An update for Made in Britain members, provided by the Department for International Trade (DIT), on how to use a UK trade agreement.
Made in Britain’s advisor on international trade, George Middleton, represents Made in Britain on DIT’s Trade Advisory Group for British manufactured and consumer goods. The group provides expertise to support the UK’s trade negotiators.
What is a trade agreement?
Trade agreements are made between two or more countries and set out the preferential rules for buying or selling goods or services between them. They reduce trade restrictions, making buying and selling more straightforward and cheaper.
Sign up to receive UK government email updates about trade agreements.
How many trade agreements does the UK have?
The UK has signed more than 70 trade agreements and most of these can be used by businesses right now.
The UK is also in the process of negotiating new or updated agreements with countries including Canada, Mexico, Israel, India, and trading blocs the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Gulf Cooperation Council (GCC).
Check the list of current UK trade agreements to find out if there is an agreement with the country your business is selling to or buying from.
DIT's market guides also provide information about doing business with countries across the world, including those the UK has recently signed trade agreements with:
Australia
New Zealand
Japan
Singapore
How can trade agreements benefit my business?
Trade agreements aim to make it easier and cheaper to do business overseas in a number of ways. These may include:
- lower or removed tariffs
- better investment opportunities
- improved market access
- enhanced protections for businesses in areas such as data protection and intellectual property
These benefits will differ depending on what was agreed with the partner country during the negotiating process. Visit gov.uk to find out about the benefits of a specific agreement.
For more information on exporting, including on how your company can use a trade agreement, please visit the DIT website, or contact Made in Britain via email: trade@madeinbritain.org.
By Made in Britain 1 year ago | By Made in Britain