Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 14 November 2023.

The new ATI SME Programme will provide up to £10 million per year in funding opportunities for UK aerospace SMEs’ cutting-edge R&D projects.

• Government launches new funding Programme targeting cutting-edge SME aerospace research projects to advance net zero aviation and boost high-skilled jobs.
• Worth up to £10 million per year, the Programme will help secure more high-skilled aerospace jobs across the UK.
• Funding provided through the Aerospace Technology Institute (ATI) will drive innovative UK SME research projects and grow UK’s share of global aerospace sector, helping to grow the economy.

Cutting-edge British aerospace companies are set to benefit from a new multi-million pound SME Programme that will secure high-skilled jobs and help the UK lead the way on greener air travel.

The Aerospace Technology Institute (ATI) SME Programme will offer UK-based small and medium-sized firms the chance to bid for a share of £10 million total funding per year towards their innovative research projects.

The Programme is being announced by Industry Minister Nusrat Ghani today (14 November) at the ATI’s 2023 Conference in Birmingham. It will be delivered in partnership with the ATI and Innovate UK.

Industry Minister Nusrat Ghani said:

I’m delighted to announce the new ATI SME Funding Programme, which will help propel our world-leading aerospace sector to new heights in the pursuit of innovative, clean, green air travel.

UK aerospace businesses, with their expertise and innovation, are helping drive the industry on its journey to Net Zero by 2050, and in the process are helping us grow the UK economy and support high-skill, high-wage jobs.

ATI CEO Gary Elliott said:

We know from the success of the ATI Programme that supporting advanced technologies secures market share for the UK, bringing economic benefit and delivering against the sector’s sustainability commitments on our journey to Destination Zero.

By connecting capability and funding technology development, the SME Programme will benefit organisations of all sizes across the nations and regions of the UK.

The new Programme will open to applications in February 2024 and aims to give SMEs the best opportunities possible to apply for funding to develop innovative technologies supporting the Government’s commitment to Jet Zero.

This is the plan to achieve net zero carbon emissions for commercial aircraft by 2050, while also keeping the UK’s aerospace industry competitive in the sustainable design, manufacture, assembly and operation of future aircraft.

The Programme will allow SMEs in the UK aerospace sector to bid for grants of up to £1.5 million each, helping to boost high-skilled jobs in the industry across the UK.

It also builds on the Government’s commitment to backing UK aerospace R&D to succeed, as demonstrated by the ATI Programme, for which government provided £685 million in 2022.

Support for organisations engaging with the SME Programme will be delivered by the ATI Hub. This will include sessions with ATI technologists, themed innovation workshops and guidance on preparing for a pitch-panel presentation.

The ATI Hub can also generate new connections between start-ups, SMEs, bigger and tier one organisations which could become consortia applications to the SME Programme.

The press release issued by the Department for Business and Trade on 10 November 2023.

British goods remain eligible for reduced or zero tariffs to Mexico after UK secures extension to ‘rules of origin’ provisions.

The UK has secured an extension to arrangements that were due to expire, helping British manufacturers access lower or zero tariffs when selling their products to Mexico.

The arrangement will come into effect from 1 January 2024 and will remain in place until a new UK-Mexico Free Trade Agreement enters into force.

The deal will provide welcome certainty for UK businesses, helping them to continue avoiding high tariffs imposed by Mexico and maintain their competitive edge in the market. The announcement is particularly welcome news for the automotive and food and drink sectors, with road vehicles accounting for almost £300 million in exports to Mexico, almost 20% of all goods exported.

Mexico is the 14th largest economy in the world and second largest in Latin America, and its demand for imports is forecast to grow by 42% between 2021 and 2035 as its economy continues to grow. With a population of over 130 million people, its market is larger than France and Italy combined.

Minister for Industry and Economic Security Nusrat Ghani said:

Ensuring UK goods avoid higher tariffs is essential for British businesses to stay competitive in this huge and dynamic market of over 130 million people.

