Dr Liam Fox announces UK Export Finance initiatives to boost UK exports through deals with Atkins International and Dubai World Trade Centre.
The UK’s export credit agency and Atkins International, a world leader in international project management and engineering projects, have agreed to work together to grow the company’s UK supply chain and boost UK exports.
Under the partnership, UK Export Finance (UKEF) and Atkins will identify and promote opportunities for UK infrastructure and engineering suppliers on Atkins’ projects backed by UKEF financing. This will help UK companies secure business across more than 15 international markets, boosting their export sales and revenue.
The announcement will be made today by International Trade Secretary, Dr Liam Fox MP, at the government’s first UK Trade and Export Finance Forum, hosted by UKEF and the Department for International Trade (DIT).
Dr Fox will also announce UKEF support of more than £100 million for the construction of the fourth phase of the Dubai World Trade Centre by ASGC UK.
Phase four will see the construction of an onsite hotel and will generate significant business for UK businesses, with nearly half of the supplies and services for project expected to come from the UK. This builds on UKEF support for the first three phases of the project which also included significant UK content.
International Trade Secretary, Dr Liam Fox MP, said: “The UK’s reputation for high-quality manufacturing and highly-skilled construction is renowned the world over. This government, through UK Export Finance, is taking a proactive approach to bringing business to the UK, with wide-reaching benefits for both individual UK businesses and the UK export economy as a whole.
“In UK Export Finance, the UK’s export community truly has a world-class export credit agency.”
After Dr Fox’s speech, Baroness Fairhead, Minister of State for Trade and Export Promotion, will deliver an address on her ambitions for UK exporters. Her speech will highlight government support that is available for businesses that want to start exporting today and the government’s forthcoming Export Strategy.
The UK Trade and Export Finance Forum is designed to boost understanding of export finance and support available from the UK’s export credit agency among the UK business community. It will be attended by 400 representatives of UK and international business and finance.
Among those speaking will be John Mahon (Director General for Exports at DIT), Antonia Romeo (Permanent Secretary of DIT), Louis Taylor (CEO of UK Export Finance), Baroness Northover (HM Trade Envoy for Angola and Zambia) and Baroness Nicholson (HM Trade Envoy for Iraq, Kazakhstan and Turkmenistan).