Tag: Department for International Trade

The press release issued by the Department for International Trade on 30 November 2022.

On 29 November, 50 UK and U.S. small and medium sized businesses and business organisations attended the 6th UK-U.S. SME Dialogue in Edinburgh.

The UK-U.S. SME Dialogue brings together small and medium businesses on both sides of the Atlantic with UK and U.S. government officials to identify ways to strengthen cooperation and support companies from both countries to find new export opportunities in each other’s markets. It reflects the ongoing commitment from both countries to supporting and enhancing UK-U.S. SME trade.

During the Dialogue, a series of panel discussions covered opportunities for SMEs looking to grow through UK-U.S. trade and explored the particular challenges faced by SMEs exporting to either country. Attendees discussed the importance of using digital tools to reduce paperwork and streamline trading practices for SMEs, reducing costs and complexities for smaller firms expanding into new markets. Participants also discussed information and support available online for firms exporting for the first time – to make the trading journey simpler – as well as the specific challenges faced by women-owned SMEs.

Drawing on these stakeholder discussions, UK and U.S. officials held bilateral government discussions after the SME dialogue on 30 November. They agreed to a series of actions over the coming months to ensure that feedback from stakeholders translates into practical outcomes for SMEs. Over the next six months, the two governments agreed to:

• improve information and support for SMEs looking to trade in the UK and U.S, including by updating and enhancing toolkits for SME exporters,
• convene UK and U.S. government officials for expert-level discussions on digital trade and customs and trade facilitation to consider inputs from SMEs and identify opportunities for deeper cooperation on digital issues and paperless trading.

The next SME Dialogue is planned to take place in the U.S. in 2023, as an opportunity to take stock of progress on the above actions and further build on these discussions.

The UK also announced a North America Roadshow which will take place between 27 February – 10 March 2023 in over ten cities across the UK. The Roadshow will offer insights into the export opportunities that the U.S. and Canada offer and inspiration to UK SMEs considering how to grow and strengthen their companies through international trade.

The press release issued by the Department for International Trade on 30 November 2022.

The UK and Ukraine agree a new Digital Trade Agreement (DTA) to provide much-needed support for the Ukrainian economy following Russia’s illegal invasion.

• UK and Ukraine agree new Digital Trade Agreement (DTA) to provide much-needed support for Ukrainian economy following Russia’s illegal invasion
• Ukraine’s first ever digital trade deal will support its economy through the current crisis and lay foundations for its recovery and revival
• Deal is the second such agreement for the UK and follows our decision to cut tariffs on all goods from Ukraine to zero under existing UK-Ukraine Free Trade Agreement

The UK and Ukraine will today [Wednesday 30 November] agree a ground-breaking new Digital Trade Agreement (DTA) that will help Ukraine rebuild its economy and support livelihoods following Russia’s illegal invasion.

Trade Secretary Kemi Badenoch MP and Ukraine’s First Deputy Prime Minister and Minister for Trade and Economy Yulia Svyrydenko will meet in London today to agree the deal. It is the second such trade deal the UK has secured, following the world-leading agreement with Singapore finalised earlier this year.

UK negotiators worked at record pace with their Ukrainian counterparts to deliver a deal after the Ukrainian government highlighted the important role Ukraine’s first ever digitally focused trade agreement could play in bolstering the country’s economy.

Trading digitally is particularly important in the current conflict, where damage to Ukrainian infrastructure and warfare makes it much harder to trade physically. Digital tools and technologies will help Ukrainians access everyday vital goods and services during the war.

For example, there is a critical need for people to be able to use digital solutions to prove they are who they say they are, despite the loss of critical documentation or displacement across borders. The agreement provides a framework for the UK and Ukraine to cooperate to promote compatibility between their respective digital identity systems to help address this.

Trade Secretary Kemi Badenoch MP said:

“The landmark digital trade deal agreed today between our two countries paves the way for a new era of modern trade between us.

