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LONG-TERM EXPORTS STRATEGY NEEDED FOR POST-BREXIT BRITAIN – CBI

 

LONG-TERM EXPORTS STRATEGY NEEDED FOR POST-BREXIT BRITAIN – CBI

Deputy British Ambassadors should be responsible for flying trade flag

A long-term, cross-government strategy, rather than short-term initiatives and campaigns, is the best way for the UK to export more and be a leading trading nation post-Brexit, according to a new CBI report.

Winning Worldwide, published ahead of the Department for International Trade’s (DIT) new Export Strategy, sets out a raft of practical proposals for the Government to take to support exporters, increase the number of firms selling their goods and services overseas and help British businesses to be more internationally minded.

CBI analysis has shown that the more firms export, the more competitive, productive and innovative they are. Yet, despite exporters generating 30.5% of the UK’s GDP and the high profile of the British brand, less than 10% of firms actually export and the country’s export performance has declined continually for 20 years, with competitors such as Germany far outperforming the UK in the last decade. Among other measures to remedy this, the UK’s largest business group is proposing:

• Deputy Heads of Mission in British Embassies be given new responsibilities for trade and export promotion in countries across the globe
• A high-profile business person be appointed HM Chief Trade Ambassador to champion exports. More UK trade missions should also be led overseas, with a greater focus on individual sectors and countries
• The Department for Education and business jointly review the teaching of foreign languages in schools, and the Mandarin Excellence programme and a similar programme for Arabic is expanded
• A combined industrial strategy and exports strategy with greater joined-up collaboration between the Department for Business (BEIS) and DIT.

Ben Digby, CBI International Director, said:

“Rarely has the demand for Brand Britain been so high. From cars to consultancies, and fashion to FinTech, the quality and instant recognisability of UK plc products and services is a tremendous national asset.

“We have a fantastic base on which to build a lasting and durable exports strategy that will ultimately lead to many more of our world class companies selling their goods and services around the globe. And all at the very moment the UK is busy looking to deepen trade ties in every corner of the globe, post-Brexit.

“This is a marathon, not a sprint though. To succeed where others have stumbled, the Government must take a long-term approach to exports that sticks, instead of headline grabbing short-term initiatives. First, by starting at home – twinning industrial and export strategies and ensuring employees are more globally minded. Then, by focusing on delivery as much as strategy, with every department asking: what can we do to spur trade?

“DIT can play a vital role in coordinating that effort across Whitehall. And by bolstering the support on offer through our Embassies, we can boost the number of firms exporting and providing strong competition on the global trading stage.

“Ultimately, it is businesses that trade though, not the Government. As firms look forward to the Government’s Export Strategy, their needs must remain at the heart of the UK’s approach to trade, as we both seek to create a truly global Britain.”

Other key recommendations in Winning Worldwide include:

• A cross-Government Export Strategy Council to join up different policy strands, led by officials from DIT, BEIS, the Foreign and Commonwealth Office, and the Departments for International Development, Transport and the Environment
• An analysis of freight movement to ensure the UK’s transport network is future-proofed for the movement of goods
• A simple guide to finance options for small and medium-size enterprises (SMEs) produced by UK Export Finance
• Firms should identify opportunities for British suppliers within their supply chains, and be champions for exporting by supporting smaller firms, practically and by sharing their expertise, in taking their first exporting steps
• An expansion of existing initiatives such as the Joint Economic and Trade Cooperation (JETCO) and Economic & Financial Dialogue (EFD) programmes to cover a wider range of countries.

The report also looks at steps firms can take to increase exports to key markets, such as China, India and the USA, from engaging local advisors with deep knowledge of the local regulations, business environment and culture, to making greater use of local chambers of commerce and economic development agencies.

Download CBI_Exports_report

CBI DG Carolyn Fairbairn: Evidence not ideology: Why a Customs Union is best for Britain

Dear Members & Strategic Partners,

Please find attached below a press release of CBI Director General Carolyn Fairbairn's keynote speech to be delivered today at the University of Warwick.

Many thanks

China Direct

Download Carolyn Fairbairn Director general CBI - University of Warwick speech press release

China's Golden week proves to be golden for UK retailers

A week-long national holiday in China is providing a much-needed boost for the entertainment and retail industry in London, with Chinese tourists taking advantage of the dip in exchange rates. China's National Day Golden Week holiday is arguably one of the biggest events in the consumer calendar.

Now halfway through its duration, the spending power of 1.4 billion Chinese has been unleashed on the world's entertainment and tourism industries. London, in which the Brexit-weakened pound has proved a boon for international visitors looking for a better deal, has already been enjoying a bumper week.

The Hippodrome Casino, located near tourist hotspot Leicester Square, has said that the U.K.'s capital could see up to 300,000 more Chinese visitors this week. This is a marked increase on the 54,000 Chinese visitors to the U.K. in the first quarter of 2017, a figure which was already up 27 percent year-on-year.

Please read more here.

UK Trade Secretary looks to 'new golden era of Sino-UK business'

 

Secretary of State for International Trade, The Rt Hon Liam Fox MP, made his remarks at the recent CBI China New Year Dinner held in London on 02 February 2017.

