Tag: trade

Delivering economic transformation?

Scotland’s inward investment and export growth plans

Strategies to attract foreign investment and open up international trade for Scottish companies have reported successful results. 

Business Minister Ivan McKee told the Scottish Parliament that the export growth strategy, A Trading Nation, has delivered an additional £3 billion of planned international sales in its first three years.

Goods exports are growing more quickly than the UK as a whole and Scotland is also the only part of the UK with a positive trade balance in goods with the rest of the world, exporting £2.2 billion more than it imported in 2021.

A separate progress report on the Scottish Government’s Inward Investment Plan highlights that enterprise agencies attracted 113 inward investment projects and a total of 7,780 jobs in 2021-22, with 39 new investors choosing to locate here. The latest EY Annual Attractiveness Survey 2022 showed Scotland remains the most attractive part of the UK outside London for attracting foreign direct investment.

Ahead of his update to Parliament, Mr McKee visited the Tartan Blanket Co. in Edinburgh to hear how it was aiming to increase international sales.

The Business Minister said: “Despite unprecedented challenges for businesses and the economy, Scotland continues to punch above its weight on both exports and inward investment.

“A Trading Nation and our Inward Investment Plan have delivered important contributions to export growth and attracting inward investment to date. Delivery of these plans are key to Scotland’s National Strategy for Economic Transformation.

“The plans help build on Scotland’s strengths to win an ever-greater share of domestic and international market opportunities, support the development of Scottish supply chains, lay the foundations of a net zero industrial strategy, and attract and deploy significant domestic and private investment in Scotland.

“Scotland can take huge confidence – based on the progress reports and the growth of companies like The Tartan Blanket Co. – that our trade and investment strategies remain the right approach to growing exports and attracting inward investment in the years ahead.”

Neil Francis, Interim Managing Director of Scottish Development International (SDI), the international arm of Scottish Enterprise, said: “Global trade and investment is absolutely vital to Scotland’s economy and achieving the sustainable economic growth we all want to see.

“These progress reports underscore the strengths Scotland has on the international stage, both in terms of the attractiveness of our companies to global markets and as a location for companies to invest, locate and grow in.

“Our SDI colleagues based here and in target markets across the world will continue to bang the drum for Scotland, highlighting the incredible investment opportunities that exist here while supporting Scottish companies, such as The Tartan Blanket Co., export their world-class products and services overseas.”

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You’ve got a friend … PM ‘gets on with the job’ on eve of damning report

PM hails £10 billion Qatari ‘vote of confidence’ in the UK

  • The PM hosted the Amir of Qatar yesterday to develop our historic partnership and agree new joint work on trade, energy and defence
  • Strategic Investment Partnership will see Qatar invest up to £10 billion in key industries across the UK, creating jobs and growth
  • UK and Qatar agreed to work together improve the stability of energy supply chains and support security at the 2022 World Cup

It was all smiles when The Prime Minister welcomed the Amir of Qatar, Sheikh Tamim bin Hamad al Thani, to Downing Street yesterday for discussions on driving economic growth and addressing global challenges together.

The meeting was surely a welcome distraction from the latest Partygate revelations and the imminent publication of the Sue Gray report into Downing Street lockdown parties, which is expected to be extremely critical of Boris Johnson’s conduct.

The UK and Qatar signed a new Strategic Investment Partnership (SIP) which will see Qatar invest up to £10 billion over the next five years in key sectors of the UK economy, including fintech, zero emissions vehicles, life sciences and cyber security. The investment is expected to create high-quality jobs in new industries across the country.

The Prime Minister and the Amir also had a wide-ranging discussion on geopolitical issues. They were united in their condemnation of Russia’s aggression in Ukraine and discussed issues of regional security, including relations with Iran.

Prime Minister Boris Johnson said: “Today’s announcement of up to £10bn in new investment from our Qatari friends is another vote of confidence in the UK’s brilliant businesses and cutting-edge industry.

