A new online tool has launched this month, which will make it easier for small and medium-sized enterprises (SMEs) to trade around the world.
The Department for International Trade (DIT) introduced the online platform, stating that the service would empower British businesses to “knock down” barriers to international trade and investment.
But how does it work?
The online form allows businesses to “report a barrier” that is “stopping or hindering” their operations overseas.
This may include:
- Needless or unnecessarily complicated administrative hurdles
- Legal barriers
- Labelling and licensing restrictions
- Out-of-date regulations
Once submitted, the Government will go ahead and dispatch a “global trade expert” to assess the trade barrier and work with international regulators to resolve the issue.
According to recent research, removing just half of these trade barriers around the world would increase the G20’s exports by 20 per cent.
A recent example includes lifting the ban on British beef and lamb exports to Japan in January 2019, allowing exports worth an estimated £130 million over the next five years.
Commenting on the new service, International Trade Secretary, Liz Truss said: “Opening up new markets for British businesses is a top priority and the Department for International Trade has 1,000 people located around the world to help create more opportunities than ever before.
“In the last 12 months, we’ve secured wins to sell beef to Japan, langoustines to China and pork to Taiwan – just to name a few.”
Ms Truss added: “I urge businesses to make full use of our new market access tool, which will help us to rapidly identify and knockdown unnecessary trade barriers.”
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