For a summary of his comments please refer to the link below.

http://www.chinadaily.com.cn/world/2017-02/05/content_28108109.htm

CBI Podcast - China & UK - 2016 a year to remember

 

Dear CBI Members and partners,

Kindly find a recent blog update highlighting recent CBI activities in China and a review of UK-China Activities in early 2017.

With Seasons greetings to you all. Thank you

https://audioboom.com/posts/5412545-a-year-to-remember-in-china

 

 

China's top diplomat to visit Britain 19-21 Dec

 

China's top diplomat will visit Britain this week for regular talks and a meeting with Prime Minister Theresa May, China's Foreign Ministry said on Monday, amid uncertainty about the process of Britain leaving the European Union.

Britain has been a popular choice for Chinese investment, with many firms seeing it as a springboard for the far larger European Union market. But those plans could be at risk with the concerns surrounding what kind of market access Britain will get in future, given its vote in June to leave the EU.

State Councillor Yang Jiechi, who outranks the foreign minister, will be in Britain from Monday to Wednesday for a regular dialogue on strategic issues, ministry spokeswoman Hua Chunying told a daily news briefing.

He will also meet British Foreign Secretary Boris Johnson, and talk about a range of issues, not just Sino-British ties, Hua said, adding she could not predict whether Brexit would directly come up. "But China's position on this is very clear. Brexit is an issue for Britain and the EU. We hope that they can appropriately handle the issue via talks and consultation," Hua said. "For China, we believe that Britain is a great country with important international influence. We hope to work hard with Britain to further promote the development of relations."

Diplomatic sources say China has been seeking clarity from Britain about its Brexit plans, nervous about what it means for Chinese companies in particular.

May has said she will trigger Article 50 of the Lisbon Treaty, the formal process of leaving the EU, by the end of March to start two-year exit talks. However, her plans for those negotiations have been shrouded in secrecy and businesses and investors fear Britain might seek a "hard Brexit", where controlling immigration takes priority over access to the European single market.

Please find the article here.

CBI Director General - Government must act with urgency to minimize uncertainty for business

CBI Director-General, Carolyn Fairbairn, has laid out businesses’ priorities following the outcome of the EU referendum, in an article for The Times today (Monday 27 June).

While the majority of businesses did not want to leave the European Union, Carolyn writes that business leaders are determined to work with Government to create the right conditions and face the upcoming challenges with confidence and resilience to achieve the best possible outcomes for the country. 

The CBI is also writing to the Prime Minister, the Department for Business, Innovation and Skills and the Treasury outlining companies’ top priorities to minimise the uncertainties which could affect the UK’s future economic growth and prosperity.

On the outcome of the EU referendum, Carolyn said:

“The British people have spoken in an explosive referendum result which will define the fortunes of the United Kingdom for generations to come.

“The impact cannot be underestimated and will take time to understand. Many people, including the UK’s thousands of businesses, are asking what this means for them and the people who depend on them. What we need is a plan.

“The government must act with urgency to minimize the uncertainties that affect investment decisions and slow job creation.”

On priorities for business post-EU referendum, Carolyn said:

“The first part of the plan must be to get strong, calm and decisive leadership in place as soon as possible. Never has there been a more important time to put the interests of the country ahead of party politics. Businesses welcome the Prime Minister’s announcement of a delay in triggering Article 50 to create breathing space, but need rapid clarity on who is making the decisions.

“Second, we must agree the principles that should underpin our new relationship with Europe and the rest of the world. At the highest level, the government should resolve publicly to preserve the openness of the UK’s economy, one of its greatest strengths.

“This means seeking to protect tariff and barrier-free access to the Single Market, ensuring companies are able to continue to attract the best people to the UK with the skills we need, while recognising public concerns about immigration.  And, it means setting out clearly how the UK will agree the right international trade deals with the wider world. 

“The third action we must take is to forge close and deep collaboration between business of all sizes across the UK and the government to help shape our future economic relationships. The CBI and business leaders across the UK stand ready to work with the new leaders of our country to help chart the future course, starting as soon as practically possible.”   

On working with the government, Carolyn said:

“Business Secretary Sajid Javid has communicated his intent to start this planning process with business and community leaders across the UK and we welcome this.

“There is one other action that needs to be taken immediately. The government should remove uncertainties over the long term right to stay in the UK for those already working here as soon as possible. We welcome the steps the new Mayor of London, Sadiq Khan, has taken to give this reassurance.

“No one pretends this transition will be easy or that the change will be pain free. But now is the time for businesses across Britain to come together in partnership with government and communities to turn the will of the British people into a new set of world relationships that benefit everyone.

“At the CBI, we will continue to work in the spirit of partnership to lead the voice of business in these vital decisions.  We are committed to securing the best possible future for our country for generations to come.”

27 June 2016

Notes to Editors:

Across the UK, the CBI speaks on behalf of 190,000 businesses of all sizes and sectors. The CBI’s corporate members together employ nearly 7 million people, about one third of private sector-employees. With offices in the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

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