It's time to get serious about Brexit -
Report from the Leeds World Trade Summit at #GBEXPO19
18 September 2019
On Thursday 12th September 2019, the Institute of Export & International Trade (IOE&IT) brought their World Trade Summit programme to Leeds for the first time as part of Chamber International’s Global Business Expo 2019. This collaboration saw trade experts from across both organisations and the wider support landscape give a packed room of exporters advice on a broad range of key global trade topics and international markets.
With Brexit very much dominating the headlines at the time, causing continued perplexity and uncertainty, British businesses have needed information about what the potential consequences of a ‘no-deal Brexit’ could be, and support on how to mitigate any negative impacts. The speakers at the World Trade Summit showed that exporting will be no less doable after Brexit (whatever its form) but warned that planning and skill would be essential to ensure it is done successfully, cost-effectively and compliantly.
A morning’s tour around the world
The morning agenda comprised of presentations from market specialists from around the world, covering a number of the most potentially lucrative markets for UK exporters post-Brexit, including India, Thailand, China, Brazil, USA, Singapore, Egypt, UAE, Turkey and Saudi Arabia.
The scale of opportunity in many of these markets was the key message from the majority of speakers, who were also keen to show that emerging markets will continue to dominate future global economic growth. Chamber International then facilitated one-to-one meetings between delegates and speakers over lunch.
Showing them how it’s done
Following a morning that showcased the opportunities that are out there for Britain’s exporters, the IOE&IT’s afternoon summit showed them how to go about entering these markets.
Lesley Batchelor OBE (then Director General - IOE&IT, pictured below) discussed some of the significant changes that Brexit will likely bring, particularly concerning Customs clearance paperwork and ‘rules of origin’, but was also keen to point out that support is on hand for businesses. She talked about the government grant funding which businesses can access in order to learn key Customs processes, such as completing Customs declarations, as well as the related training courses provided by the IOE&IT.
Jana Horvath-Pocciova (Export Finance Manager - UK Export Finance) spoke about the ever-expanding support that UKEF are providing to UK businesses. The case study speaker, Keith Jackson (CEO - Brandon Medicals), was one such person to have benefited from UKEF assistance. Keith noted that exporting had taken him around the world, including trade missions to China with former PM David Cameron.
Brexit - people, Customs, IP and currency
Though Brexit has long dominated the agenda at IOE&IT’s regional summits, this event took place in September, a month when businesses were acutely aware of the need to engage seriously with the many practical issues it raises. Andy Dobson (Head of sales, Northern – Moneycorp, pictured left below) encourage businesses to take steps to mitigate potential swings in the value of sterling should Britain exit the EU without a deal, while Arta Heath (Managing Director - MyUKVisas) talked through the ramifications this might have on the human side of business, visas, and settlement status for current and future employees.
Kirsten Toft (Vice Principal - Virtuoso Legal) gave an overview of a less-discussed issue relating to Brexit, namely, its impact on intellectual property rights. She recommended that businesses undertake a full IP audit, seeking proper legal advice on how Brexit may affect their intangible assets.
Stephanie Holmes (Senior VAT Manager - Grant Thornton) then covered some important issues relating to Customs and VAT. She explained the need for companies to ensure they know their EORI number, understand how to complete Customs Declarations, and realise the potential benefits of AEO (Authorised Economic Operator status) and TSPs (Transitional Simplified Procedures).
Together with Chamber International’s morning expo, the Summit provided delegates with plenty of information and encouragement for them to be positive about trade ‘post-Brexit’, but also knowing that there is much to be done to ensure their businesses are fully prepared.
Event partner for the Global Business EXPO19: Moneycorp.
Sponsors: Traveleads, MyUKVisas, Alexika
Original article by the Institute of Export & International Trade, edited by Chamber International
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