The world still wants to buy British – so seize the moment  

Looking ahead to 2024 and the expected general election, whichever party wins power will face an unenviable set of economic and geopolitical challenges, writes Dr Nasir Awan.

Whoever ultimately ends up with the keys to No.10 will do so against a backdrop of disruptions to global supply chains, the impact of wars, climate change and the growing influence of AI, as well as the demands of reshaping the UK’s role outside of the EU.

From a business perspective? We carry on.

On becoming president of Greater Birmingham Chambers of Commerce in October, one of my pledges was to encourage more SMEs to explore international trade opportunities and, in turn, help Birmingham realise its potential as a global trading hub.

Business is a force for good. It has a unique ability to transcend any pressures and hostilities in the domestic and international arenas.

Crucially, consumers still want to buy – and they want to buy British.

Office for National Statistics Data released in September showed that UK exports reached record highs in 2022.

The UK’s total exports were worth a huge £834 billion, putting us well on the way to hitting government targets of £1 trillion a year by the end of the decade.

In particular, services exports are booming - topping £400 billion for the first time. ONS data estimates they were worth £411 billion in total in 2022, £10 billion higher than the original estimation of £401 billion.

International traders will be keeping their eyes on the various Free Trade Agreement (FTA) negotiations being trumpeted by government, which could open more doors.

The UK joined the major CPTPP trading bloc in 2023 and, if reports are to be believed, there are also high hopes for separate FTAs with India, Canada, Switzerland, South Korea and the Gulf Cooperation Council.

As a businessman who has been trading internationally for several decades, I’ve seen how highly products carrying the ‘Made in UK’ trademark are valued.

When that trademark is placed on products going from the UK to other countries, it is seen as a sign of assurance, quality and value.

That’s why, as Chamber president, I’m determined to help businesses get their products and services out there.

We are already working with the Foreign, Commonwealth and Development Office (FCDO) and the International Trade Centre (ITC) on a trade mission to Asia – a vast consumer market.

The mission, from 27 February to 3 March, will allow participating companies to gain an in-depth knowledge of the business environment and specific market requirements, attend one-to-one business and networking meetings with potential suppliers, develop direct contacts with potential suppliers and increase the company’s awareness of the full potential business linkages between the respective countries.

I’m pleased to report the mission – which has a particular focus on businesses in the agrifood, textiles and apparel (T&A), handicrafts and home décor sectors – has been received positively here in the West Midlands.

As well as being a large consumer market for exporters, Asia also includes a number of countries covered by the Developing Countries Trading Scheme (DCTS), which can be of great benefit to importers.

Among those is my country of birth, Pakistan, which counts the UK as one of its top five export markets. UK importers are able to bring in 94 per cent of products from Pakistan duty free under the DCTS. 

From an exports point of view, let’s not forget we’re a city of innovation. If your business has a product or service that is unique, it has never been easier to publicise or create a demand for it.

With a few clicks of a button, you have the whole world as a marketplace. Believe me, it’s far easier than when I started out all those years ago. But if you don’t go fishing, you won’t catch anything.

If you are a first-time importer or exporter, I’d urge you to get in touch with us at Greater Birmingham Chambers of Commerce to find out about the support we offer businesses to help them set sail on their international trade journeys.

Dr Nasir Awan MBE DL  is president of Greater Birmingham Chambers of Commerce and CEO of Awan Marketing International

This column first appeared in the Birmingham Post