Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 18 September 2023.

The Department for Business and Trade has appointed Martin Kent as His Majesty’s Trade Commissioner (HMTC) for Asia Pacific.

• Martin Kent appointed as His Majesty’s Trade Commissioner for Asia Pacific
• With total UK-Asia Pacific trade worth more than £120 billion, the region offers huge potential for UK businesses
• Kent joins department’s team of nine HM Trade Commissioners encouraging UK trade and investment and promoting Global Britain across the world

Martin Kent has today [18th September] been appointed as His Majesty’s Trade Commissioner for Asia Pacific, succeeding Natalie Black CBE.

As the new Trade Commissioner for Asia Pacific, he will generate business opportunities for the UK while contributing to the growth of sustainable, resilient, and productive economies across the region.

Prior to his new role, Martin Kent was the Minister and Deputy Head of Mission in the British Embassy Tokyo, a Director within the Department for Business and Trade, and also HM Deputy Trade Commissioner for Africa. He started his career with the Boston Consulting Group (BCG), and has worked across the Asia Pacific region, including in BCG’s Singapore and Australia offices.

Alongside trade and investment, Kent will pursue regional security priorities in his new position, protecting free trade and supply chains and continuing the progression already made by the AUKUS security pact.

Business and Trade Secretary, Kemi Badenoch, said:

Our network of HMTCs bang the drum for Britain across the world, promoting UK trade, investment, and export finance.

I am delighted to welcome Martin to this role and am confident he will build on our outstanding track record on trade in Asia Pacific, expanding opportunities for British businesses in one of the world’s fastest growing markets.

With total UK-Asia Pacific trade worth more than £120 billion, the region offers huge potential for UK businesses.

The recently signed trade deals with Australia and New Zealand are set to deliver an economic boost by driving trade up by 53% with Australia and 59% with New Zealand and could also mean reduced prices for UK consumers on favourites such as wine, Tim Tams and kiwi fruit and lowered costs on machinery parts for UK manufacturers.

Further benefits are to be expected following the signing of the UK’s assession to CPTPP in July. Being part of the bloc will mean that more than 99 per cent of UK goods exports to CPTPP countries will be eligible for zero tariffs.

HM Trade Commissioner for Asia Pacific, Martin Kent, said:

I am delighted to be appointed as His Majesty’s Trade Commissioner for Asia Pacific. The region is the engine room of the global economy and is a major driver of global economic growth and opportunity for UK businesses.

I will be focused on securing and implementing high-quality Free Trade Agreements, attracting investment to all parts of the UK, opening markets for UK exporters, and positioning the UK as a beacon for free trade in the Asia Pacific region.

The press release issued by the Department for Business and Trade on 15 September 2023.

Minister Huddleston visits Oman to attend the Gulf Cooperation Council (GCC) Commerce Ministers’ summit.

Nigel Huddleston, UK Minister for International Trade, is in Oman today [13 September] to hold talks with top trade ministers from across the Gulf region.

This is the first time a UK Minister has been invited in this capacity to attend the Gulf Cooperation Council (GCC) Commerce Ministers’ summit – part of a regular series attended by commerce ministers from all six GCC countries. The summit comes a year after the first round of talks on a UK-GCC Free Trade Agreement.

UK Minister for International Trade Nigel Huddleston said:

We already have powerful trade ties with the GCC, and I am pleased to be able to take this chance to further improve our relationship.

We want a modern, comprehensive, and ambitious free trade deal that will promote innovation, encourage investment, and help develop the industries of the future.

“There’s a great prize on offer here – the potential for what we can achieve together in the years and decades to come is huge.”

The GCC is one the UK’s most important trading partners, with trade growing to £65.2 billion in 2022 – an increase of over 75% in current prices. Previous Government analysis shows that, in the long run, a deal with the GCC is expected to increase trade by 16%.

A deal could increase UK businesses’ access to booming markets in the Gulf and will also make it easier for people across the GCC to access UK expertise in areas including life sciences, artificial intelligence and renewables.

