Free Trade Agreements 2021-01-14
2021-01-14
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Response quality
Questions & Answers
Q1
Direct Answer
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Context
The question arises from the need for businesses in the north-west to benefit equitably from future trade deals post-Brexit. The MP aims to ensure that northern enterprises are not left behind.
What steps has the Department taken to help ensure that businesses in the north-west can benefit from future free trade agreements?
My Department has recruited additional 30 international trade advisers, with 14 overseas representatives specifically for the north. We established the Export Academy to educate businesses on export planning and implementation. Since 2016, the DIT northern powerhouse team led 83 trade missions to 23 countries supporting over 1,600 companies. Virtual missions also benefitted 272 northern firms during covid-19.
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Assessment & feedback
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Q2
Direct Answer
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Context
The MP highlights the importance of SMEs in Fylde expanding into international markets and participating in global trade. The focus is on providing guidance and resources for local companies to start exporting.
What support will be made available to businesses looking to begin exporting as part of post-Brexit, global Britain?
We have launched an internationalisation fund with £38 million to provide grants for businesses to start exporting. The UK Export Finance general export facility was also introduced, offering working capital through major banks to supporting exporting SMEs. This is the first such product and available now.
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Assessment & feedback
Response accuracy