) for Africa

The HM Trade Commissioner (HMTC) for Africa cooperates closely with the wider diplomatic network and other colleagues to coordinate the government effort overseas to promote UK trade and prosperity.

The Trade Commissioner has full responsibility for all Department for Business and Trade (DBT) work in Africa including:

• growing the overall trade and investment relationship
• improving market access for British companies, including small and medium sized businesses (SMEs)
• developing trade policy

The HMTC works closely with UK-based government colleagues, UK ambassadors and the wider diplomatic network in the region to deliver these goals.

The press release issued by the Department for Business and Trade on 22 June 2026.

The ambitious new agreement will remove barriers to digital trade and enable UK exporters to expand into high-tech markets.

The UK and Malaysia are today launching negotiations on a new digital trade deal that will support growth and back British jobs.  

Digital trade is the exchange of goods, services, and data that is enabled or delivered through digital technologies. In practice, this could include a UK business selling software to an overseas customer through an online platform or providing financial consultancy services remotely across borders. 

DTAs can provide the benefits of digital trade chapters in Free Trade Agreements while remaining agile, flexible and fast to agree and implement.   

Today’s announcement marks the next step in making the UK a global hub for services and digital trade. Digital trade can open new markets for businesses by reducing the costs of delivering goods and services, supporting jobs and productivity.  

The UK is a world leader in digital trade and has a growing trading relationship with Malaysia, worth £6.4 billion in 2025. In 2023, the UK exported £730 million digitally delivered services to Malaysia. The OECD estimates that in 2022, exports to Malaysia supported 31,100 UK jobs.

The DTA aims to make digital trade with Malaysia easier, cheaper and more secure through cross‑border data flows. Other potential benefits could include reducing paperwork and border friction through digital systems, and guaranteeing strong protections for personal data, intellectual property, online consumers and cybersecurity.  

The deal aims to strengthen international digital and tech cooperation by supporting responsible innovation in areas like AI and data. It could also create new partnerships that boost efficient supply chains, infrastructure and global competitiveness.  

Trade Minister Chris Bryant said:  

Launching negotiations with Malaysia marks an important step in strengthening the UK’s position as a global leader in digital trade.  

A UK-Malaysia digital trade agreement has the potential to unlock new opportunities for British businesses, support high‑skilled jobs, and ensure our firms can compete and thrive in fast‑growing, tech‑driven markets.

The press release issued by the Department for Business and Trade on 22 June 2026.

Households and businesses are set to benefit from stronger, more secure supply chains as the UK invests £50 million in critical minerals projects.

• Government backs critical minerals projects across the UK, strengthening Britain’s economic security by diversifying supply.
• £50m investment will turbocharge domestic production of critical minerals to help shore up UK’s supplies of smartphones, fridges and electric vehicle batteries.
• This builds on over £200m government support for critical minerals projects boosting local jobs and opportunity.

Households and businesses are set to benefit from stronger, more secure supply chains as the UK invests £50 million in critical minerals essential for everyday products – from smartphones and fridges to electric vehicles.

The funding will boost domestic production, support high-value jobs and reduce the UK’s reliance on overseas imports, helping to protect the economy from global shocks and supply disruptions.

With global supply chains increasingly concentrated and vulnerable to disruption, the UK has for too long relied heavily on a small number of international suppliers. This investment marks decisive action to strengthen economic resilience, secure vital materials and support long-term growth as part of the Government’s Industrial Strategy.

The Critical Minerals Strategy will back British companies to accelerate the extraction, processing and recycling of critical minerals, while investing in cutting-edge manufacturing capability and attracting private investment into the UK.

Today (22 June), Industry Minister Chris McDonald will visit Teesside’s Wilton Centre to officially launch the Government’s programme to industry and tour Seloxium and DEScycle – two cutting-edge firms advancing critical minerals processing and metal recycling.

Industry Minister Chris McDonald said:

Critical minerals are vital for our national security, and this targeted funding will support companies in ramping up domestic production, helping to create new jobs and opportunities in local communities, whilst building more resilient supply chains.

Through our Critical Minerals Strategy, we’re leveraging Britain’s mineral wealth, attracting new investment and forming dynamic relationships with partners across the world to boost our economic security.

Founder of the Critical Minerals Association Jeff Townsend said:

The UK Government has taken important steps to strengthen the critical minerals sector. As attention turns from policy development to delivery, it is encouraging to see the £50 million grant programme being used to accelerate strategically important UK projects as they reach maturity.

As the home to Seloxium and DEScycle, the Wilton Centre sits in the heart of the North-East of England Process Industry Cluster. Building on its strong industrial heritage, the North East offers expertise in the recycling, processing and recovery of critical minerals alongside growing lithium development.