During the visit, the Minister will also tour the Port of Salalah, the biggest port in Oman, ranked the second most efficient container port in the world in 2021.

Oliver Christian, the government’s new Trade Commissioner for the Middle East, will join Minister Huddleston for discussions.

The press release issued by the Department for Business and Trade on 11 September 2023.

BMW are set to announce a multi-million-pound investment in their Oxford MINI plant, which will take investment in the UK automotive sector to over £6 billion.

The press release issued by the Department for Business and Trade on 6 September 2023.

Japan’s Minister of Economy, Trade and Industry and the UK Secretary of State for Business and Trade held the first Japan-UK Strategic Economic Policy and Trade Dialogue in London.

The press release issued by the Department for Business and Trade on 4 September 2023.

A clampdown on fake reviews and hidden fees has been announced by the Government which will help customers cut the costs of living.

• Series of new business measures proposed to boost transparency and help consumers with cost of living as they shop.
• Fake reviews, hidden fees and confusing labels all targeted in new consultations, aimed at improving services for customers.
• New research found three quarters of transport sector have hidden fees in their products, highlighting need for clearer and fairer customer journey.

Consumers are at the heart of new consultations launched later today as the Government commits to improving transparency, fairness and clarity for customers as they shop – including a crackdown on hidden fees in products ranging from train tickets to food deliveries.

Commissioned by the Prime Minister in June as part of the Government’s ongoing work to support people with the cost of living, government research published today will inform the consultation to ensure we root out where ‘drip pricing’ harms consumers most.

The research has confirmed so-called ‘drip pricing’ – where the price paid at checkout is higher than originally advertised due to extra, but necessary, fees – is widespread, and occurs in more than half of providers in the entertainment (54 percent) and hospitality (56 percent) industry, and almost three quarters across transport and communication (72 percent) sectors. In total, this costs UK consumers £1.6 billion online each year.

Minister for Enterprise, Markets and Small Business Kevin Hollinrake said:

Today’s measures will help people keep hold of their hard-earned cash and ensure they have the clearest and most accurate information upfront before they make a purchase.

From the shelves of supermarkets to digital trolleys, modern-day shopping provides a great wealth of choice. But fake reviews and hidden fees can make those choices increasingly confusing and leaves customers unsure about what product is right for them.

We’ll be listening to industry to ensure these new regulations work for businesses too and don’t generate unnecessary burdens, while at the same time providing a crucial safety net for consumers and their cash.

Another consultation launching later today seeks views on measures to stop fake reviews, as initially announced in the Digital Markets, Competition and Consumers Bill (DMCC).

The ambition is to ensure that consumers and traders continue to benefit from reviews that represent a genuine experience, while stamping out the purchase and sales of fake reviews, and ensuring firms take an appropriate level of responsibility for reviews on their websites.

The final consultation launching later today looks at how to simplify labelling on goods.

Following a review by the Competition and Markets Authority (CMA), the Department for Business and Trade has put forward proposals to reform the Price Marking Order (PMO).

The PMO requires traders to display the final selling price and, where appropriate the final unit price (e.g. price per litre/kilogram) of products in a clear way.

These changes will ensure unit pricing is consistently applied, including to promotions and special offers, helping consumers compare products easily and identify what items represent the best value to them.

Sarah Cardell, CEO of the Competition and Markets Authority said:

This consultation follows recommendations from the CMA to government to tighten the rules on how everyday items are priced on supermarket shelves as well as our work tackling fake reviews online.

We’re very pleased to see this getting underway and it’s an important step toward clearer rules and greater transparency for people when shopping around for goods and services.

We’ll feed into this consultation and continue our work in these areas, which we’ll be updating on later this year.

Rocio Concha, Which? Director of Policy and Advocacy said:

The measures being consulted on will address longstanding concerns to help consumers make better informed decisions – whether shopping for products online or buying a weekly shop in the supermarket. Our research shows that fake reviews jeopardise consumer trust and are harmful to honest businesses that don’t purchase or incentivise people to post positive reviews.