This extension will provide UK businesses exporting to Mexico with certainty as they plan for next year and beyond while the UK and Mexico negotiate an exciting new trade deal covering the 21st century economy.”

When the UK negotiated its current trade agreement with Mexico, rolled over from our membership of the EU, time-restricted provisions were agreed to allow for the use of EU inputs in UK products in meeting the UK-Mexico rules of origin. The extension will apply until the entry into force of new, permanent rules as part of a new, enhanced free trade agreement with Mexico.

Protecting our integrated supply chains with longstanding trade partners like Mexico is vital for both British and Mexican businesses as we continue to see supply chain disruption impact the global economy. This extension will therefore benefit businesses in both countries.

The UK and Mexico launched negotiations on the new deal in May 2022. The deal is intended to replace our existing, outdated trade deal which was agreed over 20 years ago and boost our £6.2 billion trading relationship.

Chief Executive of the Society of Motor Manufacturers and Traders Mike Hawes said:

We welcome this pragmatic decision as it avoids duty liabilities from January 2024 which, given the long standing and productive relationship between the UK and Mexican automotive industries, would have undermined our mutual trade. Mexico is among the top 10 global markets for UK car exports and we now look forward to the swift agreement of a modernised trade deal as this would deliver even more benefits for both sides, boosting bilateral trade in hybrid and ICE technologies as well as zero emission vehicles.”

Director of Sustainability and Growth at the Food and Drink Federation Balwinder Dhoot said:

This is welcome news for UK food and drink manufacturers, avoiding any disruption to an increasing export market worth almost £175 million to the UK, our third largest in Latin America. It helps maintain important partnerships that are already established between UK and Mexican businesses, and allows continuity and certainty to exporters until a new and ambitious agreement is negotiated. This will help businesses to export more and ensures continued access to seasonal imported ingredients that complement our industry’s use of domestic produce.”

The news comes as International Trade Weeks comes to a close. Businesses from across the UK participated in over 170 events and activities across the week aimed at supporting them sell internationally for the first time.

The press release issued by the Department for Business and Trade on 9 November 2023.

The Department for Business and Trade has launched the Dairy Export Programme designed to help grow agri-food exports in overseas markets.

• New Dairy Export Programme launched to help grow agri-food exports in overseas markets.
• Programme includes UK Dairy Showcase, education sessions and trade missions and follows £1m funding committed to dairy sector exports by the Prime Minister in May at the Farm to Fork Summit.
• Minister for Exports Lord Offord visits Lye Cross Farm in Bristol to launch programme and showcase government support for UK dairy sector, which exported over £2 billion of products to 135 countries in 2022.

The UK’s dairy industry is set to be boosted by a brand-new programme to increase exports, the Government announced today (9 November).

The Dairy Export Programme, which Minister for Exports Lord Offord will formally launch today during a visit to Lye Cross Farm in Bristol, will help UK agri-businesses grow by seizing new export opportunities and exploiting overseas markets for their products through a comprehensive package of export support.

The Prime Minister committed £1 million to the dairy sector at the Farm to Fork Summit hosted at 10 Downing Street in May. The Dairy Export Programme is a direct result of this funding and forms part of a wider package of Government support for agriculture, food and drink. This includes an investment of £2 million to boost DBT’s programme of global tradeshows and missions, which will be delivered in partnership with industry and the Food and Drink Export Council.

The programme will provide a wide range of targeted support for businesses, through education sessions on how to boost exports and target new markets and trade promotion activity, including an inward buyer trade mission and a UK Dairy Showcase.

It will also provide specialist resource in priority markets dedicated to supporting dairy exports and market intelligence support to help businesses exploit overseas opportunities.

Minister for Exports Lord Offord will visit dairy exporter Lye Cross Farm in Bristol, where he will launch the programme and hear about their exporting success.

