Exports Minister, Mike Freer, delivers keynote speech at the UK Trade and Export Finance Forum
The Minister for Exports will today say that British businesses must harness the opportunities created by the trade deals the UK has signed with 70 countries plus the EU as he sets out his ambition to use UK Export Finance’s (UKEF) £50 billion of finance capacity to stimulate UK trade.
At the 4th annual UK Trade & Export Finance Forum hosted by UKEF, Mike Freer will fire the starting gun on an export revolution powered by the UK’s rejuvenated export credit agency.
This is a vital part of the UK’s new ‘Made in the UK, Sold to the World’ strategy to set the course for an ambitious export target of £1 trillion worth of UK goods sold overseas, seizing the opportunities presented by an expected quadrupling in global trade by 2050.
Minister Freer will say:
He will highlight how UKEF has provided vital support to businesses during the pandemic, filling the gaps in private sector provision at a time of seismic shifts in the global economy. He will say that UKEF is now ready to support the economic recovery by helping businesses build back better than ever before.
He will add:
The speech will point to the success of the innovations already introduced over the last 2 years to rejuvenate UKEF’s offer and announce:
Further Support for Renewable Businesses
Clean industries already support 410,000 jobs across the country. This number is growing rapidly, with the clean growth sector estimated to be worth up to £170 billion to the UK economy by 2030.
As part of a relentless focus on the industries of the future, delivering on the promises made at COP26, UKEF is making it easier than ever before for UK exporters of clean growth services to access funding.
The Minister will say:
The Minister will close by highlighting UKEF’s role in delivering the UK’s new export strategy and the need for greater financial support for exporters.
He will conclude:
Background
About UK Export Finance
UK Export Finance is the UK’s export credit agency and a government department, working along-side the Department for International Trade as an integral part of its strategy and operations.
Established in 1919, it exists to ensure that no viable UK export should fail for a lack of finance from the private market. It provides finance and insurance to help exporters win, fulfil and get paid for export contracts.