Customers also need clear pricing upfront when considering a product or service and should not find themselves having to pay for charges hidden until the checkout like mandatory booking fees. Supermarkets also need to make it easy to compare the unit price of everyday items to help consumers make informed choices during the cost-of-living crisis.

Graham Wynn, Assistant Director for Consumer Policy at the British Retail Consortium said:

The BRC fully supports practical, proportionate consumer protection measures and the level playing field they bring. It is important to keep the rules up to date to reflect changes in buying and selling methods. We look forward to engaging constructively on the proposals.

The Government has already acted to reduce burdens for businesses while ensuring high quality standards for consumers. In August, we announced the extension of the use of CE marking, while also launching a major review into fire safety regulations alongside product safety.

Meanwhile the DMCC Bill, which will look at powers to ban fake reviews, will clamp down on unfair behaviour by a small number of the most powerful tech companies as well as tackling issues such as subscription traps – all with the aims of saving consumers money and boosting competition.

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

A statement from the department in response to the Supreme Court’s Judgement in the case of Paccar Inc. and others vs. Competition Tribunal and others.

The press release issued by the Department for Business and Trade on 28 August 2023.

Women’s sport investment is set to be boosted by a new scheme launched by the Department for Business and Trade, the Women’s Sport Investment Accelerator.

In association with Deloitte’s Sports Business Group and supported by the International Working Group (IWG) on Women and Sport, the new initiative will run for a year starting from autumn 2023.

It will bring UK-based women’s sports rightsholders – leagues, teams, competitions and events – who are seeking investment together with industry experts and sports investors.

The new programme will provide a series of sessions offering market insights, connections and networking events alongside comprehensive mentoring for rightsholders who are looking for investment.

Elite women’s sport competitions such as the FA Women’s Super League and Netball Super League are among those which could benefit.

Minister for Industry and Economic Security Nusrat Ghani said:

We want to make the UK the world’s top destination for women’s sport investment, and with this new scheme we can build on the Lionesses’ fantastic World Cup run to help attract investment in women’s sports’ next success stories.

This is an open goal for women’s sports leagues, teams and competitions looking for backing and will give rightsholders the tools they need to secure investment and drive growth.

The application process is open to rightsholders of any UK-based women’s sports leagues, teams, competitions or events aiming to attract investment and boost their growth.

It 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 partnership with Deloitte, who are providing event space and facilitating several of the scheme sessions.

Investment in women’s sport is growing rapidly and the popularity of the Lionesses’ run to the final of the Women’s Football World Cup demonstrated the scale of the opportunity available, in an industry expected to be worth over £1 billion a year by 2030.

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

The Women’s Sport Investment Accelerator is a fantastic initiative for the UK and one which the IWG is very pleased to support.

This year has been exciting for women’s sport around the globe, and we’ve seen some superb performances on the field of play and fanbase growth off it. The standard has risen, and the increased long-term investment has undoubtedly played a part in this.

The Accelerator pilot programme will help women’s sports teams and leagues capitalise on this opportunity and help push forward women’s sport.

The press release issued by the Department for Business and Trade on 24 August 2023.

The Secretary of State launches Alive with Opportunity, a campaign designed to build on the UK and India’s strong relationship, and boost trade and investment.

The press release issued by the Department of Business and Trade on 24 August 2023.

The UK government has today begun its first Clean Energy Trade Mission to Australia.

Ten UK companies are travelling to Western Australia and Victoria to explore and engage with Australian business and partners as Australia moves towards net zero.

The Mission will showcase the technology, companies and research projects that are redefining the energy sector. Representatives from ten organisations which between them cover a range of specialisms including wind power and support, resilience consulting, fuel cell technologies, hydrogen system integration and deep sea robotics and engineering. Attendees will have the chance to connect with like-minded companies and explore avenues for joint ventures, investment opportunities, collaboration and innovation.

