The global trading system is in disarray. Global economic growth is slowing, half the G20 are now operating under openly protectionist agendas, and tensions between China and the United States remain high – despite faint promise of a truce earlier this year. But over in the UK, all of this is overshadowed by the continuing dispute over Brexit. The nation is bitterly divided, and we are fast approaching what could constitute a national crisis.

There is, so far as I am aware, little or no precedent for what the UK is attempting to do: seeking to reduce unfettered access to its closest and most important market – which also happens to be one of the world’s two largest. In 2018, 46% of the UK’s exports went to the EU, and 54% of UK imports came from it. Almost all countries in the world try to make trade deals, not dismantle them.

International companies are facing the dual challenge of uncertainty and transformation in how they source, produce, transport, sell and trade their goods and services. The question is how can they get ahead of the curve and thrive in this changing environment.

EORI numbers – or economic operator indicator numbers – are essential for exporters. Based off a company’s VAT number, an exporter needs an EORI in order to complete a Customs Declaration. Till now, UK businesses have not needed to complete such documentation in order to sell into Europe, but this will change with Brexit.

Our departure from the EU will give the UK the ability to take control of its own independent trade policy for the first time in more than 40 years.

Despite today’s climate of rising trade tariffs and falling trade volumes, UniCredit’s Global Head of Global Transaction Banking, Luca Corsini, claims we have reason to remain optimistic for trade finance revenues in the coming months, pointing to the rising need for security in trade transactions, the rise of digital platforms to simplify and expand service provision, and continued infrastructure development stemming from Asia

The latest EU Exit Business Readiness Bulletin from the Dept for Business, Energy & Industrial Strategy (BEIS) includes details of a number of updates from the Department for International Trade… read more →

We spoke to the winner of the Queen’s Award for Enterprise & International Trade, Imran Arshad, founder of Eventuri, in a podcast series for Trade Finance Talks. The UK exports vehicles and vehicle companions to more than 160 countries worldwide, that’s 81.5% of all vehicles produced in the UK.

In July the pound continued its march lower as markets prepared for the prospect of a PM who would be more aligned with a no-deal Brexit outcome

Boris Johnson has now formally accepted the Queen’s invitation to form a government. TFG heard from leaders in trade, treasury, export and finance.