On 28 January the Trade Secretary appointed a new ‘global growth team’ of UK Trade Envoys to boost UK exports and investment.
This initiative is part of the Government’s Plan for Change, aimed at driving economic growth through all available means.
Business and Trade Secretary Jonathan Reynolds announced that 32 parliamentarians, representing various political backgrounds, will be responsible for driving UK exports and investment in their designated target markets.
They have been assigned target markets across six continents to identify trade and investment opportunities for businesses and promote the UK as a prime investment destination.
Each market presents significant potential for UK trade growth. Trade Envoys are appointed based on their abilities, relevant skills, and experience, which can include market or sector knowledge, government-to-government experience, and a commitment to the UK’s growth mission.
They will collaborate closely with the Department for Business and Trade. This announcement precedes the upcoming Trade Strategy in Spring, which will focus on rebuilding our relationship with the EU and accessing new markets worldwide.
In addition to enhancing exports, attracting investments, and eliminating trade barriers, the government is also resuming trade negotiations with FTA partners, including the GCC, Switzerland, and South Korea.
Notably among the 32 assigned roles are:
- Former Exports Minister Afzal Khan as Trade Envoy to Türkiye
- Dan Carden continuing in his role for Mexico
- Lord Tom Watson of Wyre Forest as Trade Envoy to South Korea
A full list can be found in the Government’s announcement here.
Secretary of State for Business and Trade, Jonathan Reynolds has said:
“Trade and investment are key to delivering economic growth, the number one mission of this Government and a key part of our Plan for Change.
That’s why I’ve launched a new team of Trade Envoys, who will use their experience, expertise and knowledge to unlock new markets around the world for British businesses, drumming up investment into the UK and ultimately driving economic growth.”
The vital role of expert accounting advice for UK-based businesses expanding internationally and foreign businesses entering the UK
The opportunity for new markets for UK businesses, and for foreign investors to expand into the UK will need to be facilitated by guidance from specialised accountants.
At Reanda, we can support your international endeavours by:
- Guiding on compliance and planning with unfamiliar tax laws
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These services help businesses navigate the complexities of international operations, optimise financial performance, and achieve sustainable growth in the global market.
Get in touch if you are considering expanding your business overseas.