Source · Select Committees · Business and Trade Committee
Recommendation 9
9
Accepted
Provide clear framework for DBT overseas teams to support priority sector export opportunities.
Recommendation
We recommend that Department for Business and Trade teams based abroad are given a clear framework, which they report to Parliament, for how they can support export opportunities for each of the growth driving sectors, in the most important UK markets accounting for 80% of UK export growth. This framework should specify (a) DBT’s estimate of potential export growth opportunity for priority sectors over the decade to come, (b) DBT staff resource on the ground (c) objectives for trade barrier removal and (d) trade promotion budget and activities. (Recommendation, Paragraph 55)
Government response summary AI-generated
The government commits to refocusing the overseas network on Industrial Strategy growth sectors, directing officials, prioritising resources, developing promotional campaigns, and empowering Ambassadors and Trade Commissioners to develop new strategic plans for supporting these sectors in major markets.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Accepted
HM Government · verbatim extract
Accepted
4.1. The Trade Strategy and the Industrial Strategy were developed together, and they will work together hand-in-glove to give UK businesses the support they need to invest and grow. 4.2. The Trade Strategy sets out an ambitious plan for reshaping the way that the UK trades and marks a reset in our approach to international trade. Building on traditional Free Trade Agreements (FTAs), this strategy is designed to stimulate economic growth, through delivery of targeted business benefits, in a rapidly changing global landscape. 4.3. Together, these strategies set out how we will provide businesses with more and better direct support to grow exports, ranging from information and guidance to commercial diplomacy tailored export finance to international marketing campaigns. This includes bringing forward legislation to increase the maximum size of UK Export Finance’s financial portfolio, and supporting UK regulators to remove barriers to businesses trading abroad, creating a dedicated new “Ricardo Fund” for this purpose. 5.1. The Industrial Strategy sets out that we will refocus the overseas network on Industrial Strategy growth driving sectors, including by: Directing overseas export and investment officials and diplomats in major markets to prioritise the IS-8, building a pipeline of high-value opportunities that significantly contribute to UK economic growth. Prioritising our resources towards the international markets which offer the greatest economic opportunity, particularly for the IS-8. Develop promotional campaigns to support the IS-8 in important markets. Putting Ambassadors in major markets and our Trade Commissioners in charge of new strategic plans to support the IS-8, with an expectation that they will develop these in partnership with UK businesses and national, regional, and local leaders.
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