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Security Export Strategy: boosting British exports

Darren Rigden, Partner, Audit and Business Solutions
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Last week, the Department for International Trade (DIT) launched its Security Export Strategy, setting out how the government will ensure that UK companies remain at the forefront of growing global demand for security exports and services.

This latest paper builds on the government’s 2018 Export Strategy and sets out how the UK will harness its global network, the DIT’s trade commissioners and cross-government network to support the specific needs of companies serving the security and resilience sector.

They aim to achieve their strategy by:

  • encouraging businesses to export
  • providing export ‘know how’ and guidance
  • connecting them with partners in the UK and overseas
  • ensuring that no viable UK security export fails for a lack of finance or insurance from the private sector through promotion of the UK Export Finance (UKEF) offer to business.

More specifically, the security export strategy paper details the support that is currently available to exporters. It covers how the Department for International Trade Defence and Security Organisation (DIT DSO) works in partnership with other governmental departments and trade associations to support companies in the security sector to:

  • develop new campaigns and offers to attract foreign buyers
  • create bespoke capability packages for large projects
  • actively support UK suppliers at foreign and domestic trade shows
  • invest in developing commercial sector knowledge across government.

The strategy also provides information on:

  • the current capabilities of the UK sector
  • the global buying environment for security products and services
  • profiles of buyers of security equipment and services
  • the UK’s priority international markets for security sales.

The strategy reinforces the commitment by the government to encourage and support exporters. We have held a number of events with the DIT, which have been well received by our clients and contacts. 

The increase in exports reported in the policy paper’s accompanying press release are welcome and, although these may be skewed by a weak pound, there is no doubt the Britain’s products are in high demand overseas. Equally, the weak pound will also help some exporters get a foot hold in new markets which they stand a good chance of retaining, even if the pound strengthens once their products are established.

While the uncertainly around Brexit is still a key concern for exporters, the medium-term future for UK exporters looks positive, once individuals and businesses have some form of certainty and can plan for the future.

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Darren Rigden
Darren Rigden
Partner, Audit and Business Solutions