“This agreement will mean our businesses and governments can collaborate even more and ensure Ukrainians have access to essential goods and services digital trade opens up. This will help protect jobs, livelihoods and families now and in Ukraine’s post-war future.”

First Deputy PM and Minister for Trade and Economy Yulia Svyrydenko said:

“This digital trade agreement illustrates that Ukrainian IT companies operating in Ukraine are in demand around the world despite all the challenges of war.

“The UK-UA Digital Trade Agreement has enshrined core freedoms for trade in digital goods and services. Ukraine believes that an open and free framework for the digital economy is the best investment in future oriented development.”

Ukraine will have guaranteed access to the financial services crucial for reconstruction efforts through the deal’s facilitation of cross-border data flows. It also establishes greater cooperation between the UK and Ukraine on cybersecurity and emerging technologies, helping to keep UK and Ukrainian businesses and people safer.

By streamlining digital border processes, Ukrainian businesses will be able to better access the digitally delivered goods and services they need to succeed. They will also be able to trade more efficiently and cheaply with the UK through electronic transactions, e-signatures, and e-contracts.

As a global leader in digital, the UK is ideally positioned to aid Ukraine’s post-conflict transition to a digital economy, with over two-thirds of our services exports to Ukraine already digitally delivered.

techUK CEO Julian David said:

“techUK welcomes today’s agreement in principle on a UK-Ukraine Digital Trade Agreement. It comes at a crucial time for our friends in Ukraine and it will open up new opportunities for cooperation in tech and digital between our two countries.

“This agreement provides the framework for easy flow of critical goods and services, by ensuring the free flow of data and cybersecurity cooperation.

“We are committed to working with our members and the UK and Ukrainian governments to make the most of this agreement and support the Ukrainian economy at this difficult time.”

In May this year, the UK removed all tariffs under the existing UK-Ukraine free trade agreement, supporting Ukrainian businesses and producers to export goods and rebuild their economy.

Work is also underway, through the UK-Ukraine Infrastructure Taskforce, to build partnerships between companies from both countries which help repair damaged and destroyed infrastructure including bridges and homes in and around Kyiv.

The press release issued by the Department for International Trade on 28 November 2022.

Badenoch hosts the Board of Trade in Cardiff, where she will launch the Board’s report on Life Sciences and announce 28 new Export Champions.

The press release issued by the Department for International Trade on 21 November 2022.

Following intensive discussions, the UK and Switzerland have today agreed to extend the Services Mobility Agreement. The deal, which has been in operation since the start of 2021, has had a transformative effect on companies’ ability to provide services in each other’s countries by allowing employees to easily work in both states.

The extension of the agreement means UK professionals – from accountants and lawyers to advertising creatives – can continue to travel and operate freely in Switzerland for up to 90 days a year without needing a permit.

Switzerland is the UK’s sixth largest export market for services, worth over £12 billion in exports last year. ‘Other business services’, including accountancy, architectural, and legal services made up the majority of these, worth £6.5 billion, while financial services accounted for £1.9 billion.

The SMA will be rolled over for a further three years, providing UK and Swiss companies with welcome certainty. Moving skilled people between countries is vital to services exports, facilitating the delivery of projects and face to face conversations that help to win new clients and get deals done.

The two countries have also agreed to launch negotiations next year on a new free trade agreement, which will establish long-term arrangements for services mobility and boost trade between the UK and Switzerland even further, in 2023.

Trade Secretary, Kemi Badenoch, said:

The UK and Swiss economies are both services powerhouses and closely aligned. Today’s agreement is a win-win for both sides. From financial services in Edinburgh to cyber security in Wales, the deal ensures UK businesses capitalise on the huge opportunities on offer.

This is just the beginning. I am excited to launch negotiations on an ambitious, future-facing trade deal with Switzerland that will boost our already incredibly strong trading relationship, worth £39 billion last year.