CCO and Co-Founder of DEScycle and Co-Chair of the Circular Economy Working Group at the UK Critical Minerals Association, Fred White said:

We are nearing construction completion of our world-first demonstration facility, with key equipment installed ahead of commissioning. Our disruptive technology is reshaping how the UK views e-waste, transforming its treatment into a sovereign form of urban mining and Teesside’s world-leading industrial heritage, skilled workforce makes it the ideal location for our facility, deploying infrastructure directly supporting the UK’s Critical Minerals Strategy.

The funding programme will be delivered through three distinct pillars: 

• Magnet Hub: £20 million to establish a world-class national facility to develop, test and scale up rare earth magnet manufacturing, alongside skills and training capabilities.
• Critical Minerals Accelerator: £25 million to support collaborative projects across extraction, processing and recycling of critical minerals, accelerating innovation and commercialisation opportunities.
• Demand Aggregation Platform: a new up to £5 million platform to help UK industry consolidate and pool its critical mineral demand across different industries, unlock investment and secure supply through strategic partnerships.

Together, these measures will help grow the UK’s domestic capability across the critical minerals value chain, and builds on over £200 million of funding already provided including through the National Wealth Fund, DRIVE35 and the UK Shared Prosperity Fund. 

A secure supply of critical minerals is vital for the UK’s economic growth and security, Industrial Strategy, and clean energy transition – and the Critical Mineral’s Strategy paves the way to creating resilient supply chains that will help protect British industry during a time of global instability.

The press release issued by the Department for Business and Trade on 17 June 2026.

Businesses to start preparations for historic UK-India trade deal worth £4.8bn to enter into force next month.

• Milestone trade deal with India to come into effect next month, marking quickest ever turnaround following signature
• Businesses encouraged to prepare for entry-into-force to feel the benefits of massive tariff cuts
• UK agreement will be the most comprehensive trade deal India has ever brought into force

The UK and India have today (Wednesday 17th June) announced their landmark trade deal will enter into force next month so working people and businesses can benefit.

Businesses, who now have 28 days to prepare for the entry-into-force, will be able to trade under its terms from July 15th, following strenuous efforts to prepare UK and Indian systems. 

The deal, which is the most comprehensive ever agreed by India, will boost UK GDP by £4.8bn, real wages by £2.2bn and bilateral trade by £25.5bn every year in the long run.

Industries across the United Kingdom will benefit, with whisky tariffs cut from 150% to 40%, automotives from 100% to 10% under a quota and cosmetics will see tariffs of up to 22% eliminated either from day one or after 10 years.

Business and Trade Secretary Peter Kyle said: 

“We are bringing our landmark trade deal with India into force as quickly as we can, because we want businesses and the public to feel the benefits immediately, including cuts to tariffs of £400m within the first year alone. 

“The deal gives British exporters an edge over international competitors, and I would encourage all businesses to ensure they are properly prepared to allow them to sell to India’s huge market in the years to come.

“This week our UK-India Roadshow will begin travelling across all four nations to promote the incredible new opportunities this deal offers.”

India has never implemented a deal of this size, meaning the UK will have an immediate competitive advantage over other markets.

The UK will cut tariffs on Indian goods coming into the country such as clothes, footwear, and some food products. Less cost for British businesses importing Indian products could mean cheaper prices and more choice for consumers across the country.

We have extended the benefit for UK nationals moving to India to work and continue to build entitlement to a UK State Pension from 36 months to 60 months. They will continue to pay National Insurance Contributions during that period, without also having to pay social security contributions in India.

This is reciprocal for both British and Indian professionals and will be applicable to highly skilled professionals on pre-existing visa routes. This is in line with our arrangements with other countries such as Korea, Japan, and Canada.

This will be achieved through the UK-India Double Contributions Convention Agreement, which will enter into force at the same time as the UK-India FTA.

To benefit from the tariff reductions, businesses must register with HMRC. We would now encourage businesses to use the next 28 days to register and ensure they are fully prepared to reap the benefits of this deal.

The press release issued by the Department for Business and Trade on 11 June 2026.

Ministers from the UK and New Zealand make joint statement on the New Zealand-United Kingdom Free Trade Agreement.

This Joint Statement follows the meeting of the Minister for Trade and Investment of New Zealand and Secretary of State for Business and Trade of the United Kingdom on 1 June 2026. 

At their meeting, the Ministers opened the third Joint Committee of the New Zealand-United Kingdom Free Trade Agreement (FTA) and reaffirmed the strength of the New Zealand–United Kingdom trade relationship which reached a record £4.0bn or NZ$7.4bn of trade in goods and services in 2025. 

They noted this reflects the strength of the FTA, which celebrated three years since its entry into force on 31 May 2023, and its continued delivery of tangible benefits to businesses and consumers. 

In 2025, £675.1m or NZ$1,529.6m of traded goods successfully used preferential tariffs; i.e. around 91.5% of goods traded between the UK and New Zealand made use of preferences where one was available. High utilisation of preferential tariffs shows businesses are taking full advantage of the benefits of the FTA – reducing costs, improving market competitiveness and supporting trade growth.  