Minster for Exports Lord Offord said:

Growing the agri, food and drink sector is key to growing our economy, and I am delighted to launch the Dairy Export Programme which will help businesses grasp exciting new opportunities around the world.

Last year our dairy exporters sold £2 billion of products to markets worldwide, and the work we are doing to strike up new trade deals will only see that figure rise further and move us forward in the race to £1 trillion of exports by 2030.

The UK dairy industry is among the best in the world and is renowned for being ambitious and innovative, with SMEs making up a large proportion of the sector and exporting over £2 billion of goods a year to over 135 countries.

The Dairy Export Programme will build on strong existing support for the sector from DBT, which this year has included facilitating buyer tastings at Anuga, the key international food and drink trade show in Cologne, a dairy showcase at Foodex in Japan, and supporting dairy companies exhibiting at the Food and Hospitality China trade show in Shanghai.

Food and drink companies also benefit from support through DBT’s Export Support Service, Export Academy, UK Export Finance and a network of International Trade Advisers.

DBT also has more than 100 advisers overseas who are focused on the agriculture, food and drink sector and who work alongside agri-attachés to tackle barriers and boost exports.

AHDB Chief Executive Tim Rycroft said:

International trade remains critical to the sector. Export development is at the heart of what AHDB does, showcasing our high-quality produce at international trade shows and hosting inward missions for key international buyers.

We welcome today’s announcement of additional government support for the dairy sector and will continue to work collaboratively with government and industry to deliver impactful activities and help maximise global opportunities for our levy payers.

It will support our ambition to help increase market access and international sales by championing the reputation of UK products overseas, as well as encouraging more businesses to export.

NFU Dairy Board Chair Michael Oakes said:

The NFU has been working closely with dairy producers, exporters and government through the Dairy Export Taskforce to examine ways to reduce trade barriers for dairy, improve market access and identify new opportunities for growth.

This new £1m programme shows how industry and government collaboration can help drive UK dairy exports, target new markets and bolster our exporting strength. With the global demand for dairy set to rise significantly, the UK should be leading the way when it comes to the trade of safe, high-quality and sustainable UK dairy products.

Peter Dawson, Policy & Sustainability Director Dairy UK and Chair of the Dairy Export Taskforce said:

Exports by dairy processors make a major contribution to the UK economy and there is considerable potential for growth. We welcome the support package announced today and look forward to continuing to work closely with DBT to maximise its benefit for dairy exporters and the dairy supply chain in general.

Notes to editors:

• The Dairy Export Programme was formed in a collaborative consultation between DBT, the Dairy Export Taskforce and the wider UK dairy industry.
• The Dairy Export Taskforce is an industry-led initiative to boost exports. The taskforce includes NFU, Dairy UK, AHDB and dairy businesses. DBT and DEFRA also participate.

The press release issued by the Department for Business and Trade on 8 November 2023.

26th annual trade talks with Taiwan take place in London.

The press release issued by the Department for Business and Trade on 7 November 2023.

The press release issued by the Department for Business and Trade on 31 October 2023.

The Department for Business and Trade’s new Women’s Sport Investment Accelerator scheme has held its first session, with seven different sports represented.

20 top tier women’s sport leagues, teams and competitions across seven different sports took part in the first session of a new Government scheme to boost investment and increase broadcast audiences.

The Women’s Sport Investment Accelerator, launched by the Department for Business and Trade (DBT), will run for a year and bring together UK-based sports rightsholders – such as leagues, teams, competitions and events – who are seeking investment together with industry experts and sports investors.

Participants included elite women’s sport competitions such as the FA Women’s Super League, England Rugby, England Netball, England and Wales Cricket Board, Volleyball England and more.

Seven different sports were represented in total: football, rugby, netball, cricket, golf, sailing and volleyball. Investment in women’s sport is growing rapidly, and the industry is expected to be worth £1 billion a year by 2030.

Industry Minister Nusrat Ghani said:

It’s fantastic to see this scheme get off the mark as we aim to make the UK the world’s number one destination for women’s sport investment.

