In June we were delighted to attend the inaugural summit held by SIITACE (Society for Independent International trade and Customs Experts).
Formed from several independent experts in international trade to give both a voice and a forum for members, the event was sponsored by World First who recognised the opportunity to hear from members and attendees on their observations of client opinions and ambitions.
The theme for the day was looking at the ambitious target set by HM Government to reach £1 trillion in exports by 2030.
Was it possible? How could we achieve this? If we do the same things we do now, will we reach the target?
Fielded by an impressive array of speakers, participants pondered and posited on how the industry is changing through world events and national developments. The situation at the World Trade Organisation was shared by Lesley Batchelor OBE as a starting point. Other speakers followed, looking at the Digitalisation agenda and whether the plans were looking towards the 5th industrial revolution as well as the 4th.
Free Trade agreements were considered against the opportunities based on the heritage and legacy of trust and regard for goods and services from the UK. Attendees included the Trade Remedies Authority, HMRC, EY, London Chamber of Commerce and World First amongst others, all keen to share experience, knowledge and opinion. This was useful as a key part of the day was gaining insight into 4 questions:
- If we are to achieve the aim of £1 trillion export sales by 2030 how can we support British companies to be ambitious in overseas markets?
- In the uncertain and volatile environment in which international trade operates, how can British companies build sustainability in their supply chains at a time when costs are increasing and there is a call for Net Zero.
- From CHIEF to CDS and an ambition to create a Single Window, profound changes are being made to digitalise customs entries and documentation. Is this a good idea and will it help or hinder trade in the next 8 years?
- UK trade figures for 2030 – what will it look like, will we achieve the target? What role do trade agreements play in this? What are/were the pitfalls and the opportunities?
The responses to these are being drawn into a Report to be shared with DIT, the APPG, ICC and BCC.