International

New government export strategy underlines commitment to 1tn exports by 2020

House of Lords trade minister Francis Maude has announced that the government is to take a new approach to boosting exports by focusing support on key industries the UK has a strong competitive advantage in.

The priority markets and sectors? that UK Trade and Industry (UKTI) is to focus on have not been specified in full but the creation of a Great British Food Unit to help UK food and drink brands reach foreign markets was cited as an example of the future direction of policy.

Emma Jones, founder of small business support group Enterprise Nation, said: “Small British businesses are poised to export, often from their own kitchen table and at anearly stage. Leading the way for this community and offering practical, strategic help is one of Enterprise Nation’s top priorities this year.

as a consequence we’ll be offering five global trade missions for emerging firms looking to extend their reach in 2016. The first leaves for Dublin in March and will focus on food, fashion and homewares.”

Under the new strategy, UKTI is also to to launch a new range of support products for businesses seeking to learn more about exporting including a digital platform providing expert information, support and advice.

The new government export strategywill be put into placefrom a newly redesigned UKTI HQ and supported by 12 new trade envoys championing trade with high-growth and emerging markets including Ghana and Taiwan.

This latest announcement follows the publication in December of detailed plans for increasing the value of UK exports to 1tn by 2020.