We’ve had so many brilliant women’s sport success stories this year. I’m excited to see the overwhelming appetite from leagues, teams and competitions from right across the breadth of women’s sports, and am proud to back this fast-growing sector as it pushes boundaries and grows to the next level.

In association with Deloitte’s Sports Business Group and supported by the International Working Group (IWG) on Women and Sport, the scheme is providing a series of sessions offering market insights, connections and networking events alongside comprehensive mentoring for rightsholders who are looking for investment.

This week marked the first of three flagship sessions of the scheme – the next of which takes place in January – with DBT also providing dedicated workshops for rightsholders on specific areas, such as growing broadcast revenues, unlocking new audiences and best practice for working with investors.

Holly Murdoch, The FA’s Head of Operations for the Women’s Professional Game, said:

We are proud to be involved in the new Women’s Sport Investment Accelerator initiative. This group will help to provide a platform that will benefit women’s sport across the country, through shared intelligence and support.

We have seen first-hand the incredible growth that women’s football is going through in England, with the unprecedented success of the Lionesses and the record-breaking seasons from across the Barclays Women’s Super League and the Barclays Women’s Championship.

Women’s sport has proven that it has the power to inspire people and positively impact lives – and we believe that creating this group of industry experts can be a catalyst to drive positive change for women’s sport across the country.

Tony Sutton, CEO of the Rugby Football League said:

We had an excellent first session of the Women’s Sport Investment Accelerator last night, with a really good mix of people, sports and organisations in the room which led to a high standard of debate, the benefit of some very relevant experience and some positive networking.

Personally, I made some good contacts from across the wider sports sector which I feel will be of a high value as we move through the programme.

Hannah Bruce, Head of Public Policy, England and Wales Cricket Board said:

Women’s sport is on an upward trajectory and cricket is proud to be on the journey to becoming a gender balanced sport. The first accelerator session was a fantastic opportunity for rightsholders to come together, share best practice and explore emerging trends.

We are grateful to the Department of Business and Trade and Deloitte for their support in showcasing what the best of UK women’s sport has to offer now and in the future.

Fiona McIntyre, Managing Director of the Scottish Women’s Premier League said:

I am delighted to have been selected to participate in the Women’s Sport Investment Accelerator programme on behalf of The Scottish Women’s Premier League (SWPL). External investment has been crucial to our recent growth, and will be even more vital as we strive to challenge women’s football in Scotland to think innovatively and ensure it meets its undoubted potential, both on and off the pitch.

This programme is exactly what women’s sport in the UK needs – creativity, innovation and support combined with the passion and motivation of those striving to raise the bar and create a new future for women’s sport in the UK.

Phoebe Tomlinson, England Rugby’s Commercial Partnerships Manager for the Women’s and Girls’ Game said:

It was hugely valuable to be part of the dynamic conversations around women’s sport. The open forum to discuss strategic plans, digital development and learn from other sports rights holders is key to the positive movement of women’s sport.

One of the highlights of the evening was learning about the robust commitment to investing in the women’s game and the exciting strides that have been made in commercialising it through innovative means.

Mark Foster, Chief Commercial Officer at England Netball said:

It was fantastic to attend the first session of the Women’s Sport Investment Accelerator programme on behalf of England Netball. The room was full of highly impressive people all with a passion and desire to support the further growth of Women’s Sport and this programme can help us all to learn from and support each other as well as benefit from the expertise of DBT & Deloitte and the channels for investment that they can help us to unlock.

Off the back of our Vitality Roses making their first World Cup Final in the summer and the recently announced re-launch of Netball Super League planned for 2025 this programme comes at the ideal time for us as a sport as we enter into a substantial growth period, which will require investment from a variety of different sources to help us to achieve our ambitious targets.

