This month's updates from the British Chambers of Commerce (BCC)
► BCC meets with EU Unit to discuss trade priorities: The BCC had the first of new regular meetings with the EU Unit at the Department for Business and Trade. The discussion focused on priorities for easing trade in goods and services between the UK and EU.
► UK-Gulf Co-operation Council trade negotiations progressing: The BCC was briefed on the latest developments in the UK-Gulf Co-operation Council trade negotiations. Both sides have agreed on key text, and negotiations are proceeding at pace.
► BCC engages on UK Trade Strategy: Shevaun Haviland and William Bain met with Sally Jones, Director of Trade Strategy at the Department for Business and Trade (DBT). Sally outlined priorities for the forthcoming Trade Strategy, including export support, digital trade, green trade, and sector/place-based exports. The BCC will submit a formal response.
► UK-EU trade relations discussed at Domestic Advisory Group: The BCC participated in the UK Domestic Advisory Group’s plenary on UK-EU trade and economic relations. William Bain raised concerns about VAT and fiscal representative requirements, the EU customs legislation review, and the regulatory burdens on GB exporters to the EU.
► Focus on trade in services: William Bain joined a DBT meeting on trade in services, emphasising improved business mobility as a key priority for strengthening relationships with key markets.
► Updates on product regulation and markings: The BCC attended the Industry Stakeholder Group meeting to discuss progress on the Product Regulation and Metrology Bill, consultations on medical device markings, and proposals for the UK-EU relationship reset in 2024.
► Briefing on trade negotiations: The BCC was updated by DBT’s Director General for Trade Negotiations on progress with the Gulf Co-operation Council, Switzerland, and South Korea. Talks with Turkiye, India, and Israel will resume in 2024.
► BCC contributes to WTO Trade Policy Review: The BCC provided evidence to the World Trade Organisation’s visiting Trade Policy Review team, focusing on the impact of UK trade policy on exports, imports, and investment growth. This input will inform the WTO’s analysis of UK trade, set to be published next year.
► Engagement with the German Embassy: The BCC met with the German Embassy to discuss resetting UK-EU trade, recent economic developments in both countries, and how political events in Germany may shape the bilateral relationship with the UK.
► Discussions on trade facilitation and customs: The BCC engaged with the Customs and Trade Facilitation team from the Department for Business and Trade (DBT) to review trade data, documentation, rules of origin, progress on the Single Trade Window, and the ten-year impact of the Trade Facilitation Agreement.
► Focus on digital trade expansion: The BCC met with DBT’s Trade Digitalisation team to discuss advancements in digital trade within the UK and strategies to boost adoption of digital trade practices internationally.
► UK trade data for October shows mixed trends: The Office for National Statistics released UK trade data for October 2024. Goods export volumes dropped by 2.6%, while services export volumes rose by 2.5%. Exports to the EU increased slightly, but declines in trade with the rest of the world offset this growth. Read their findings HERE.
► Enhancing UK-Morocco trade: William Bain participated in a webinar hosted by the British Chambers of Commerce in Morocco to discuss opportunities for increasing UK-Morocco trade and investment.
► Discussions on UK-EU trade reset: The BCC met with the Department for Business and Trade’s Mobility Team to share findings from its recent survey and provide input on the upcoming reset of UK-EU trade relations, expected in 2025.
► Market Access and Rules of Origin Forum: The BCC joined the Market Access and Rules of Origin Policy Forum with government officials and stakeholders. Discussions included the UK’s potential rejoining of the Pan-Euro Mediterranean (PEM) Convention on rules of origin. A follow-up meeting with officials is planned for the New Year.