Switzerland is a world leader in innovation and has placed top of the Global Innovation Index for twelve consecutive years. It offers huge opportunities for companies across the UK, who already export billions in services there every year. Scotland, home to Edinburgh’s thriving financial services scene, exported over £700 million in services to Switzerland in 2020 while Wales, with its cyber security hub, exported £175 million.

Rain Newton-Smith, Chief Economist at the Confederation of British Industry said:

Businesses across the UK will welcome today’s extension of the Services Mobility Agreement, as called for by the Trade in Services Council. With four in five UK jobs located in the services sector, the ability to work in Switzerland is hugely beneficial for firms trading with the UK’s 7th largest export market. Business will hope this injects crucial momentum as the UK and Switzerland prepare to negotiate an enhanced FTA.

The CBI’s co-chairing of the UK-Switzerland Bilateral Trade and Investment Council will provide an important forum for firms to discuss ways to further unlock new and exciting trade opportunities with Switzerland.

Policy Chairman of the City of London Corporation, Chris Hayward, said:

The extension of the Service Mobility Agreement is hugely welcome. Access to the world’s best talent, and a capacity to move highly skilled labour between the UK and Switzerland is of paramount importance to the financial and professional service sector.

The UK and Switzerland are the two largest financial centres in Europe which means strengthening our services trade relationship is a top priority for the sector. Looking ahead, we hope to see the mobility agreement expanded, incorporated and future proofed within a comprehensive Free Trade Agreement.

The press release issued by the Department for International Trade on 14 November 2022.

• Prime Minister reappoints Richard Graham MP as Trade Envoy to Indonesia, Malaysia, Philippines and ASEAN
• Graham to continue promoting UK trade in the region and encourage inward investment across the UK
• News comes as the Prime Minister travels to Indonesia today for the G20 Leaders’ Summit

Prime Minister Rishi Sunak has today (Monday 14 November) re-appointed Richard Graham MP as Trade Envoy to Indonesia, Malaysia, the Philippines and the Association of Southeast Asian Nations (ASEAN) to boost British business in the region.

The Indo-Pacific region is a key trading area for the UK as we pivot towards dynamic economies right across the world. The region is expected to account for the majority of global economic growth between 2019 and 2050, with demand for the types of key industries the UK specialises in – from life sciences to media to technology.

UK-ASEAN trade was worth £39.3 billion in the four quarters to the end of Q1 2022 – an increase of 12% from the same period last year.

In 2020 we became ASEAN’s first new Dialogue Partner in 25 years as part of plans to boost trade ties with this dynamic trading bloc in Southeast Asia. We have developed a new joint Plan of Action to strengthen security ties, deepen our economic partnership and strengthen resilience to shared challenges, such as global health security and climate change.

Richard Graham will use his skills, experience, and market knowledge to help UK businesses find new export and investment opportunities and promote UK trade in the region.

Trade Secretary Kemi Badenoch said:

Now is the time to future-proof our economy and seizing the post-Brexit opportunities in the Indo-Pacific will help us do it.

These are some of the largest, fastest growing and most innovative markets on the planet and they are eager to trade with us.

I’m delighted to see Richard re-appointed to this role to help foster closer ties with the region, encourage British businesses to grow and expand deliver jobs across the UK.

The news comes as the Prime Minister travels to Indonesia today to take part in the G20 Leaders’ Summit.

The UK and Indonesia have a history of science and innovation partnerships with more than 1,200 joint publications since the start of the millennium. Indonesia is currently the world’s 10th biggest economy in terms of purchasing power parity and is projected to be the fourth biggest by 2050.

Last month the UK signed an Memorandum of Understanding (MoU) with Indonesia to boost investment in sectors the UK excels in including life sciences, renewable energy, and access to critical minerals.

