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International Trade Briefing - January 2025

GLOBAL TRADE

The UK and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership)

The UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) offers significant benefits to Suffolk businesses, opening up new trade opportunities and expanding market access. The CPTPP, a free trade bloc with 11 countries across the Pacific region, including Japan, Canada, Australia, and Singapore, allows Suffolk businesses to access these rapidly growing economies.

Key benefits for Suffolk businesses include:

  1. Reduced Tariffs: Businesses exporting goods like agricultural products, machinery, and food can benefit from lower tariffs in key markets.
  2. Improved Trade Relationships: Enhanced trade relations with CPTPP members provide opportunities to build partnerships, diversify export destinations, and boost supply chains.
  3. Access to Services and Investment: Suffolk service industries, such as finance, technology, and professional services, can tap into new markets with fewer barriers and greater access to investment.
  4. Increased Competitiveness: With more favourable trade terms, Suffolk businesses can compete more effectively in the global market, especially in sectors like manufacturing, tech, and agriculture.

Overall, Suffolk businesses can look forward to greater international growth prospects, increased trade efficiency, and the ability to access high-demand sectors in dynamic economies.

 

MoU between UK and India on health and life sciences

The Memorandum of Understanding (MOU) between the UK and India on health and life sciences aims to strengthen collaboration between the two countries in areas such as medical research, innovation, and healthcare technology. This partnership will focus on shared challenges and opportunities in public health, as well as advancing life sciences industries through joint research and development projects.

For Suffolk businesses, this MOU presents significant opportunities to engage in the growing health and life sciences sectors, particularly in areas like biotechnology, pharmaceuticals, and healthcare solutions. Local companies could benefit from increased access to the Indian market, potential collaborations with Indian firms, and involvement in cutting-edge research projects. The agreement could also attract investment and drive innovation, fostering economic growth and job creation in Suffolk’s health and life sciences industries. Further details on the MoU can be found here

 

Safety and Security Declaration requirements

From 31 January 2025, businesses importing goods from the EU to Great Britain will be required to submit a safety and security declaration. This declaration is part of the UK's commitment to enhancing border security and ensuring the safe movement of goods. Importers will need to provide information about the goods being transported, including details on their origin and destination, to meet the new regulatory requirements. It's important for businesses to prepare for this change to avoid potential delays or penalties at the border. Government guidance is available to help firms meet these requirements.

 

BCC’s International Trade Manifesto – UK-EU TCA four years on

BCC launched TCA Four Years On: A Manifesto to Reset UK-EU Trade. TCA Four Years On: A Manifesto to Reset UK-EU Trade" is a proposal outlining recommendations for improving trade relations between the UK and the EU, four years after the implementation of the Trade and Cooperation Agreement (TCA). The manifesto highlights areas where trade has been hindered by regulatory challenges, customs procedures, and other barriers. It calls for a review and renegotiation of aspects of the TCA to streamline processes, reduce friction, and foster closer economic ties. The goal is to create a more efficient and mutually beneficial trading environment for businesses on both sides of the Channel. This report recommends 14 priorities for the reset of UK-EU trade and economic links in 2025, plus BCC’s latest research from over 1,300 UK firms trading internationally. Click here to read the full report. The Minister for Trade, Douglas Alexander MP opened a recent roundtable by saying he had read the report and that officials were reviewing its recommendations.

 

BCC’s Trade and Investment: Getting Delivery Right for the UK Economy Paper.

The British Chambers of Commerce (BCC) has published its latest policy paper titled "Trade and Investment: Getting Delivery Right for the UK Economy", produced by the BCC Global Britain Challenge Group. The paper outlines key recommendations for improving the UK’s trade and investment framework to drive economic growth. It focuses on the importance of reducing trade barriers, enhancing international partnerships, and ensuring effective delivery of government trade policies. The paper aims to support UK businesses in navigating global markets, boosting exports, and attracting international investment to strengthen the UK economy. Click here to read the full report.

 

Trade and Investment factsheets

The most up to date snapshot of the UK’s trade and investment positions with trading partners overseas. These factsheets summarise the latest statistics on trade and investment between the UK and individual overseas partners. Trade statistics inform how we meet the challenges of trade policy and promotion in the UK.