Rob Payne, National Competitions Manager at Volleyball England said:

I’m delighted to participate in the Women’s Sport Investment Accelerator programme on behalf of Volleyball England. The prospect of attracting new investment is a key priority in our ambitions to professionalise the Women’s game, and this programme will be an important stepping stone in achieving them.

A fundamental part of our organisational strategy is focused on raising the profile of the MAAREE Women’s Super League, and the opportunity to receive dedicated mentoring, network with world-leading organisations and build my knowledge through insights from industry experts will be hugely valuable to transform our sport.

Jenny Mitton, Women’s Sport Lead at M&C Saatchi Sport and Entertainment and mentor for the scheme said:

Women’s sport is the progressive start-up to the men’s sport commercial giant, and the potential is clear to see. New audiences, innovation and aggressive growth, it has all the fundamental qualities that investors look for.

The UK is home to some of the most exciting women’s sport properties, this scheme will equip them with the knowledge to attract investment and make the UK the number one destination for elite women’s sport.

Tim Bridge, lead partner for Deloitte’s Sports Business Group, said:

The Women’s Sport Investment Accelerator has already generated huge interest from parties across a range of industries, demonstrating that investors and commercial partners are alive to the opportunities that women’s sport offers.

This will be crucial for growth, providing funds to be channelled towards professionalisation, digital strategies, infrastructure, and more. This programme will carve out the clear lines of communication that are needed so that commercial partners and investors understand the growth strategies and make-up of women’s sport organisations.

Secretary General of the IWG Women and Sport, Lisa O’Keefe said:

The first session of the Women’s Sport Investment Accelerator brought together sports rightsholders from a range of sports from across the UK, which was brilliant to see, as well as industry experts and potential investors.

I heard some excellent discussions taking place about the current commercial landscape, the factors driving the growth in investment, and what the learnings have been from the past, and I’m now looking forward to seeing what opportunities will emerge.

Background:

• The application process for the Women’s Sport Investment Accelerator is open to rightsholders of any UK-based women’s sports leagues, teams, competitions or events aiming to attract investment and boost their growth.
• The scheme is also being made available at no cost to taxpayers, with all speakers and mentors providing their time and expertise on a pro bono basis and the scheme being delivered through DBT’s collaboration with Deloitte, who are providing event space and facilitating several of the scheme sessions.
• Source for £1 billion women’s sport industry value projection figure: Women’s Sport Trust research.

The press release issued by the Department for Business and Trade on 30 October 2023.

Industry Minister Nusrat Ghani is in Mongolia in an historic visit to boost the UK’s critical minerals supply chains.

The press release issued by the Department for Business and Trade on 26 October 2023.

Britain’s most sought-after luxury fashion designers will join a landmark trade mission to Japan to boost exports to the Japanese market ahead of the G7 summit.

• First Secretary-led luxury fashion trade mission to Japan since 2017 including sought after brands such as Christy’s and Freya Rose.
• Trade Secretary Kemi Badenoch to announce largest ever UK government backed renewables export deal in partnership with Japan – worth more than £130 million in UK made parts.
• At G7 trade talks in Osaka, Trade Secretary will champion free and fair trade and work to develop resilient global economic supply chains.

Britain’s most sought-after luxury fashion designers including Ettinger and Freya Rose will join a landmark trade mission to Japan to boost exports to the Japanese market.

The trade mission, led by Business and Trade Secretary Kemi Badenoch, is the first Secretary-led trade mission of its kind since 2017, following a luxury goods roundtable discussion in London where some of the delegates presented the exciting opportunities that Japan has to offer.

The delegation met Japanese fashion buyers on Wednesday with support from the UK Government and will showcase their products – from hand painted scarves to lab grown jewellery – at the British Embassy in Tokyo to high profile Japanese influencers including Yu Masui.

The visit seeks to increase exports of UK luxury brands to the Japanese market, as part of the Business and Trade Secretary’s mission to hit £1 trillion worth of UK exports by 2030. In 2022, UK fashion goods exports to Japan totalled £134 million, which the department aims to boost even further.

