Minister for Trade Baroness Fairhead has opened Barclays’ new trade centre which will help over 1000 UK businesses export more of their goods and services every year.
Staffed by 30 export and trade product specialists, the new centre will work to boost jobs and economic growth, enabling British businesses to start exporting sooner or sell more to overseas markets.
The news comes as the government sets out its ambition to raise exports as a percentage of GDP from 30 to 35%.
A raft of measures which includes the rollout of thousands of export champions, increasing awareness of the £50bn of finance available from UK Export Finance, and boosting the number of export opportunities listed on GREAT.gov.uk were also announced as part of the government’s strategy.
The trade centre’s new team, which are based in Birmingham, has already started to help a number of British businesses with their export activity into markets such as India, Pakistan, Bangladesh, across Europe, the Middle East, Africa, as well as Far Eastern markets such as China, South Korea, Thailand, and Vietnam.
Minister of State for the Department for International Trade, Baroness Fairhead, said: “Time and again we have seen the boost that exporting gives to UK businesses.
“By selling their goods and services around the world, companies can increase profits, employ more workers and create businesses which endure longer.
“That is why our new Export Strategy aims to increase the substance, availability and awareness of export support
“I am therefore delighted to be opening Barclays’ new Trade Centre today, and would encourage businesses up and down the country to make the most of the team’s expertise.”
Jes Staley, Barclays Group CEO, said: “From manufacturing to agriculture, retail to digital, we are helping more UK businesses sell their goods and services to more people around the world.
“This Trade Centre is our latest initiative to make it easier for UK businesses to find their way in overseas markets, by providing the right finance, and all-important advice and guidance.
“New research we have commissioned on this important subject, published today with the Policy Institute at King’s College London, shows that one important way to boost UK exports is to create more ‘superstar exporters’, or UK firms who export 10 or more products to 10 or more overseas markets.
“Helping these businesses to export more in turn helps smaller firms in their supply chain to grow, and to create jobs.
“Helping firms to become superstar exporters can deliver wider benefits to the UK economy and Barclays is determined to play its part.”
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