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The UK Government’s Department for Business and Trade (DBT) announced on Wednesday the appointment of new International Trade Advisors (ITAs) in Scotland and Wales, marking a significant investment to bolster export levels in these regions. The new roles will double the DBT’s trade and investment staff in both Scotland and Wales.
In Scotland, the introduction of ITAs is expected to benefit an additional 600-900 businesses with one-to-one advice on exporting. The DBT aims to significantly expand the support offered to Scottish businesses, complementing existing services by broadening the pipeline of exporting companies.
Exports Minister Lord Malcolm Offord began stakeholder engagement on Wednesday at Greenock’s former Customs House. He held discussions with SMEs about their exporting journey and explored ways to encourage more companies to utilize such support.
Lord Offord stated, “This is a significant investment by the UK Government to provide further support to businesses across Scotland.” He highlighted the importance of accessing international markets for company growth and voiced his anticipation for ongoing discussions to ensure maximum business participation in available opportunities.
The DBT has closely collaborated with Scottish Government and Scottish Development International officials while shaping these proposals. An eight-week public engagement exercise is now underway to ensure that the new resource meets Scottish businesses’ needs and complements services already offered by SDI and others.
In Wales, the DBT will build upon its existing support, which has had a dedicated team since 2021. The appointment of ITAs is projected to double this team from 12 staff members and should assist an additional 400-600 companies.
Lord Offord launched an engagement exercise on the structure of the support, encouraging Welsh SMEs to shape the outcome. The UK Government has pledged to continue collaborating with the Welsh Government and other stakeholders to avoid duplication of service.
The introduction of ITAs supports the DBT’s goal of reaching £1 trillion worth of exports annually by 2030. The increase in exporters in Scotland and Wales will be crucial to achieving this target, as there were approximately 14,800 Scottish and 8,400 Welsh companies exporting goods or services in 2021.
The new ITAs will work alongside other UK Government support services such as the UK Export Academy, which offers free training on selling abroad, and UK Export Finance, which provides attractive financing terms and working capital loans to companies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source: Investing.com
