BExA is extremely encouraged by the new Export Strategy launched today by the Department for International Trade (DIT). The positive intent it sets for UK exports and the challenging growth targets are welcomed.
BExA welcomes Lord Maude’s announcements on a new whole-of-government approach to boosting exports, which is to be delivered via a transformed UKTI. This closely echoes the call for a joined up approach in BExA’s “6th Annual ECA Benchmarking of UK Export Finance – Whole Government Support for Exporters”.
Exporters have long required a coordinated one-stop shop to facilitate their ability to navigate the support and advice available from the many different government departments. This new announcement suggests coordination will soon become a reality and, if implemented successfully, be of significant benefit for the UK exporter community.
Along with UKTI, UK Export Finance will play a critical role in the success of this programme and is well placed to deliver increased export credit and finance support if it continues to follow up on the improvements that have been outlined in successive BExA benchmarking papers.
BExA would be pleased to see DfID included in this joined up approach to export alongside a reintroduced tied aid programme as highlighted in our submission to the recent DfID consultation.
The British Business Bank and its support for SME finance should be extended to include the provision of banking facilities direct to SMEs which is fundamental to the success of the drive to hit the UK’s ambitious export growth targets.