Also in the news...
Norway's WTO Trade Policy Review: UK Statement
UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK's Permanent Ambassador to the WTO and UN, Simon Manley.
UK-Norway Iceland Liechtenstein free trade agreement
Business guidance, reports and other documents to help you understand the UK-Norway, Iceland, and Liechtenstein free trade agreement (FTA).
Essential Steps Before Launching an International Auction Business
Expanding a business internationally presents unique challenges, particularly when that business involves auctions. The global auction market continues to grow as more entrepreneurs see its potential for reaching new customers across borders. However, success in this specialised field requires careful planning and the right technological foundation.
Innovative Welsh exporter puts Britain at the forefront of global immunisation efforts
UK Export Finance supports renewable energy tech company Dulas to deliver life-saving vaccine refrigerators to over 80 countries worldwide.
British aerospace manufacturers to benefit from UK-US trade deal
British aerospace manufacturers to benefit from UK-US trade deal as further details announced
Partnership agreement strengthens UK's export relationship with Iran
UK Export Finance (UKEF) and the Export Guarantee Fund of Iran (EGFI) have committed to enhancing trade and economic co-operation with a Memorandum of Understanding in a move designed to help British businesses export.
Under the agreement, UKEF, the UK’s export credit agency, and EGFI, the Iranian state-owned credit insurance company, will work together to identify opportunities for trade in capital goods, equipment and services between the two countries. It also allows the parties to co-finance and co-guarantee financing for projects or contracts in third countries involving British and Iranian exports.
The memorandum follows the extensive sanctions relief Iran received earlier this year, as a result of which UKEF immediately reintroduced cover to support UK companies seeking to compete for business in Iran.
Lord Maude, Minister for Trade and Investment, welcomed the agreement, saying:
The UK government is working to build a strong and long-term partnership with Iran, and trade is fundamental to this. Agreements such as this one between UKEF and EGFI will help British businesses realise the opportunities that economic re-engagement will bring.
Louis Taylor, UKEF’s Chief Executive Officer, said:
UKEF is committed to supporting UK businesses’ ambitions to trade with Iran, and to playing its part in the whole of government effort to expand our trade relationship.
Working with EGFI will enable us to provide our customers with comprehensive advice and support as they look to trade with Iran. Through this partnership we can identify – and help create – real opportunities for UK exporters.
Seyed Kamal Seyedali, CEO and Chairman, said:
EGFI welcomes this partnership. Closer cooperation with UKEF will help create opportunities for UK businesses to play their part in realising Iran’s plans for rapid economic and infrastructure development. The agreement will also help EGFI to support Iranian exporters as they look to trade with the UK.’