The deal will help UK businesses support clean infrastructure projects across Indonesia – such as tidal energy – and make it easier for UK firms to access Indonesia’s vast resources of vital minerals such as nickel, crucial for building our growing fleet of electric vehicles.

The UK also has a new Joint Economic Trade Committee (JETCO) with Indonesia, with the first Ministerial level talks taking place in February 2022, seeking to improve trade ties in key sectors.

The UK and Malaysia have also recently agreed to upgrade its trading relationship to a JETCO, with Ministerial level talks expected to begin in 2023.

The press release issued by the Department for International Trade on 14 November 2022.

The press release issued by the Department for International Trade on 10 November 2022.

1. The Second ASEAN Economic Ministers (AEM) – United Kingdom Consultation was held on 10 November 2022. The Consultation was co-chaired by H.E. Pan Sorasak, Minister of Commerce of the Royal Government of Cambodia, and Greg Hands MP, Minister of State for the Department of International Trade of the United Kingdom of Great Britain and Northern Ireland (UK).
2. The Meeting was pleased to note that the economies of ASEAN and the UK are on their path to post-COVID-19 recovery. According to statistics, total UK trade with ASEAN increased by 3.7 per cent from £36.6 billion in 2020 to £38.0 billion in 2021. The Meeting also noted that foreign direct investment (FDI) inflow from the UK to the ASEAN region had been growing prior to being impacted by the COVID-19 pandemic. In this regard, the Meeting noted that in 2020, the FDI inflow from the UK into ASEAN was at least £32.8 billion, £19.0 billion lower than in 2019. In 2020, ASEAN accounted for at least 2.0 per cent of the total UK outward FDI stock.
3. The Meeting reiterated its commitment to forge a closer cooperation to enable the continued growth of the UK and ASEAN economies following the COVID-19 pandemic. The Meeting expressed appreciation to the UK’s support to the region’s COVID-19 pandemic responses, including through its contribution made to the COVID-19 ASEAN Response Fund and to the ASEAN Comprehensive Recovery Framework (ACRF) and its Implementation Plan.
4. The Meeting noted that the post-COVID-19 economic recovery remains vulnerable to adverse global economic developments. The Meeting expressed its deep concerns on geopolitical tension and continued risks to global food and energy security, and rising inflationary pressure.
5. The Meeting exchanged views on ASEAN’s and the UK’s approach in the Indo-Pacific. The Meeting reaffirmed its commitment to ASEAN Centrality and unity in the evolving regional architecture and reiterated the commitment to support an ASEAN-centred regional architecture that is open, transparent, inclusive and rules based, built upon ASEAN-led mechanisms to support the ASEAN Outlook on the Indo-Pacific (AOIP).
6. The Meeting noted paragraph 14 of the Chairman’s Statement of the ASEAN Post Ministerial Conference (PMC) 10+1 Sessions with the Dialogue Partners and Trilateral Meetings (Phnom Penh, Cambodia, 3-4 August 2022) and underscored the importance of multilateralism, adherence to international law, and respect for sovereignty in contributing to global and regional peace, stability, and prosperity.
7. The Meeting welcomed the growing economic cooperation between ASEAN and the UK following the establishment of the ASEAN-UK Dialogue Partnership last year. The Meeting reiterated its commitment to continue strengthening economic cooperation between ASEAN and the UK, as specified in the 2021 Joint Ministerial Declaration for Future Economic Cooperation between ASEAN and the UK (Joint Ministerial Declaration). To this end, the Meeting endorsed the Work Plan to Implement the Joint Ministerial Declaration for Future Economic Cooperation between ASEAN and the UK, and tasked ASEAN and UK Economic Officials to manage and update the Work Plan as necessary.
8. The Meeting highlighted that since the endorsement of the Joint Ministerial Declaration, the UK had provided support to ASEAN under each of the 11 priority areas. The UK has delivered 73 activities working across 23 ASEAN Sectoral Bodies. The Meeting acknowledged the importance of working together to address shared resilience, the need for free and open markets, diverse supply chains, and a deep trading relationship between the UK and ASEAN, in order to build greater supply chain resilience. The Meeting welcomed the findings of the deep dive study into the regional value chain for medical technologies, presented to the ASEAN Integration Monitoring Division in July 2022 and the Special Committee of the Whole Meeting in September 2022. Both of these activities are part of the effective implementation of Accelerated COVID-19 Economic Support (ACES) programme. The Meeting also thanked the UK for inviting the Chair of the G7 Economic Resilience Panel, Lord Mark Sedwill, to present the findings of the Panel to ASEAN Senior Economic Officials. The Meeting noted the recent publication of the UK’s Critical Minerals Strategy.