 

The factsheets provide statistics between the UK and its partners on:

  • exports, imports, and total trade
  • trade by commodity and service type
  • regional trade in the UK for goods
  • UK market share for trading partners
  • VAT-registered businesses trading goods
  • foreign direct investment (FDI)
  • summary trade and investment data as reported by each partner
  • economic data and projections

 

Suffolk Chamber International Trade Group (SCITG)

The SCITG is a forum for sharing best practice, hearing from local and national policymakers and thought leaders to enhance knowledge and capabilities in developing international trading activities.
For further details on the group or if you would like to be part of the SCITG, please contact the international team on international@suffolkchamber.co.uk

 

New Member Benefit:

Suffolk Chamber Teams Up with Cory Brothers to Offer Free Logistics “Supply Chain Review” Service

Suffolk Chamber of Commerce, in collaboration with Chamber Patron Cory Brothers, is delighted to announce an exclusive new member benefit: a free, tailored supply chain review service.

This unique service is designed to help Suffolk businesses streamline their international trade operations by identifying cost savings, ensuring compliance, and improving efficiency. The partnership aims to empower local companies to navigate global markets with confidence.

Qualifying businesses will receive a personalised consultation from Cory Brothers’ highly experienced supply chain experts who will provide actionable insights to help businesses succeed internationally.

Key areas of focus include:

  • Customs Clearance & Tax Compliance: Ensuring accuracy in procedures and avoiding costly delays or penalties.
  • Freight Optimisation: Analysing transit times and routes to ensure cost-effective and efficient international logistics solutions.
  • Documentation Review: Identifying gaps in compliance and helping businesses meet complex international trade requirements.

 

Events

 

BCC Driving International Trade Conference 20 March 2025

 

On Thursday 20 March 2025, BCC will be hosting their inaugural Driving International Trade Conference in Central London. This exclusive event is designed for C-suite leaders who are focused on expanding their international reach and navigating the complexities of global trade.

Event Highlights

The event will feature key panel discussions, fireside chats, keynote addresses and breakout sessions. Highlights include:

Unlock Lucrative Opportunities in Key Strategic Markets

Target high-growth sectors where businesses can gain a competitive edge:

  • United States – Capitalise on cutting-edge Pharmaceutical Innovations
  • Germany – Lead the way in Automation and Robotics
  • India – Drive progress in Digital Infrastructure
  • Turkey – Harness potential in Renewable Energy and Construction

Future-proof your business by tapping into strategic trade corridors, including:

  • UK to Gulf Cooperation Council (GCC) – Invest in infrastructure and renewable energy opportunities
  • UK to East Africa – Leverage growth in telecom and agri-tech sectors
  • UK to Southeast Asia – Drive digital finance and smart city innovations
  • UK to Eastern Europe/Balkans – Expand in energy, infrastructure, and tech markets

Don’t miss this invaluable platform for C-suite executives to network, gain insights, and explore new avenues for growth. Discover how to navigate the complexities of global trade, understand regulatory environments, and forge partnerships that can propel your company into new international territories.

Join us and be part of the conversation that shapes the future of international trade.

Secure Your Spot Now - Priority Application Form: Driving International Trade Conference 2025 - British Chambers of Commerce

 

Made in the UK, Sold to the World Awards 

 

Organised by the Department for Business and Trade (DBT) and with 12 sector-focused categories, these awards recognise and celebrate the success of UK SMEs trading internationally. Please share with your member businesses as relevant.

The Made in the UK, Sold to the World Awards 2025 is a prestigious event organised by the Department for Business and Trade (DBT), designed to recognise and celebrate the success of UK SMEs in international trade. The awards highlight the achievements of businesses across 12 sector-focused categories, showcasing their growth, innovation, and impact in global markets. Open to UK businesses that have demonstrated excellence in exporting, the awards aim to inspire others to expand internationally and drive economic growth through global trade. You can enter by sharing your trade success story here.

Entries close at 11:59 (UK time) on Sunday 9 March

Click here to see the 2024 winners

Training

Find out more about the International Trade Training Courses 

About the author

Suffolk Chamber

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