With COP28 just a few months away, the Clean Energy Trade Mission is another example of the UK and Australia working together on the shared challenge to limit the Earth’s warming to 1.5 degrees Celsius. It comes as the UK continues to invest in the industries of tomorrow. £600 billion has been committed to the Green Industrial Revolution. The UK continues its climate leadership through the Plan for Growth.

At the same time, our new UK-Australia Free Trade Agreement offers smoother trade and investment between our countries – zero tariffs, easier business travel and reduced red tape. This generates enormous opportunities for business and investors in our two markets.

Louise Cantillon, HM Deputy Trade Commissioner for Australia said:

I’m delighted to welcome the first UK Clean Energy Trade Mission to Australia. This mission showcases phenomenal UK companies who are using the latest technology to deliver cleaner, greener energy and support the transition needed to reach net zero.

Clean Energy continues to be a key priority of the UK government with significant opportunities for investment in flagship projects and exporting key innovation and technology expertise. Together we can usher in a new era of renewables that will reduce the cost of going green and expedite a low carbon economy.

The Australian Government has recently committed to investing $4 billion to become a renewable energy superpower and invested $2 billion in Hydrogen Headstart, a new program to support hydrogen production.

There will be sessions with leaders in clean energy sectors, such as off-shore wind specialists, environmental consultants, marine technology companies and several more. The wealth of knowledge and opportunity offered by the Clean Energy Trade Mission marks our excitement for what can be a cleaner, more sustainable future.

The press release issued by the Department for Business and Trade on 21 August 2023.

Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities.

• Exports Minister Lord Offord is in Uzbekistan to promote UK exports to Central Asia – one of the fastest growing regions in the world
• Visit aims to grow the existing £267 million total trade between the UK and Uzbekistan
• Government continues to support UK companies like Arup and ERG looking to enter the Central Asian market

Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities. With the wider Central Asian region expected to grow by 5.4 per cent in 2024, Uzbekistan offers clear and tangible opportunities for UK businesses.

During a three-day mission to Uzbekistan, the Minister will meet government counterparts and business leaders and focus on infrastructure and mining opportunities for UK exports to boost our trade relationship.

Lord Offord will also visit Almalyk Mine and gold processing facility to identify areas for UK cooperation and export. Mining in Uzbekistan offers huge opportunities to the UK market with the world’s fourth-largest gold reserves and its position amongst the top 15 countries with the largest copper reserves. The UK’s world-leading expertise in clean energy can help to influence the transition to a cleaner, greener mining future.

In addition to promoting UK exports, a key objective of the mission is to protect free trade and the UK is proud to support Uzbekistan’s accession to the World Trade Organisation.

Exports Minister Lord Offord said:

Uzbekistan is a growing market full of untapped business opportunities. The UK’s total trade with Uzbekistan sits at just £267m, so this visit is our chance to uncover where UK exports can tap into the Uzbek market – driving growth and creating jobs both at home and abroad.

Lord Offord will highlight how UK Export Finance – the UK’s export credit agency – can help mobilise finance and promote the strengths of UK businesses in priority economic and social sectors, supporting critical projects in clean energy, transport, healthcare, education, and manufacturing.

The Minister is set to meet with Uzbek Deputy Prime Minister and Minister for Finance and Economy, Jamshid Kuchkarov Laziz Kudratov, Uzbek Minister of Investment Industry and Trade, Laziz Kudratov, and Uzbek Foreign Minister, Bakhtiyor Saidov.

Lord Offord will also hold meetings with Azizbek Urunov, Special Representative of the President for the WTO, Chief Negotiator and Abdulla Khursanov, Chairman of Almalyk MMC.

Notes to editors

• On 13-16 November 2023, the 27th Uzbek-British Trade and Industry Council (UBTIC) will take place across London and will bring policymakers and business leaders from Uzbekistan and the United Kingdom to network and discuss bilateral trade.
• In 2024 Central Asian economies are set to grow by 5.4 per cent on average according to EBRD forecast.
• UK Export Finance is the UK’s export credit agency and a government department, working alongside the Department for Business & Trade as an integral part of its strategy and operations.