Business and Trade Secretary Kemi Badenoch said:

I’m delighted to be travelling to Japan with iconic British brands to bang the drum for UK business, and help more companies take full advantage of the opportunities on offer from our free trade deals such as the UK-Japan agreement and CPTPP.

The G7 trade summit gives me the opportunity to continue to champion free and fair trade on behalf of UK PLC, helping remove barriers to trade, strengthen supply chains and ensure the global trade rules work for British businesses.

The Business and Trade Secretary will also represent the UK at the G7 Trade Ministerial Meeting in Osaka, where she will bang the drum for free and fair trade and discuss the challenges countries face in diversifying supply chains to meet the needs of the future. During the two-day programme Badenoch is expected to meet with her counterparts including Yasutoshi Nishimura, Katherine Tai and EU Commissioner Dombrovkis.

Badenoch will host a Free Trade Agreement (FTA) Committee with Foreign Minister Yōko Kamikawa where she will look to further deepen the UK’s trading relations with Japan, building on the FTA signed in 2020. This has benefited British businesses by simplifying the rules of origin and low-zero tariffs, removing significant barriers to trade, supporting businesses to export their goods to this new and exciting market.

This follows the Prime Minister’s meeting with Japan’s Prime Minister Fumio Kishida in May to agree the Hiroshima Accord. Building on our shared values, the agreement sets out our intention to work together on global security, resilience, and innovation issues. Our trade relationship is strong with total UK exports to Japan amounted to £14.2 billion in the four quarters to the end of Q2 2023, an increase of 7.1% on the previous year.

In a further move to boost British exports to Japan, the Secretary of State will also announce the largest UK Government project finance guarantee for a renewables project: more than £130 million in UK goods, including Siemen Gamesa in Hull to build an offshore wind farm in Taiwan. The project is delivered by UK Export Finance in collaboration with NEXI, Japan Bank for International Cooperation (JBIC) and Mitsui. The funding will secure jobs and boost the offshore wind industry in the UK and supercharge UK Japan collaboration on renewable projects in developing countries.

Background

The business delegation includes:

• Anabela Chan: Anabela Chan is the first fine jewellery brand in the world to champion laboratory-grown gemstones and recycled metals, paired with high jewellery design and artisanal craftsmanship; always with a focus on ethical and sustainable innovations.
• Christy & Co: Christy & Co Ltd has been manufacturing fine hats in England since 1773.  Today, it still produces its hats and caps using traditional methods at its factory in Oxfordshire.
• Ettinger: Ettinger have been designing and manufacturing leather goods in their UK factory since 1936 and now supply retailers and consumers all over the world. Ettinger were granted the Royal Warrant from the Prince of Wales in 1996, which is a seal of approval for quality and trust.
• Freya Rose: Freya Rose is a multi-award-winning British shoe, bag and jewellery designer, established in 2010.  Freya Rose is renowned for her unique collections of sculptural, wearable works of art.
• Hemingsworth: Hemingsworth is renowned for its high-end ready-to-wear swimwear and leisurewear for men.  All garments are meticulously crafted and proudly produced in the UK, using only the finest materials and trims.
• Rapport: Rapport craft accessories for preserving luxury watches and jewellery.   The company was established in London in 1898 by the horologist Maurice A. Rapport and today, four generations later, is still run by the Rapport family.
• Sabina Savage: Sabina is a British artist and print designer known for her exquisite, hand-rendered illustrations, printed on silk, wool and cashmere scarves, who founded her eponymous brand in 2014.
• Swaine: Established in 1750 as whip and saddlery makers, the House of Swaine is the oldest name in luxury goods, serving the British Royal Family, nobility and gentry for hundreds of years.

The press release issued by the Department for Business and Trade on 25 October 2023.

First Working Group meeting under the UK – Oklahoma trade MoU takes place in Oklahoma City, OK.