“The new UK-Qatar Strategic Investment Partnership will create quality job opportunities across the country in key sectors, delivering on our vision of economic growth through trade and investment.

“Qatar is a valued partner for the UK, supported by Sheikh Tamim bin Hamad’s leadership.  We had a rich discussion on the issues that matter to both of our countries, including boosting the economy, ensuring regional stability and improving energy security following Russia’s appalling invasion of Ukraine.”

UK-Qatar trade was worth £4.8 billion last year and Qatari investment in the UK economy is already estimated to be worth over £40 billion, supporting jobs and growth across the country.

Minister for Investment Lord Grimstone said: “It is excellent news that Qatar is targeting up to £10 billion investment into the UK through our new Strategic Investment Partnership.

“Not only will it boost local economies and support jobs, but it supports our green economy and decarbonisation – crucial in meeting our Net Zero targets. It also strengthens our relationship with Qatar ahead of our UK-Gulf Cooperation Council trade negotiations.”

Business Secretary Kwasi Kwarteng also signed an MoU on energy cooperation with Qatar’s Minister of State for Energy Affairs at Downing Street. Qatar is a major energy supplier for the UK, providing 40% of our liquefied natural gas – the new MoU commits us to work together to boost innovation and collaboration, supporting the security of global energy supplies.

UK Secretary of State for Business and Energy, Kwasi Kwarteng, said: “I am delighted to further the UK’s energy cooperation with the State of Qatar as we work to stabilise international energy markets and boost energy security in the context of Russia’s illegal invasion of Ukraine.

“Qatar is already a valued trading partner, recently investing in the future of British low-carbon nuclear technology through the Rolls Royce consortium developing small modular reactors. Today’s meeting will deepen our relationship even further, reinforcing the UK’s energy security and delivering cleaner and affordable energy in the years ahead.”

The Prime Minister and Amir discussed the upcoming 2022 Qatar World Cup this winter, and the UK committed significant new military and counter-terrorism support for the safe running of the event.

A joint UK-Qatar Typhoon Squadron will provide additional air security, and the Ministry of Defence with advanced venue search training and operational planning support.

The Prime Minister also confirmed that the UK will ensure Qatari nationals can access the UK’s new Electronic Travel Authorisation system from early 2023, facilitating easier travel for business visitors and tourists.

US trade ‘delivering for Scotland’ as Aberdeen hosts transatlantic dialogue

  • International Trade Secretary welcomes US counterpart Ambassador Tai to Aberdeen to discuss how transatlantic trade is delivering for the people of Scotland and the rest of the UK.
  • Talks focus on key sectors for Scottish economy and bring together iconic Scottish businesses including Walker’s Shortbread and innovative energy SME, Enpro-Subsea.
  • Figures show US investment is supporting over 100,000 jobs and generating nearly £50 billion for the Scottish economy.

The UK will today host the second transatlantic trade dialogue in Aberdeen aimed at boosting our £200 billion trade partnership with the US.

Against a backdrop of Aberdeen’s flourishing tech scene and world-leading energy sector, the dialogue will focus on agreed priority areas including digital and innovation, green trade, supporting SMEs and supply chain resilience.

Latest figures show the importance of transatlantic trade to Scottish workers, businesses and industry:

  • Nearly a quarter of the nation’s services exports are to the US
  • Scotch whisky exports continues to play a vital role in wider UK-US trade, with almost two thirds of beverages exported to the US coming from Scotland
  • The US is Scotland’s number one foreign investor, according to EY
  • US-owned businesses support over 100,000 jobs, generating nearly £50 billion for the economy

The Secretary of State for International Trade Anne-Marie Trevelyan will discuss the importance of trade for creating jobs and spreading economic opportunities throughout the UK – a key part of our levelling up agenda.

The dialogue will convene leaders from across Scottish, central and local government, a wide range of businesses as well as trade unions and civil society groups such as Trades Union Congress.

