Trade barriers removed to boost business
The press released from the Department of International Trade (DIT) claims that during the 2019-20 FY period, the department helped to remove over 175 barriers to trade across 61 countries.
Some of the barriers include unnecessary, legal, regulatory, or administrative requirements. This includes labelling restrictions, out-of-date regulations, and licensing requirements.
The UK's Government analysis says that liberalising market access barriers could boost British exports by £75bn per year.
Some of the barriers the government claims has helped lifted over the past year include:
Lifting of beef and lamb export ban to Japan which is worth an estimated £127 million over the first five years of access – approximately £75 million for beef and £52 million for lamb.
Working with the Brazilian Government to make it easier for British fisherman to export products to Brazil, including Salmon.
Removing the strict labelling rules on products to the UAE has allowed sports nutrition company, Grenade, to export to the UK’s largest export market in the Middle East.
Overseas sales account for 20% of Grenade’s annual turnover, and online sales are up by 294%, as the company experiences its best year of e-commerce sales to date, having already surpassed 2019 sales. Highlighting the opportunities available to UK businesses in new markets.
If you are an UK businesses who is facing trade barriers which are affecting your ability to grow globally, you can report your barrier here
For more information on this Press Release, please visit the UK Gov website here