International Trade September Briefing
TRADE
UK-Ukraine Digital Trade Agreement
The UK-Ukraine Digital Trade Agreement (DTA) entered into force on 1 July 2024 following the UK and Ukraine’s completion of their respective domestic ratification processes. The agreement modernises the UK-Ukraine Free Trade Agreement in relation to digital trade. Digital trade presents huge opportunities for both Ukraine and the UK. It offers opportunities to revolutionise how goods and services are delivered across almost every sector of the economy. It can deliver growth and jobs in not only the finance and professional business services sectors, but also across retail, health, education, engineering, agriculture, manufacturing, creative industries, and many more.
GLOBAL TRADE
UK joins global digital trade agreement
UK joins the first global digital trade agreement negotiated under the World Trade Organisation. UK along with 90 other countries have finalised the E-Commerce Joint Initiative at the World Trade Organization (WTO), which will make trade faster, cheaper, fairer and more secure. It will help British businesses, workers and consumers seize the opportunities of global digital trade, which is estimated by the OECD to be worth around £4 trillion and growing. Once implemented, the agreement will commit all participants to the digitalisation of customs documents and processes. This will in many cases end the need to print forms off and hand them over at customs – a slow, expensive and old-fashioned way of working.
UK to join CPTPP by 15 December
Ministers announced that the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will take effect on or by Sunday 15 December, meaning traders can use the Agreement’s trade preferences between the UK and ratifying states from this date.
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 aim of Suffolk Chamber International Trade Group (SCITG) is to share experiences to support international trade and make sure Suffolk businesses continue to grow and thrive. As well as hearing from policy and thought leaders. The meeting was run under Chatham House rules which allowed for an open and frank discussion.
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
Chamber Member Benefit
Chamber Foreign Exchange
Navigate the complexities of global trade with Chamber FX, in partnership with MoneyCorp. Chamber FX enables you to manage your currency exposure and payment needs quickly, easily and hassle-free.
Key Benefits:
- Dedicated account manager and daily market updates to keep you across the latest economic developments.
- All relevant client funds are segregated in accordance with the Payment Services Regulations 2017, part of the FCA’s safeguarding guidance to ensure the security of client funds.
- Access to 120+ currencies.
- Make payments and manage beneficiaries 24/7 using Moneycorp’s online platform, or speak to a member of their friendly team on the phone Monday-Friday, 07:30-18:00 BST.
- Access to a comprehensive suite of FX risk management products, and payment solution tools including plug-and-play APIs and Bulk Payment technology.
- No additional fees on FX trades.
Events
UK tech mission to Hong Kong
📅 21st – 25th October
Tech founders looking to enter the Asia Pacific market. Global Tech Advocates and The British Chamber of Commerce in Hong Kong are organising a Tech Founder delegation to Hong Kong. Network with your Tech Founder peers, meet investors, prospects and partners, and tour Hong Kong’s exciting tech cluster hubs. Please share with your members as relevant. Find out more
Thames Valley Chamber – Trading with Japan Webinar
📅 Wednesday 25th September
9:30am BST
Online
As part of the UK Chamber of Commerce Expo 2025, Osaka programme, this webinar, in partnership with the British Chamber of Commerce in Japan, will highlight wealth of trade opportunities available to UK businesses in the Japanese market.
Japan is currently the UK’s 14th largest market, with 2023 UK-Japan trade valued at £27.6 million.
As the world’s 3rd third largest economy, Japan with the stability of its market, its large, wealthy, and highly educated consumer base, and the good business ethics of Japanese companies make it an attractive trading market for UK businesses.
This webinar will provide delegates with:
- A brief overview on trading with Japan.
- Opportunities open to UK Business
- A UK traders prospective.
- information on Expo 2025, Osaka, Japan
Training
Suffolk Chamber Innovation Skills Hub: Empowering Your Workforce for the Future
Welcome to the Suffolk Chamber Innovation Skills Hub, where we equip your business with the essential tools to empower, upskill, and reskill your team for a successful future. Our mission is to enhance individual capabilities and improve organisational performance, ensuring your business stays ahead in an ever-evolving industry landscape
Introduction To International Trade Training Course
📅 Monday 4th – Thursday 7th November
10:00 –16:00 BST
Venue: TBC
Delivered by the Suffolk Chamber Innovation Skills Hub, this IOEE Accredited course will provide you with the basic knowledge and understanding of the key principles involved when trading internationally.
International trade is a growing and challenging market that can bring many advantages from increased revenues to better risk management. It is known that companies that export see a 34% increase in productivity and have an 11% higher chance of survival.
This training workshop is both informative and interactive, providing a clear understanding of the processes, procedures, and practicalities of international trade. Register
Preferential Rules of Origin - Training Course - BCC Accredited
📅 Thursday 17th September
9:30 –15:30 BST
Online
Demystify the complex Rules of Origin and gain an essential understanding of applicable import duties on the countries where your imported products are made – this is a full day training course which can benefit both importer and exporter alike.
This Rules of Origin training course will provide delegates with a thorough understanding of the rules which govern origin, thereby ensuring that your goods are not detained nor delayed at Customs borders due to incorrect declaration of origin. This course will be beneficial to any personnel preparing export or import documentation, dealing with customer queries or gathering of origin evidence. Register
Customs Procedures & Documentation - Training Course - BCC Accredited
📅 Wednesday 25th September
9:30 –15:30 BST
Online
Exporters completing the right forms at the right time can benefit from smoother customs clearance and achieve an increase in profits.
This course is suitable for people new to international business as well as experienced companies who may want to refresh their knowledge. Register
Trade Commodity Codes - Training Course - BCC Accredited
📅 Tuesday 8th October
9:30 –12:30 BST
Online
Understanding and application of commodity and tariff codes is fundamental for customs compliance. Identifying and using the right codes is important for establishing duty rates, origin of goods, reporting for Intrastat, export and import documentation and many additional customs procedures.
Commodity codes classify your goods so that export/import declarations can be completed. They are used to check if there's duty or VAT to pay and find out about duty reliefs. Register
UK Export Academy
Top Tips for Understanding VAT in Europe
📅 Monday 16rd September
10:00am –11:00am BST
Online
This webinar will enable businesses to confidently export to Europe by demystifying the most common VAT implications for them and their customers. Sonja will explain what steps, procedures, and requirements companies should follow to be tax compliant when exporting, physically and digitally, goods and/or services, to Europe. Register
How to Promote your Brand in the Gulf region (GCC)
📅 Thursday 19th September
10:00am –11:00am BST
Online
Join us for an insightful webinar on ‘How to Promote your Brand in the GCC’. This event is designed to equip you with essential strategies to enhance your brand’s presence in the Gulf region. Register
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Suffolk Chamber