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Trade Facilitation Commission launches initiative to boost UK exports and foster economic growth
New Commission created to help UK traders access international markets
LONDON, April 19, 2024 /PRNewswire/ -- Some 30,000 UK companies that exported goods in 2021 are not doing so today. The Trade Facilitation Commission (TFC) was set up to boost the global trade activity of UK small and medium-sized enterprises (SMEs), addressing current challenges: less than 10% of UK SMEs export goods and a third of UK importers are unsure of their customs duty payments and almost half have experienced delays at port.
Despite the potential for growth through international trade and mutual recognition agreements, many UK SMEs face barriers ranging from complex regulations to limited resources, hampering their ability to participate effectively in global business activities.
“The Trade Facilitation Commission is dedicated to unlocking the potential of UK SMEs in the global marketplace,” explained Lord Agnew, TFC Chairman.
Robert Hardy, co-vice president, added: "Our initiatives aim to remove barriers, provide support and equip SMEs with the tools and resources they need to succeed in international trade."
Through a comprehensive approach, the TFC plans to implement several measures to facilitate trade and support SMEs, including:
"By fostering an enabling environment for trade, we not only empower businesses, but also drive economic growth and prosperity for the nation as a whole," said Shanker Singham, co-vice president of TFC.
The launch of these initiatives underscores TFC's commitment to fostering an enabling environment for trade and driving inclusive economic growth. By empowering UK SMEs to expand their presence in global markets, the Commission aims to unlock new opportunities, drive innovation and propel the nation towards greater prosperity.
Website: www.facilitation.trade
Acerca of the Trade Facilitation Commission
The Trade Facilitation Commission (TFC) is dedicated to promoting trade facilitation and supporting SMEs in the UK. With a focus on reducing trade barriers, improving competitiveness and fostering economic growth, TFC works closely with stakeholders to optimize business processes and empower companies to take advantage of global opportunities. Through advocacy, policy initiatives and capacity-building efforts, the commission aims to create an enabling environment for trade and drive sustainable development across the UK.
About the Commissioners
LORD AGNEW - PRESIDENT
Former Minister of State in the Cabinet Office (2020-2022) responsible for border preparations related to the United Kingdom's departure from the European Union.
ROBERT HARDY – CO VICE PRESIDENT
Founder and CEO of the EORI group of companies, specialized in simplified customs processes. AIBF UK-Irish Business Person of the Year 2023.
SHANKER SINGHAM – CO VICEPRESIDENTE
One of the world's leading experts on international trade, competition and regulatory reform. Co-chair of the Growth Commission
LARS KARLSSON
Global Head of Trade and Customs at Maersk. Former director of the World Customs Organization and director general of Swedish Customs.
TONY SMITH CBE
Former Director General of UK Border Force and Director of Borders Canada. He was awarded a CBE for his vital role in delivering the London 2012 Olympic Games. President of IBMATA (International Border Management and Technologies Association).
KEVIN FRANKLIN
Former Director of Customs Transformation at HMRC. Associate of the infrastructure and projects authority of the Cabinet.
FRANK DUNSMUIR
Leads the Digital Transformation team at IOE
KEVIN SHAKESPEARE
Director of Strategic Projects and International Development of IOE
CHRIS SALMON
Former senior adviser to Michael Gove MP on border preparations for Brexit. Co-founder of clearBorder, a firm specialized in commercial training.
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