9. The Meeting noted the UK’s participation in the ASEAN Working Group on Intellectual Property Cooperation and the ASEAN Network of Intellectual Property Rights Enforcement Experts to share expertise and technical assistance to progress ASEAN priorities in combating intellectual property infringements and counterfeits, especially in the area of e-commerce trade. The Meeting further noted the UK’s participation in the ASEAN Experts Group on Competition, encouraging continued engagement with the UK’s Competition and Markets Authority following their inclusion in the ASEAN Competition Conference in December 2021 and the delivery of capacity building regarding competition policy for digital markets in August 2022.
10. The Meeting recognised the critical role of the multilateral trading system centred on the World Trade Organisation (WTO). The Meeting welcomed the successful outcomes of the Twelfth WTO Ministerial Conference (MC12) held on 12-17 June 2022 in Geneva, Switzerland. The Meeting expressed its optimism that the series of decisions made at the MC12, namely the “Geneva Package”, laid the foundations for future initiatives and has shown there is widespread commitment from members to work to enhance the WTO’s effectiveness. There was agreement that there is now the momentum, the focus, and the foundations to build on these outcomes. The WTO’s members now need to capitalise on this moment and start laying the groundwork to ensure a fruitful MC13, which will help reinvigorate the WTO and improve the trust of the global community in the multilateral trading system. The Meeting also reiterated its support for a rules-based, non-discriminatory, open, free, inclusive, equitable, and transparent multilateral trading system, with the WTO at its core, whilst also highlighting the need to reform the WTO to ensure it remains effective in its operation, fit-for-purpose and forward looking. The UK and ASEAN will work together to encourage compromise and build consensus.
11. The Meeting reiterated its commitment to promote regulatory excellence in ASEAN. The Meeting welcomed the findings of the “Adoption of International Standards in ASEAN” report by the British Standards Institute, and thanked the UK for the workshop with the ASEAN Consultative Committee on Standards and Quality (ACCSQ) and encouraged the UK’s continued participation in the group’s regular meetings. The Meeting noted the UK’s longstanding support of the ASEAN-OECD Good Regulatory Practice Network and noted the special project exploring learning from the pandemic and future opportunities for regulatory reform in the region, including through new technology such as digital consultation to improve effectiveness and simplicity of regulation to enable business growth and trade.
12. The Meeting looked forward to harnessing the Digital Innovation Partnership to drive the growth of our digital economies under three thematic pillars: Digital Economy Business Partnerships; Digital Trade Policy, Regulation and Standards, and; Digital Government Transformation and Digital Inclusion. The Meeting welcomed the ASEAN-UK Digital Dialogue, held on 8 September 2022, which helped facilitate public and private sector collaboration on digital innovation and technology.
13. The Meeting noted the UK’s significant contribution to ASEAN in tackling climate change. The Meeting welcomed British International Investment (BII) investment of up to £500 million in the Indo-Pacific and noted that it will be reviewing investment opportunities in the Philippines and Indonesia amongst others, focussing on climate finance investments. The Meeting also noted that the UK has committed up to £107 million to the ASEAN Green Catalytic Finance Facility – fulfilling one of our flagship COP26 commitments. The Meeting welcomed the delivery of the ASEAN-UK Sustainable Leadership in Infrastructure Course and noted that the course was designed specifically with ASEAN’s priorities in mind, as set out in the Master Plan on ASEAN Connectivity 2025. The Meeting also highlighted other areas of cooperation that ASEAN and the UK will continue to build on, such as financial services, women’s economic empowerment, and support to Micro, Small and Medium Enterprises (MSMEs).
14. The Meeting exchanged views with the United Kingdom-ASEAN Business Council (UKABC) and noted the briefing by the UKABC on the recent economic activities between the private sectors from the UK and ASEAN including, the ASEAN Financial Literacy Conference and the UK-ASEAN Business Forum, among others. The Meeting expressed its appreciation to the invaluable efforts by the UKABC to further improve collaboration between the private sectors between ASEAN and the UK and looked forward to continued collaboration.
15. The Meeting expressed its support for Indonesia’s G20 Presidency under the theme “Recover Together, Recover Stronger” and Thailand as host of Asia-Pacific Economic Cooperation (APEC) under the theme “Open. Connect. Balance.”. The Meeting noted that these processes provide a unique opportunity for all participating countries/economies to jointly advance the collective global and regional agenda and efforts to bring peace, prosperity and sustainable and inclusive development to all our peoples.
16. The Meeting reflected on the success of the first full year of ASEAN-UK cooperation now that the UK is an ASEAN Dialogue Partner. The Meeting highlighted the UK’s commitment to deliver impactful, tangible results through our ASEAN-UK partnership, enabling economic growth in the ASEAN region and strengthening ASEAN-UK trade ties for the benefit of our business communities and people.

