EIC welcomes UK Export Strategy, but cautions there is still work to do

EIC welcomes UK Export Strategy, but cautions there is still work to do

18 Nov 2021

The EIC today welcomes the UK Export Strategy published by the UK Government which sets out the framework by which it aims to help existing and new exporters to expand their export investments.

Particularly welcome is the ambition to grow clean growth and low carbon exports, as the UK aims to take leading positions in energy transition technologies like hydrogen, carbon capture and floating offshore wind.

Stuart Broadley, EIC CEO, says: “Our members are active in all these markets and we see first-hand the world-leading capabilities and expertise they have. We look forward to engaging with our members and DIT officials to ensure we move our export capability in the right direction.”

The Export Strategy outcomes build on the changes the EIC have been seeking, to reflect the needs of their members through their acclaimed Survive & Thrive research, which pulls together intelligence on growth strategies used in challenging market conditions.

The research clearly shows that the least used growth strategy, indeed the hardest growth strategy, has been the development of new export markets, for every one of the last five years.

Stuart Broadley, EIC CEO, adds: “The energy market opportunities of the future are not always going to be in the same countries as the opportunities of the past. Technologies like offshore wind and green hydrogen are seeing significant growth, in countries that often do not have strong heritage in oil and gas, and if companies are to stay ahead of the curve, they need to develop brand new export markets to fit these exciting and lucrative opportunities.

“The EIC looks forward to working further with the Government as the strategy is implemented and developed to ensure that our members are enabled, and helped, to export their expertise.“

For further comment please contact Rebecca Groundwater, EIC Head of External Affairs on +44 (0)77 683 32450.

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