Between Jan and Dec 2025: 

• 88.5% of goods imports into New Zealand from the UK used preferential tariffs. Had this trade occurred at standard Most Favoured Nation (MFN) tariff rates, it could have encountered an additional £7.9m or NZ$17.9m in duties. 
• 92.4% of goods imports into the UK from New Zealand used preferential tariffs. Had this trade occurred at standard MFN tariff rates, it could have encountered an additional £98.4m or NZ$222.9m in duties. 

Ministers noted continued progress under the FTA and ongoing cooperation across its breadth. 

They welcomed advancements on a tariff rate quota data sharing arrangement between the New Zealand Meat Board and HM Revenue and Customs and noted the Joint Understanding reached by the UK and New Zealand on improving the terms of trade for dealcoholised and partially dealcoholised wines and committing to make as much progress as possible towards a mutually satisfactory outcome over the next year. Ministers also welcomed significant progress on the review of the digital chapter and look forward to concluding discussions and agreeing an outcome that supports shared ambitions for digital trade growth.  

They agreed that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) strengthens connections between the UK, New Zealand, and other Parties to the Agreement. Ministers reaffirmed their commitment to the CPTPP’s expansion via the accession of economies able to meet the Agreement’s high standards, the upgrading of the Agreement to ensure it remains of a high quality, and expanding the reach of the Agreement through the CPTPP-EU and CPTPP-ASEAN Dialogues to facilitate trade and support the international trading system. 

In an increasingly uncertain global environment, the Ministers underscored that open and rules-based trade is central to prosperity and economic security, and reaffirmed their commitment to defend, strengthen, and modernise the rules-based multilateral trading system.  

They reaffirmed the importance of a strong and effective World Trade Organization, at the core of the multilateral trading system, and the need to work together with urgency to progress, an inclusive and transparent WTO Reform agenda. 

Ministers noted the importance of advancing gender equality through trade. The UK announced its intention to begin the formal process to join the Global Trade and Gender Arrangement (GTAGA), underscoring the UK’s commitment to ensuring that international trade works for everyone. 

They welcomed the signing of a new bilateral Double Tax Agreement to better promote cross border trade and investment between the UK and New Zealand, by eliminating double taxation and improving certainty for taxpayers. 

Ministers committed to continued engagement to progress opportunities under the FTA and identified environment, inclusive, digital and services trade as priorities for further cooperation in the year ahead. 

The press release issued by the Department for Business and Trade on 10 June 2026.

The Business Secretary Peter Kyle is pleased to announce the appointment of Parminder Kohli as new Chief Executive Officer of the Office for Investment (OFI).

Parminder brings nearly three decades of senior leadership experience, including more than 20 years at Shell, where he has held a range of global roles across strategy, operations and commercial business lines.

He currently serves as Chair of Shell UK Ltd and Executive Vice President for Sustainability and Carbon, leading efforts to support the transition to a low-carbon economy and drive sustainable business transformation.

He has a strong track record of building high-performing organisations, delivering operational excellence, and fostering inclusive, diverse teams. Parminder has also been recognised for his leadership and advocacy, including being named in INvolve’s global lists of senior role models, and was appointed as a Social Mobility Commissioner by the UK Government in 2022.

In his new role, Parminder will be responsible for setting the strategic direction of OFI, ensuring delivery against its key priorities, and strengthening its position as a leader in its field. He will also focus on enhancing collaboration across government and with investors to support the UK’s growth mission.

Minister for Investment Lord Stockwood said:

I am delighted that Parminder Kohli will take up the role of Chief Executive Officer of the Office for Investment.

Parminder brings a wealth of senior leadership experience at a pivotal moment for our growth mission. Securing investment is essential to driving innovation, supporting regional growth, and creating lasting opportunities across the United Kingdom. I am confident that his expertise will play a key role in advancing these priorities and adding strength to an already brilliant team.

I look forward to working closely with Parminder to harness insights from across government and the private sector, strengthening our ability to drive growth through investment. Together, we will continue to foster a culture that values creativity, encourages collaboration, and delivers meaningful outcomes with continuity.

I am very pleased to welcome him to the team.

Commenting on his appointment, Parminder Kohli said:

The UK has extraordinary strengths in innovation, talent and enterprise. I am delighted to be joining the Office for Investment and look forward to working with investors, businesses and partners across government to attract investment that drives growth, creates opportunity and delivers prosperity across the United Kingdom.

Office for Investment Director General Ceri Smith said:

After nearly five years of working to attract investment into the UK, and the past 15 months radically transforming the Office for Investment into a unified and even more effective unit we are entering a new phase that calls for a CEO with a strong private-sector background who can take on a highly visible public leadership profile.

I look forward to welcoming Parminder as the new CEO and to working with him as he takes up the reins.

Parminder will start on 1 October 2026.