International Trade Secretary, Anne-Marie Trevelyan, said:  “This dialogue gives us a platform to explore more modern, digital ways of trading. It will identify and resolve barriers to trade to make it cheaper and easier for businesses in Scotland and throughout the UK to do business with our US friends.

“As two leaders in green innovation, it also gives us the opportunity to harness trade to tackle shared challenges such as climate change.

The Trade Secretary met with leaders from Scotland’s food and drink industry including Walker’s shortbread and Clootie McToot last night.

Attendees also included US spirits company Brown-Forman which owns three of Scotland’s top distilleries GlenDronach, Benriach and Glenglassaugh and employs hundreds of people in the UK. The firm hailed the lifting of tariffs on US whiskey thanks to the recent resolution of the S232 steel and aluminium tariffs dispute, and revealed it is now planning a multi-million pound investment in its Scottish facilities.

Ahead of the dialogue, Trevelyan and Tai will visit offshore energy SME, Enpro-Subsea in Aberdeen where Trevelyan will highlight the UK’s energy strategy aimed at securing energy security and independence, while we support the transition from fossil fuels to new technologies. The company demonstrates that achieving our environmental goals must go hand-in-hand with an evolving North Sea industry.

Discussions at the dialogue will provide a solid foundation for further engagement with the US. This includes ongoing work at a state-level such as mutual recognition of qualifications as well as continuing to remove barriers to trade.

The Government has already helped lift the ban on UK exports of lamb and beef and resolved the Large Civil Aircraft dispute, which removed 25 percent tariffs on Scotch whisky, resulting in huge wins for Scottish producers and exporters.

UK Government Minister for Scotland Iain Stewart said: “We’re delighted to host today’s talks in Aberdeen, marking a positive development in our already strong trade relationship with the US. Improving our partnership will create new high-quality opportunities for businesses in Scotland, including from our thriving food and drink, tech and energy sectors.

“At a time when we face immense global challenges, joining with our friends in the US to lift barriers, improve communication and encourage new and innovative ways of working together will support jobs across Scotland and beyond, benefiting businesses of all sizes.”

Shevaun Haviland, Director-General of the British Chambers of Commerce, said: “The UK and US are natural trading partners. These dialogues are an opportunity to build on that relationship and set new ambitious standards on sustainable trade. In a shifting and uncertain world, we must also take this opportunity to reinforce the resilience of our supply chains and stabilise prices.

“Smaller businesses make up the majority of our membership, and the UK economy, so it’s vital they are given a voice in these talks and that they get to reap the benefits on both sides of the Atlantic.

“Supply chain disruption and soaring inflation have reduced the operating margins of many small firms to almost nothing, so reducing the costs of trade with the US would be a huge boost for them. This would then help communities right across the UK to see the benefits that improved trade with the US could bring.”

Allan Hogarth, Executive Director of the Scottish North American Business Council (SNABC) said: “The SNABC is very much looking forward to participating in the Aberdeen session of the Transatlantic Dialogue, building on the success of the Baltimore session last month.

“These discussions will cover vital areas to the Scottish, UK and US economies – it is a great opportunity to make sure Scottish voices are heard on this, our single biggest export market, and to try and make it simpler for us all to continue to prosper and strengthen the transatlantic relationship for our mutual benefit.”

According to EY’s Attractiveness Survey Scotland, June 2021 , the US was the largest contributor of Scottish FDI projects in 2020. The 38 investment projects originating from the US accounted for 35.5 percent of all projects recorded in Scotland in 2020.

PM: UK – India partnership ‘brings security and prosperity for our people’

  • PM will meet Narendra Modi in New Delhi today for high-level talks on defence, diplomacy and trade
  • UK will work with India to boost security in the Indo-Pacific, including new fighter jet technology, helicopters and collaboration in the undersea battlespace
  • PM will also discuss new cooperation on clean and renewable energy

Prime Minister Boris Johnson will reiterate the vital importance of the UK-India partnership for global peace and security, as he visits New Delhi today [Friday].