The press release issued by the Department for International Trade on 7 November 2022.

• Trade Policy Minister Greg Hands heads to Taiwan for first in-person trade talks since pandemic
• During a two-day visit, he will meet President Tsai Ing-wen and co-host the 25th annual UK-Taiwan Trade Talks
• The Minister will use talks to tackle barriers to trade and promote UK expertise in areas like offshore wind and hydrogen

Trade Minister Greg Hands will co-host the UK-Taiwan 25th annual Trade Talks in Taipei to boost trade and future-proof our economy through collaboration on green trade and supply chains.

With its advanced, high-tech economy, a GDP of over $770 billion, and strong economic growth – averaging 4% over the last 30 years – Taiwan is an important trading partner for the UK.

Visiting Taiwan in person is a clear signal of the UK’s commitment to boosting UK-Taiwan trade ties. Like the UK, Taiwan is a champion of free and fair trade underpinned by a rules-based global trading system.

The talks with Deputy Minister Chern-Chyi Chen will look at tackling barriers to trade in sectors like fintech, food and drink and pharma, aimed at helping more UK firms export and invest in Taiwan. The Minister will also promote UK expertise in offshore wind, hydrogen and electric vehicles in discussions on areas of mutual interest such as renewables and science and innovation.

Minister of State for Trade Policy Greg Hands said:

“I first visited Taiwan 31 years ago in 1991 and it’s been fantastic to see the growth of this dynamic, vibrant economy. I’m thrilled to be the first Trade Minister here post-pandemic and to be celebrating the 25th anniversary of trade talks.

“Boosting trade with this vital partner is part of the UK’s post-Brexit tilt towards the Indo-Pacific and closer collaboration will help us future-proof our economy in the decades to come.”

Our thriving £8bn trade partnership has gone up 14% in the last two years, with UK exports to Taiwan also increasing in that time. The Government’s most recent annual business survey showed the overwhelming majority of UK companies operating in Taiwan are optimistic about its economy and prospects.

During the Trade Talks, Innovate UK will sign a Memorandum of Understanding (MoU) with the Ministry of Economic Affairs in Taiwan, pledging to increase collaboration on technology and innovation. This includes a £5m funding commitment through to 2025 and support to UK businesses via a bespoke Innovation Programme between the UK and Taiwan.

