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An influential Parliamentary Committee has launched an inquiry into support for exports and investment, building on an investigation last year into “Exports and the role of UKTI”.

Chairman of the International Trade Committee, Angus MacNeil, explained: “Before the Department for International Trade (DIT) was created, our colleagues on what was then the Business, Innovation and Skills (BIS) Committee did some excellent work scrutinising the role of UK Trade and Investment (UKTI).”

As UKTI has now been absorbed into the DIT, he went on, the Committee wants to find out how these new arrangements have affected its performance given that evidence was found of significant flaws in UKTI’s previous operating model.

Interested organisations or individuals are being invited to submit written evidence to the Committee by 5pm on 8 March 2017.

In particular, it will examine whether International Trade and Investment (ITI, formerly UKTI) and UK Export Finance (UKEF) have improved on their performance since the BIS Committee inquiry in 2016.

In the light of the Secretary of State’s admission that the £1 trillion export target will not be met, the Committee also wants to know if the Department’s export and investment targets are transparent, appropriate and achievable.

Evidence can be submitted through the inquiry page at www.parliament.uk.

“This is a time of great uncertainty for UK exporters of all sizes,” Mr MacNeil concluded. “It is vital that they get the right support.”

Commenting on the BEIS Committee’s report on Industrial Strategy published today (Friday), Dr Adam Marshall, Director General of the British Chambers of Commerce, said:

“A clear, ambitious mission – and the untapped potential of our towns, cities and counties – need to sit at the heart of the Industrial Strategy.

“We need to decide our top economic and social goals as a nation, and develop a strategy that allows us to deliver these missions. At the same time, we must galvanise business communities all across the UK, so every area can leverage its competitive strengths and make a strong contribution to economic growth and prosperity.

“I applaud the BEIS Committee for recognising that mission and place are crucial to the success of Industrial Strategy. Business communities across the UK will now wish to see government adopt many of these recommendations as it works to bring the industrial strategy to life.”

On the Committee’s recommendation of a fundamental review of Business Rates, where the BCC has been campaigning for radical change, Marshall added:

“Business rates hammer firms with significant, volatile, up-front costs before they turn over a single pound. They are a barrier to achieving an ambitious Industrial Strategy, because they stop many firms from investing in their own productivity and growth. The Committee’s recommendation of a fundamental review of the business rates system is one we have made for years – and it’s time for action.”

Also commenting on the Industrial Strategy, Nova Fairbank, Public Affairs Manager for the Norfolk Chamber said:

“Now is the time for the Norfolk business community to highlight the strengths and opportunities of our region.  We have a world-leading life sciences research base; advance engineering and innovation centres; a strong energy coast; and emerging ICT and digital sector;  as well as many thriving traditional sectors – thi is our opportunity to ensure that Westminster clearly understands the economic potential and growth in our ‘place’.”

Businesses can still feed into the BEIS consultation until 17 April – have your say now.

On Tuesday 28th February, over 35 delegates joined us to learn about business opportunities in Saudi Arabia at Holiday Inn Norwich. The venue provided a spacious setting where delegates were able to network over tea & coffee, followed by 3 presentations from expert speakers discussing the key areas of trade in Saudi Arabia. Norfolk Chamber’s International Trade Manager, Julie Austin welcomed delegates to the event, introducing our first speaker Chris Innes-Hopkins, UK Executive Director, Saudi British Joint Business Council.    Next up we had Eisa S Alothman, Managing Director, Project Facilitators & Services Company Ltd who covered cultural awareness for Saudi Arabia. Eisa gave an enlightening talk, reviewing the difference between gender culture.    We then took a short break and treated delegates to tea and cake to help them process the information just received.   The second half of the event resumed with a presentation from Phil Ball, Director of Trade Sales, Barclays Trade and Working Capital, Corporate Banking Origination. Phil covered the financial aspects to trading in Saudi Arabia.    Our International Trade Manager Julie also gave a short presentation on how we can help your business to expand overseas. If you would like any more information on how we can help, please visit our International Page or contact the team: T: 01603 729715 E: export@norfolkchamber.co.uk   We closed the event with a Q&A session, after which, many delegates took this opportunity to talk further with the speakers and get in some final networking to make those all-important contacts.    

View the presentation from the event below:

   

Doing Business in Saudi Arabia from Samantha Brown

A delegation from Norfolk Chamber were in attendance at the British Chambers of Commerce (BCC) Annual Conference at the QEII centre in London this week.

Following an opening speech by Francis Martin, the President of the British Chambers, a video montage from the Chief Executives from across the regional Chambers was shown.  It outlined the differences being made locally and helped to articulate how the work the Chambers do locally is collectively contributing to the national economic picture.

Unsurprisingly, Brexit was a re-occurring theme throughout the conference agenda, with the questions from the UK press and media coming in thick and fast amongst the questions from the business audience.

Director General of the BCC, Adam Marshall outlined how he saw an army of civic minded businesses driving prosperity through the process of Brexit.  And that those businesses felt that an ambitious domestic agenda mattered equally as much as any Brexit deal.  He also noted that young people place faith in the transformational power of business and will respect those businesses with civic impact, who can invest in manufacturing and innovation and technology to help support the needs driving modern day society.

One of the panel debates discussed how to grow business in the regions.  Panelists included George Osborne MP, and Andy Burnham MP, the candidate for the Mayoral election in Manchester, as well as Vincent De Rivaz, CEO of EDF Energy.  They debated Devolution, City Deals and the need to transfer power to local regions and what the outcomes of that may be.    All agreed that the regions would benefit from power becoming less centralised, but gave a warning that the real competition for the UK was from outside of our shores and there needed to be commitment from all regions to compete as one nation. 

Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, reiterated how important information and feedback from Chamber members was in providing input into the Industrial Strategy.  “There is no substitute for talking to people, the diversity of connection, challenge and opportunities means everything to those who make policy.”  He went on to invite all UK Chambers to participate in the development of sectoral groups for the Industrial Strategy, saying “local knowledge is irreplaceable and essential.”

The highlight speech of the conference came from Boris Johnson, Secretary of State for Foreign and Commonwealth Affairs.  He opened with analogies about pineapples and closed with haggis and pineapple jam!  His point being that the UK needed to reclaim globalisation.  Historically the UK is the most global of all the developed economies, with the links and friends being created over centuries of being a globally trading nation.  On the subject of the UK in relation to the EU, Mr Johnson said “the UK is the flying buttress supporting the cathedral – UK trade has raised everyone’s standards and there remains opportunities within the EU.”  He went on to say that “the UK should think global to be a safer, more successful and prosperous Great Britain.”