Four major new trade and investment hubs will be established in Scotland, Wales, Northern Ireland and the north-east of England to help boost trade and investment, and level-up the country, the UK’s international trade secretary Liz Truss has announced.
The trade hubs in Edinburgh, Cardiff, Belfast and a second major Department of International Trade (DIT) site in Darlington, will be established as part of a new strategy to “boost exports and bring the benefits of our global trade policy to the whole of the UK”, including from the benefits from future free trade agreements with the US, Australia, New Zealand, and the Comprehensive and Progressive Trans-Pacific Partnership.
The trade hubs will also create a link between the regions and the resources of the Office For Investment – a joint initiative with the prime minister’s office – to channel investment money into every UK nation and region, explained the government.
“The trade hubs will be home to teams of export and investment specialists, who can provide businesses with expert support and advice to help them: maximise their export potential and boost their trade in new markets overseas; better access major trade markets like India, the US and Japan; and feed directly into DIT’s free trade agreements programme.”
“I’m determined to use UK trade policy to benefit every part of the UK,” Liz commented.
“These trade and investment hubs will help this country to an export and jobs-led recovery. They will mean we can channel investment into all corners of the country, and that exporters – whether they’re selling Scotch beef, Welsh lamb or cars made in the north of England – have access to the expertise they need to sell into the fastest growing markets.”