The Department for International Trade (DIT) helps businesses export and grow into global markets as well as, helping oversees companies locating and growing the UK.
Every year, the Department of International Trade helps thousands of businesses get set–up in the UK, continuing to attract a vast array of companies, covering a range of sectors from around the world because of its many benefits.
The world’s fifth largest economy: One of the most globalised economies, with low corporation tax, leading in innovation and talent from the world’s top universities.
Benefit from low business costs: businesses can take advantage of low corporation tax by paying the lowest in the G20 and receive tax relief of up to 230% for research and development cost.
Access a highly skilled workforce: Businesses can make good of the pioneering and refined workforce, home to three of the best five universities in the world for preclinical, clinical and health subjects, and two of the top three universities for life sciences
Build on our innovation: Reap the rewards of a country that is ranked in the top five on the Global Innovation Index.
Home of the life sciences and healthcare innovation, suppling well evidenced technologies, products, services, and solutions – offering globally unique biomedical ecosystem matched with powerful research data and the scale of our National Health Service (NHS).
Technology businesses are at the heart of the economy, making cities greener and underpinning the financial, health, manufacturing and mobility sectors. With one of the world’s largest technology ecosystem, constructed of thousands of tech start–ups, built around a strong entrepreneurial culture.
The UK has the highest productivity of major European car producers, a world-leading motorsport sector, and a huge range of specialist engineering consultancies, putting it at the cutting edge of the automotive industry.
The Government’s long-term plan to boost the productivity and earning power of people throughout the UK was officially unveiled in its Industrial Strategy: building a Britain fit for the future. One year following publication, the Government reported on its achievements, including specific examples from the Thames Valley:
The Thames Valley Chamber of Commerce facilitated Life Sciences partnership, chaired by Bayer
Centrica’s Hive Link, a new smart home service designed to recognise unusual activity or changes in a loved one’s routine – all to help meet the needs of an ageing society
Vodafone’s V-SOS wristband, which improves care through technology, by detecting when someone wearing the device falls
Across five foundations for a transformed economy and four Grand Challenges (Artificial Intelligence and Data; Clean Growth; Future Mobility and Ageing Society), the Government aims to put the UK at the forefront of industries of the future. It also seeks to not just lead the world in the fourth industrial revolution, but to ensure that every part of our country powers that success.
Building long-term strategic partnerships
With 76,000 new jobs created by foreign direct investment since the inception of the Industrial Strategy, partnerships between government and business on sector-specific issues can create significant opportunities to boost employment, innovation, productivity and skills.
Key UK industries are already working with Government to agree Sector Deals, which call for robust and trailblazing proposals that will transform productivity in the particular field. In collaboration with leadership in the sector, several have already been published, including those for Life Sciences, Aerospace, Automotive and Artificial Intelligence.
The UK is strengthening its economic partnerships with African nations, as part of a Government drive to ensure the continent’s growing demand for investment is met by the UK’s expertise and innovation.
Programmes from the Department for International Development (DFID) and the Department for International Trade (DIT) will boost clean energy supplies, digital networks, and jobs and business opportunities for women, as well as improving trade infrastructure.
Africa has 8 of the world’s 15 fastest growing economies and there is huge demand on the continent for clean, sustainable and innovative investment. As home to some of the world’s most enterprising technologies and the financial centre of the world in the City of London, the UK is perfectly placed to meet that demand and be the continent’s investment partner of choice.
Read more, HERE.
The UK and Indonesia have agreed to begin a round of exploratory trade talks. Trade officials from both countries will meet in December to begin the review, which will allow nations to explore the opportunities to increase trade and investment in each other’s countries. Indonesia is one of the world’s fastest growing economies, a member of the G20 and the largest economy in South East Asia, predicted to be one of the top five global economies by 2050. The review will help to identify priority sectors to advance trading relationships and the possibility of lowering or eliminating trade barriers.
This Joint Trade Review comes off the back of previously held reviews with India and Brazil, as well as an ongoing review with China.
Read more, HERE.
International Trade Minister Graham Stuart MP is travelling to the Chinese capital, Beijing to encourage the already booming trade relationship between the UK and China, future proofing the UK post-Brexit.
The Minister will meet with key representatives from the Chinese government based in the Ministry of Commerce and other officials at the Chinese National Development and Reform Commission (NRDC) with the aim of promoting a strong UK-China economic relationship, whilst also advocating the benefits of British business in the region. In addition to this, he will meet with potential investors, host roundtables with Chinese life sciences, education, infrastructure and financial services businesses, so as to advertise the strengths of the UK as an investment destination for Chinese companies.
Read more, HERE.
The UK has launched a £20 million programme to help Brazilian SMEs trade with the UK and other countries. The programme will work alongside existing export promotion and trade facilitation schemes across Brazil that help to bring businesses of all sizes into the international markets.
As the UK prepares to leave the EU at the end of October 2019, fast-growing markets like Brazil, also the largest economy in South America, will provide significant opportunities for both UK businesses and households. In addition to this, working with a wide range of Brazilian business will allow companies to showcase exporting as another source of income, increasing access to capital, generating jobs in the country and ultimately reducing poverty.
Read more HERE.