The government launched their Trade Strategy last week that contained a host of new measures aimed at boosting exports, particularly for SMEs.
These included;
– A £5bn ‘Ricardo fund’ for supporting businesses to manage regulation
– An increase in the capacity of UK Export Finance (UKEF) to £80bn
– A new ‘Small Export Builder’ to expand insurance options for those looking to export
Also in the text of the strategy were plans for a new consultation on the UK joining the Pan-Euro Mediterranean Agreement (PEM), which eases rules of origin requirements for a wide range of EU and non-EU countries in the region.
The government says that joining PEM “could provide an opportunity to harmonise rules of origin with our nearest neighbours, and increase flexibility for UK exporters where they source their inputs”.
The question of UK membership will be explored with both business and PEM members.