He is expected to discuss next-generation defence and security collaboration across the five domains – land, sea, air, space and cyber – in meetings with Prime Minister Narendra Modi, as our nations face complex new threats.

This includes support for new Indian-designed and built fighter jets, offering the best of British know-how on building battle-winning aircraft. The UK will also seek to support India’s requirements for new technology to identify and respond to threats in the Indian Ocean.

To support greater defence and security collaboration with India over the coming decade, the UK will issue an Open General Export Licence (OGEL) to India, reducing bureaucracy and shortening delivery times for defence procurement. This is our first OGEL in the Indo-Pacific region.

Prime Minister Boris Johnson said: “The world faces growing threats from autocratic states which seek to undermine democracy, choke off free and fair trade and trample on sovereignty.

“The UK’s partnership with India is a beacon in these stormy seas. Our collaboration on the issues that matter to both our countries, from climate change to energy 2security and defence, is of vital importance as we look to the future.

“I look forward to discussing these issues with Prime Minister Modi in New Delhi today and working together to deliver a more secure and prosperous future for both our peoples.”

The Prime Minister will also discuss new cooperation on clean and renewable energy in his meetings in New Delhi today, aimed at supporting India’s energy transition away from imported oil and increasing its resilience through secure and sustainable energy, and addressing climate change in both the UK and India.

The UK and India are launching a virtual Hydrogen Science and Innovation hub to accelerate affordable green hydrogen, as well as new funding for the Green Grids Initiative announced at COP26, and collaboration on joint work on the electrification of public transport across India.

As well as boosting our domestic energy and economic resilience, the UK and India are collaborating as a force for good globally. The governments are committing up to £75 million to roll out adaptable clean tech innovations from India to the wider Indo-Pacific and Africa, and working together on international development and girls education.

Mr Johnson’s foreign adventures are doubtless a welcome distraction but they have done nothing to reduce the pressure on him to resign following his lies to Parliament over the Partygate scandal.

The Prime Minister is now to be investigated by a Westminster committee over claims he misled Parliament about parties in Downing Street during lockdown.

MPs yesterday approved the Privileges Committee instigating an inquiry as soon as police have finished their investigation into the gatherings.

Johnson’s government had tried to delay the vote, but were forced into making a U-turn following opposition from its own Tory MPs.

And with the full details of the Sue Gray report still to come, Boris Johnson’s political future is very much still in the balance.

Scottish Secretary visits Norway and Finland to boost trade links

Scottish Secretary Alister Jack this week travelled to Finland and Norway on a mission to boost post-Brexit trade links.

Finland and Norway have strong business links with Scotland, with Scottish exports to both countries are worth more than £1 billion a year in total. There is huge further potential for Scottish businesses.

Mr Jack undertook a packed programme in Helsinki, Oslo and Bergen. His engagements included:

  • Meeting key business representatives – including from the defence, manufacturing and energy sectors
  • Holding talks with leading political figures
  • Visiting the Haakonsvern naval base

Speaking ahead of his visit, Alister Jack said: “It is an honour to promote Scottish and UK interests in Finland and Norway. We greatly value the strong and important ties between the UK and our European friends and neighbours.

“There are enduring cultural, business and trade links between Scotland and Finland and Norway, and I look forward to strengthening those further on my visit.”

The Scottish Secretary’s itinerary also included:

  • Visiting Green waste management provider Fortum, paper manufacturer UPM, and seafood producer MOWI
  • Meeting the Finnish Trade Minister, Ville Skinnari, and Foreign Affairs Minister Johanna Sumuvuori
  • Meeting the Norwegian Defence Minister, Odd Roger Enoksen, and Norwegian Foreign Affairs Minister Anniken Huitfeldt.

Mr Jack travelled to Finland on Monday 28 February, then on to Norway on Wednesday 2 March. In both countries his visit was supported by the British Embassies, part of the UK’s extensive diplomatic network.

