INTERNATIONAL TRADE
What does Brexit mean for exporters?
Joe Hepworth
taking place in Dubai from October 2020 to April 2021. Promising to foster creativity,
innovation and partnership globally, Expo2020 is an ideal platform for East Midlands-based companies to showcase the world-class products and services emanating from the region. Healthcare is a prime example
of a sector in which East Midlands expertise is appreciated in the UAE. The Midlands Engine trade mission to the Arab Health exhibition in February included a significant East Midlands delegation, developing business and raising the profile of the innovative offering of the region’s healthcare exporters. In many ways, the UAE is a
traditional Arab trading nation. Regulatory burdens and cultural differences can create challenges for companies new to the market, but shouldn’t deter ambitious businesses from taking it seriously and seizing the potential it has to offer. The World Bank Ease of Doing Business rankings for 2016 listed the UAE as the 26th easiest place to do business in the world, and 1st in the MENA region. Competition in the UAE can be
fierce, with Asian, North American and European companies vying for market share. With 90% of the population
being expatriates, this is one of the most globalised markets in the world. With over 5,000 British
companies operating in the UAE, there is, however, a strong
support network for UK companies keen to start exporting. The East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) and The British Centres for Business, as members of the British Chambers of Commerce’s Global Business Network, provide assistance to companies through a range of services, including market analysis and incubation. Speaking at a ‘Meet the
Expert: Gulf States’ event at the Chamber’s Leicester office in February, British Centres for Business Chief Executive Officer, Joe Hepworth, said: “There’s a continued demand for British creative technology, smart firms, be it around consultancy, around training, around tech, around creative, that sort of demand for professional expertise.”
To learn more about export opportunities in the UAE, or to be referred to a British Chambers of Commerce Global Business Network market expert, contact Giles Jones, International Trade Networks Adviser at the Chamber, on 0115 957 8757 or email
giles.jones@
emc-dnl.co.uk
Lee Wells, Group Head of Operations at 512 (Sheffield and Doncaster) looks at what has changed in the world of international logistics since the UK’s decision to leave the European Union. On 23 June 2016 the UK voted for Brexit with a 52% majority. This has led to uncertainty in the UK as to how procedure will change and
what the future holds for both the manufacturing and shipping industry. The initial signs from the perspective of 512 - providers of international
logistics services with a view to helping local companies be successful globally - are positive. Exports are up significantly and the mood seems to be positive among our customers and suppliers. The main reason for this increase in activity is the pound decreasing in
value. This has led to products being made in the UK much cheaper for overseas buyers, leading to an increase in orders. I see this, definitely in the short term, as a major opportunity for
exporters as they can increase orders without compromising their profits and it is uncertain how long this will last with the pound slightly increasing over the past few months. That said, the future of the economic and trading climate is somewhat
uncertain and many questions remain unanswered. Will shipments destined for the EU require customs declarations? Will purchases from the EU mean duties are imposed which drive up the costs of these goods? Will leaving the EU increase activity with other countries? This leads to potential fear and hesitation by local companies relying on
export markets and we will not know until the final deal is done in 2019, according to Mrs May’s speech in January. Personally, I think Brexit is a massive opportunity for importers and
exporters alike, while I understand the future could be turbulent between now and the final decision. From 512’s point of view, our volume of exports has increase massively and we have enjoyed our best five months in our history, linked to the weaker pound as a result of Brexit. If manufactures market correctly and look at opportunities outside the
EU, they could potentially benefit from this change, especially in the short term while the free trade deal is still intact.
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