Building on the enduring friendship and historical ties between the state of Oklahoma and the United Kingdom, on Tuesday 24 October 2023, representatives of both governments held the inaugural working group meeting created by the Memorandum of Understanding (MoU) on economic cooperation and trade relations signed in April this year.

Richard Hyde, Consul General for the United Kingdom in Houston, chaired the meeting hosted by Secretary Ken McQueen (Secretary of Energy and the Environment) in Oklahoma City, with officials from the respective governments and the Scottish and Northern Ireland Devolved Administrations. The discussion focused on identifying new opportunities for increasing bilateral trade in clean energy technologies, zero-emissions vehicles, agriculture, and public sector procurement. UK companies already employ over 10,000 people in the Sooner state. Participants used the working group to jointly plan activities that will further strengthen commercial links between the UK and Oklahoma and build on a strong trading relationship worth £294 million ($363 million) in goods trade in 2022.

The working group highlighted opportunities for further work and knowledge exchange to develop all areas of the MoU, specifically, on carbon sequestration and hydrogen fuel innovation, electric vehicle infrastructure and technology, agriculture, and Government/State procurement. It was agreed that subject experts on both sides would take forward detailed discussion and report back ahead of the next working group meeting which will involve representatives from industry as part of the continued work to deliver for businesses in the UK and Oklahoma.

The press release issued by the Department for Business and Trade on 17 October 2023.

On October 9, 2023, the UK Minister of State for International Trade, Nigel Huddleston MP, and the Colombian Minister of Trade, Industry, and Tourism, Germán Umaña, met in Bogotá, Colombia, for the third edition of UK-Colombia trade dialogues.

Ministers welcomed the longstanding and deep bilateral trade relations enjoyed between Colombia and the United Kingdom and committed to promote inclusive and sustainable trade that drives economic growth, business opportunity and job creation.

Ministers agreed on the importance of promoting sustainable foreign investment that, through value chains, can result in the development of new technologies and enhance each country’s competitiveness.

Ministers agreed to work together to increase support for the improvement of regulatory policy of mutual interest to Colombia and the United Kingdom. In addition, the ministers agreed to develop a joint road map as a mechanism to establish a methodology for holding annual UK-Colombia trade dialogues and assessing delivery of joint initiatives and collaboration.

Minister Huddleston set out the United Kingdom’s world-class offer in the renewable energy, infrastructure, and life sciences sectors, and the potential for closer working to help deliver Colombia’ economic, environmental and social ambitions.  He highlighted the United Kingdom’s willingness to exchange experiences and best practices in harnessing innovation and creating enabling environments to deliver for citizens in these sectors.

Minister Umaña expressed Colombia’s desire to modernise the international and bilateral frameworks governing investments.

Ministers celebrated the recent success in delivering joint objectives in key sectors of future growth:

• Renewable Energy: Ministers agreed to co-ordinate strategies for the regulatory development of hydrogen and offshore wind energy in Colombia to help develop the market.
• Life Sciences: Ministers welcomed the practical measures recently taken to support innovation on the sector and agreed that further co-operation can help deliver Colombia deliver its healthcare objectives.
• Infrastructure: Ministers welcomed the close working on sustainable transport infrastructure, which will be of benefit to Colombian citizens and help meet climate commitments. Ministers encouraged the implementation of the railway master plan.
• Agribusiness: Ministers expressed their pleasure in progress promoting sustainable land use and urged continued collaboration to open new market opportunities for agricultural products.

Ministers emphasized the importance of working together on the global stage, including in the WTO.  They agreed to continue discussions in the run up to next year’s MC13 to ensure that Ministers are able deliver tangible progress in areas such as services and climate change and safeguard the organisation’s effectiveness.

Ministers recalled the deep bond of friendship between the two countries, symbolised by the levels of cooperation in trade and investment discussed during the Dialogue. Minister Huddleston welcomed the progress that Colombia had made in its peace process and offered United Kingdom continued support in helping build sustainable and prosperous communities in former conflict areas.