As a leading manufacturer of semiconductors – the chips used in electronic devices like iPhones and electric vehicles – Taiwan is a key player in global supply chains. The Minister will use meetings with President Tsai Ing-wen, Minister of Economic Affairs Wang Mei-Hua, Minister of Digital Affairs Audrey Tang, Minister Kung Ming-Hsin and Minister John Deng – to promote diversified, resilient supply chains and greater economic cooperation.

Thanks to the UK’s unmatched offshore wind experience and expertise, the UK is already a major partner in Taiwan’s green transition, with more than 38 British companies already having set up offices in Taiwan. The Minister will visit the Formosa 2 offshore wind site – the first international offshore wind project supported by UK Export Finance – which more than 10 British companies are involved in.

Luxfer Gas Cylinders, a British company based in Nottingham (UK), has just signed a contract to supply cylinders for Taiwan’s first pilot hydrogen bus project.

The press release issued by the Department for International Trade on 4 November 2022.

• Four winners revealed from across Europe
• Winners represent range of sectors, including digital health, cyber security and artificial intelligence
• All finalists to receive a personalised business development package, connecting them to the UK

The UK Government’s 2022 tech scale-ups programme, the Tech Rocketship Awards, reached its conclusion today. The Awards identified the brightest and best tech companies and will accelerate the global growth of its winners, through curated programmes connecting them with the UK’s ecosystem of investors, incubators and High Potential Opportunity (HPO) clusters.

The Grand Finale saw eight finalists battle it out in live ‘dragons den’ style pitches in front of an expert panel of judges at the residence of His Majesty’s Ambassador to Portugal, Chris Sainty. The finalists were invited to the UK pavilion at Web Summit afterwards for an awards ceremony.

The Tech Rocketship Awards Categories were: AI, 5G, Agri-Tech, Digital Health, Cybersecurity, Climate Tech and a Trailblazers Award – Diversity in Tech.

Winners:

• Gold – Digital Health – Enbiosis (Turkey): Analyses the human gut microbiome using metadata and AI to provide personalized health and wellness solutions.
• Silver – Cyber Security – Facephi (Spain): Provides secure user digital identity verification and specialises in digital onboarding and biometric authentication solutions.
• Bronze – Artificial Intelligence – Jungle AI (The Netherlands): Applies AI to increase the uptime and performance of electromechanical assets such as wind turbines, solar farms or industrial production lines.
• Trailblazers Award (Promoting Diversity in Tech) – Digital Health – Resistomap (Finland): The first end-to-end platform in the world that monitors antibiotic resistance bacteria and pre-warns clients in case of a potential outbreak.

Chris Barton, His Majesty’s Trade Commissioner for Europe said:

There is no better place for ambitious tech companies to grow than the UK. This is the number one country in Europe for Unicorns, and UK tech VC investment is the third largest in the world. Our tech sector is the home of forward-thinking innovators, venture capital, R&D clusters and opportunities for growth across the whole of the UK.

Tech Rocketships will provide the lucky winners with a rocket-powered, fully-tailored direct route to the financiers, incubators, tech-savvy customers, and all the infrastructure needed to help them make that next great leap from ambitious scale-up to unicorn.

Kenan Poleo, His Majesty’s Trade Commissioner for EECAN (Eastern Europe Central Asian Network) said:

Turkish companies responded brilliantly to the Tech Rocketship Awards. The awards offer companies in the vibrant Turkish tech ecosystem a rocket-powered, fully-tailored direct route to the financiers, incubators, tech-savvy customers, and infrastructure needed to help them make that next great leap from ambitious scale-up to unicorn.

Priya Guha, Venture Partner, Merrian Ventures & Non-Executive Director at UK Research and Innovation (UKRI) and Digital Catapult said:

I was thrilled to be part of the judging panel for this year’s Tech Rocketship Awards and to hear from some of the incredible European tech businesses that are looking to the UK to scale-up and go global.