Tap into a Better Future: SNIPEF Training Services calls for recruits

New opportunity to fill the ranks of the next generation of highly skilled plumbing and heating technicians

Places on the Modern Apprenticeship in Plumbing and Heating are filling up fast. Spaces are open to applications from anyone aged 16 and over for the Modern Apprenticeship in Plumbing and Heating programme, including existing employees and new recruits of plumbing firms.  

With demand already outstripping supply it is vital to attract new talent to the sector to avoid long term consequences for the plumbing trade. Even before the global pandemic, the industry was faced with a skills shortage.  

This skills deficit has now become more critical and to ensure that the plumbing industry is able to keep up with current demand and meet the government’s net zero ambitions, SNIPEF is urging individuals to consider a career in plumbing, and for plumbing employers to support them by offering apprenticeships. 

With training delivered both on-site and in a classroom environment, a plumbing apprenticeship offers individuals the opportunity to earn a wage while gaining the important skills, knowledge, and experience to become a qualified plumber.  

The programme is managed by SNIPEF Training Services Ltd (STS), the only industry recognised Management Agent and Training Provider in Scotland.

With 38 years experience in delivering Modern Apprenticeships, STS now work with 18 colleges across Scotland supporting training in four fuel pathways which include ACS Gas, Oil, Low Carbon Technology and Solid Fuel.  

In addition to fuel accreditation, participants will achieve an SVQ Level 3 (SCQF 7) Modern Apprenticeship qualification which also includes Water Byelaws and Unvented Hot Water.  

Fiona Hodgson, Chief Executive of SNIPEF, said: “Anyone looking for a satisfying career, whether a school-leaver or someone contemplating a career change, should consider the benefits of undertaking a plumbing apprenticeship.

“Starting, then working diligently to complete a plumbing apprenticeship, is an excellent option for anyone who hasn’t yet decided how they want to direct their working lives.

“As an employer, there are many benefits to recruiting an apprentice or offering a Modern Apprenticeship to an existing staff member. Not only will you be developing enthusiastic talent with the exact skills and experience the plumbing and heating industry and your business requires you will also be developing the workforce of the future.” 

Dale Thomson, Training Manager of SNIPEF Training Services Ltd, said “It is more important than ever that increasing numbers of people consider a career in the plumbing and heating industry.  

“There are skill shortages up and down the country and employers are desperately looking for competent and qualified plumbers to help with the work they have lined up.  

“In addition to this, we need to ensure that sufficient numbers of plumbing apprentices are being trained now to secure enough qualified plumbers in the future to work on low carbon technology such as heat pumps to meet the Scottish Government’s ambitious net zero carbon targets.  

“If you are an employer looking to recruit an apprentice or if you are interested in a career in plumbing please contact SNIPEF Training Services who will assist you every step of the journey.” 

STS has supported thousands of apprentices to complete their training to become qualified plumbers, guiding apprentices and employers from recruitment and selection through to workforce planning, funding and training delivery.  

College places are limited and with many plumbing employers already applying to enrol candidates for the 2021 cohort registering interest now is strongly recommended.  

Anyone considering a career in plumbing and heating or hiring an apprentice plumber, should contact Gillian Macaulay, Regional Support Officer at:

SNIPEF, Bellevue House, 22 Hopetoun Street, Edinburgh EH7 4GH. T: 0131 322 1245. E: training@snipef.org W: http://www.becomeaplumber.org/.  

T: https://twitter.com/snipeftraining 

FB: https://www.facebook.com/SNIPEFtraining/ 

LI: https://www.linkedin.com/company/snipef-training-services-ltd/ 

Three steps the UK Government must take now to solve the Brexit border chaos

The current trade disruption between the UK and the EU is the result of ignoring expert advice and a chaotic information campaign, which must urgently be solved in three steps, says leading London accountancy firm Blick Rothenberg.

Alex Altmann, a partner and head of the firm’s Brexit advisory group, says: “We warned about serious disruptions many months ago and advised the Government to introduce an implementation phase for businesses to cope with the new customs formalities.

