Baroness Fairhead has highlighted the importance of the UK’s life sciences sector to future trade at a major pharmaceutical event.
The Association of the British Pharmaceutical Industry’s (ABPI) annual conference was attended by Britain’s leading pharma businesses, and showcased the UK’s world leading capability to develop solutions to ever changing health risks around the world.
Speaking in London, the minister of state for trade and export promotion set out how the government’s forthcoming export strategy will work closely with the Department for International Trade’s Life Sciences Organisation to deliver practical support to both domestic and global businesses who use the UK as a manufacturing and export base.
The minister also detailed how a combination of top universities, research institutions and increasing government support, means that the UK is a fantastic place for the sector to invest. The UK is now one of the top three life sciences hubs globally, with businesses based across the country exporting more than £30billion of goods and services last year.
She said: “When it comes to world trade, I know that the life sciences sector is one of Britain’s great assets – so let me promise you, the government understands how important it is to our prosperity and public health.
“Our shores are the place to develop, manufacture and commercialise medicines. Our open and innovative environment has supported our world-leading research capability, established secure platforms for clinical trials, and ensures efficient access to supply chain and service partners.
“We are home to flying start-ups and world-beating multinationals and our regulatory standards are hailed the world over.
“The government knows this and we, as a nation, are proud of our past, present and potential in this sector – and we have every intention of nurturing our industry for continued success.”
UK exports of goods and services as a whole increased by 12.1% to £622bn last year, and with the UK gearing up to leave the European Union, the department will shortly deliver a new export strategy to set out the government’s ambition to get businesses of all sizes exporting their products.
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