Whilst they represented a breadth of sectors from biotech to artificial intelligence to AgriTech, all of them will find the UK a great place to scale. In the UK, we have a wealth of diverse tech talent in researchers, developers and experienced scale-up leaders. We also have an open and welcoming business environment and competitive set up costs, all of which will be invaluable to these companies. The UK is rich in opportunity for tech businesses and I look forward to seeing how the UK will be part of the success stories for these fantastic award winners.

The panel of judges was led by experienced entrepreneurs, dealmakers and representatives of government and industry:

• Priya Guha, Venture Partner, Merrian Ventures, Non-Executive Director at UK Research and Innovation (UKRI) and Digital Catapult
• Dr Mike Short CBE, Chief Scientific Adviser, Department for International Trade (DIT)
• Jude Ower MBE, Founder & CEO of Playmob, Global Entrepreneur Programme Dealmaker, DIT
• Christian Kumar, Chief Executive Officer, Capital Kinetics

More information about the next awards will soon be communicated to find the next cohort of top tech businesses. Companies can already sign up for further details.

Full details about the competition, including terms and conditions are on the Tech Rocketship Awards website.

All finalists:

• 5G – Neutroon (Spain): Open-API cloud platform that makes private LTE/5G and Neutral Host simple and scalable for operators and end-users.
• Cyber Security – Facephi (Spain): Provides secure user digital identity verification and specialises in digital onboarding and biometric authentication solutions.
• Climate Tech – Monolithos (Greece): Manufactures direct-fit aftermarket automotive catalytic converters.
• Digital Health – Enbiosis (Turkey): Analyses the human gut microbiome using metadata and AI to provide personalized health and wellness solutions.
• Artificial Intelligence – Jungle AI (The Netherlands): Applies AI to increase the uptime and performance of electromechanical assets such as wind turbines, solar farms or industrial production lines.
• AgriTech – Blue White Robotics (Israel): The ‘robots-as-a-service’ platform provides solutions for building autonomous farms.
• Cyber Security – Authenteq (Germany): Is the world’s first fully automated identity verification eKYC™ platform. Their AI-powered system allows companies and services to onboard users in just 35 seconds.
• Digital Health – Resistomap (Finland): Is the first end-to-end platform in the world that monitors antibiotic resistance bacteria and pre-warns clients in case of a potential outbreak.

The press release issued by the Department for International Trade on 3 November 2022.

On Thursday 3 November 2022, the UK and Malaysia convened the second Joint Committee on Trade and Investment Cooperation in London. The first Joint Committee meeting was hosted virtually by Malaysia in 2020.

His Majesty’s Trade Commissioner for Asia Pacific, Natalie Black CBE, co-chaired the meeting alongside Deputy Secretary General (International Trade) for the Ministry of International Trade and Industry (MITI) Malaysia, Mr Hairil Yahri Yaacob.

In recognition of the importance of the trading relationship, the meeting also formalised the intent to elevate the Joint Committee to a Ministerial led Joint Economic Trade Committee (JETCO). The new JETCO will help to promote and enhance trade, investment and economic cooperation linkages, including addressing trade barriers affecting business between the two countries. The first meeting of the UK-Malaysia JETCO is expected to be held in autumn next year.

At the meeting of the Joint Committee, the UK congratulated Malaysia on its ratification of CPTPP. The UK provided an update on their accession status and Malaysia presented on the benefits of CPTPP when it enters into force for Malaysia on November 29, 2022. The CPTPP will increase the potential for further trade between the UK and Malaysia, contributing to the shared prosperity of both countries through the creation of new opportunities for businesses and investors.

The meeting also brought together six working group co-leads to report on the progress of their bilateral cooperation in agreed priority areas. In addition, there were presentations from the UK on teacher training and on Malaysian sustainable palm oil initiatives.