“The foolishness and amateurism of the Government’s approach has created existential threats to many businesses on both sides that currently struggle to trade with each other. The disruptions must urgently be solved in three steps.

“First, the Government must temporarily relax the requirement for EU traders to have an office in the UK to import goods, and subsequently ask the EU commission to do the same. The most serious problem today is that businesses without a presence in the other market cannot import their goods without appointing a customs agent.

“ This is how the new customs rules have been designed by the UK and the EU as part of the Brexit deal. This is a serious flaw. Customs agents are rare and very expensive and the UK currently requires about 20,000 more agents to meet demand. The Government should take this step very urgently to avoid a major supply chain disaster in the weeks ahead.”

Altmann added: “Second, the Government needs to admit that their expensive Brexit information campaign has not prepared businesses well enough for the new trade relationship with the EU. The guidance provided by the UK Government contains conflicting information, not enough detail, and to some extent, wrong advice.

“This has become particularly apparent with regards to the new border situation with Northern Ireland. It has become clear that the Government’s guidance has not been drafted by trade and customs experts, which is a serious shortcoming.

“The Government must take a step back now and relax the rules for the time being, while redrafting guidance and advisory papers based on the final Brexit deal arrangements. This is the only way to overcome the misinformation and provide traders and freight carriers with the confidence they need to sell cross-border.”

Altmann, who is also a Chairman at the British Chamber of Commerce in Germany said: “  “Thirdly, there are some serious flaws in the Brexit trade deal that the Government must put high up on the agenda to clarify and potentially renegotiate with the EU.

“ One area that continues to create confusion among traders and their freight carriers is the new rules of origin provision. The Government presented the Brexit deal as a tariff and quota free agreement. This is only partly true. Tariffs still apply in the normal way for manufactured goods which contain more than 40 percent of ingredients with origins outside the UK or EU.

“There is no guidance of how businesses should calculate and document the origin analysis. This is causing major disruptions to supply chains. Again, we recommend that the new rules of origin are temporarily paused until there is sufficient guidance and expertise available to work this out.”

Trade and Investment Minister to visit China

Trade and Investment Minister Ivan McKee will visit China this week to promote the growing economic, cultural and educational links between Scotland and the world’s second largest economy.

He will visit Beijing, Shanghai (above) and Hangzhou, conducting a series of high-level business and government meetings, as well as cultural engagements.

The visit is an opportunity to progress the Scottish Government’s China Strategy and build on the success of the First Minister’s visit to China in April 2018.

Latest overall export figures show exports from Scotland to China were worth £625 million in 2017 – rising from £590 million in 2016.

Food and drink exports to China were worth £130 million in 2018 – an increase of 10% since 2017 and up 177% since 2007. This includes growing demand for exports of Scotch Whisky to China which were worth £76 million in 2018. Last week, whisky distillers Gordon & MacPhail announced they are releasing a 70 year old malt exclusively for the Chinese market through distributor Spirit Empire.

Mr McKee said: “I am delighted to be visiting China to promote the long-standing friendship between our two countries.

“As the world’s second largest economy, there are huge opportunities for Scottish businesses to work with China. In particular, China is an important export market for Scottish products, especially food and drink, but also many other sectors including engineering and financial services. I hope our new Export Growth Plan helps build on these opportunities even further.

“There are strong educational and cultural links between our countries too. I’m pleased to be travelling with the message that Scotland is a fantastic place to invest, to do business, to study and to visit.

“During my visit, I will also meet Chinese Government representatives and look forward to discussing ways in which we can work together for the mutual benefit of our two countries. Following on from the First Minister’s visit to China last year, we will continue to talk about the importance of equality of opportunity and respect for human rights.”

China has been identified as one of Scotland’s priority markets in the Scottish Government’s new Export Growth Plan – ‘Scotland: A Trading Nation’ and on Scotland’s Export Performance Monitor