UK Trade & Investment
Encyclopedia
UK Trade & Investment is a UK Government department working with businesses based in the United Kingdom to ensure their success in international markets, and encourage the best overseas companies to look to the UK as their global partner of choice .
). In October 2003, the former department name and two inner departments merged and became UK Trade & Investment to simplify the outward recognition of the organisation, and possibly to reduce confusion with the two departments. UKTI reports jointly to the Foreign Office
and the Department for Business, Innovation and Skills
.
UK Trade & Investment offers services to English businesses wanting to gain access to global markets through export, and foreign based firms wanting to invest in the UK as a base to expand globally. Under agreement Trade & Investment organisations for Scotland, Wales and Northern Ireland respectively Scottish Development International, Wales Government, Invest Northern Ireland are able to access UKTI services and provide support for those companies who are located in their individual countries.
s, Consulate
s and trade offices, and regional offices in the nine English region
s
Business and University leaders work with UKTI as "Business Ambassadors". They promote the UK internationally and highlight trade and investment opportunities. They focus on helping small and medium-sized enterprises (SMEs), which sometimes face greater barriers to accessing global markets than larger businesses.
UK Trade & Investment brings together the work of the Foreign & Commonwealth Office (FCO) and the Department for Business, Innovation and Skills
(BIS). It draws staff and associated administration funding from both parent departments, but has its own stream of programme funding, for which the Chief Executive is directly responsible as accounting officer. The UK Special Representative for International Trade and Investment
works as part of UKTI to promote British business and produce.
UK Trade & Investment has Public Private Partnership agreements with the Federation of International Trade Associations
under which they contribute market research and other reports on GlobalTrade.net
.
History
UKTI was formed in May 1999 as British Trade International, comprising two parts: Trade Partners UK (for export) and Invest UK (for inward investment - FDIForeign direct investment
Foreign direct investment or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.. It is the sum of equity capital,other long-term capital, and short-term capital as shown in...
). In October 2003, the former department name and two inner departments merged and became UK Trade & Investment to simplify the outward recognition of the organisation, and possibly to reduce confusion with the two departments. UKTI reports jointly to the Foreign Office
Foreign and Commonwealth Office
The Foreign and Commonwealth Office, commonly called the Foreign Office or the FCO is a British government department responsible for promoting the interests of the United Kingdom overseas, created in 1968 by merging the Foreign Office and the Commonwealth Office.The head of the FCO is the...
and the Department for Business, Innovation and Skills
Department for Business, Innovation and Skills
The Department for Business, Innovation and Skills is a ministerial department of the United Kingdom Government created on 5 June 2009 by the merger of the Department for Innovation, Universities and Skills and the Department for Business, Enterprise and Regulatory Reform .-Ministers:The BIS...
.
Aims
To support its aim to "enhance the competitiveness of companies in Britain through overseas trade and investments; and attract a continuing high level of quality foreign direct investment".UK Trade & Investment offers services to English businesses wanting to gain access to global markets through export, and foreign based firms wanting to invest in the UK as a base to expand globally. Under agreement Trade & Investment organisations for Scotland, Wales and Northern Ireland respectively Scottish Development International, Wales Government, Invest Northern Ireland are able to access UKTI services and provide support for those companies who are located in their individual countries.
Structure
UK Trade & Investment is an international organisation with headquarters in London and Glasgow in Scotland. Across its network UK Trade & Investment employs around 2,400 staff and advisers, including overseas in British Embassies, High CommissionHigh Commissioner (Commonwealth)
In the Commonwealth of Nations, a High Commissioner is the senior diplomat in charge of the diplomatic mission of one Commonwealth government to another.-History:...
s, Consulate
Consul (representative)
The political title Consul is used for the official representatives of the government of one state in the territory of another, normally acting to assist and protect the citizens of the consul's own country, and to facilitate trade and friendship between the peoples of the two countries...
s and trade offices, and regional offices in the nine English region
Regions of England
In England, the region is the highest tier of sub-national division used by central Government. Between 1994 and 2011, the nine regions had an administrative role in the implementation of UK Government policy, and as the areas covered by elected bodies...
s
Business and University leaders work with UKTI as "Business Ambassadors". They promote the UK internationally and highlight trade and investment opportunities. They focus on helping small and medium-sized enterprises (SMEs), which sometimes face greater barriers to accessing global markets than larger businesses.
UK Trade & Investment brings together the work of the Foreign & Commonwealth Office (FCO) and the Department for Business, Innovation and Skills
Department for Business, Innovation and Skills
The Department for Business, Innovation and Skills is a ministerial department of the United Kingdom Government created on 5 June 2009 by the merger of the Department for Innovation, Universities and Skills and the Department for Business, Enterprise and Regulatory Reform .-Ministers:The BIS...
(BIS). It draws staff and associated administration funding from both parent departments, but has its own stream of programme funding, for which the Chief Executive is directly responsible as accounting officer. The UK Special Representative for International Trade and Investment
Special Representative for International Trade and Investment
The Special Representative for International Trade and Investment is a member of the British Royal Family who represents the Sovereign for UK Trade & Investment which reports jointly to the Foreign Office and the Department for Business, Innovation and Skills – his role involves representing the...
works as part of UKTI to promote British business and produce.
UK Trade & Investment has Public Private Partnership agreements with the Federation of International Trade Associations
Federation of International Trade Associations
The Federation of International Trade Associations based in Reston, Virginia and New York, New York USA was founded in 1984. It fosters international trade by seeking to strengthen the role of associations in the United States, Mexico and Canada...
under which they contribute market research and other reports on GlobalTrade.net
GlobalTrade.net
GlobalTrade.net is run by FITA Online, the online global trade services division of the Federation of International Trade Associations , together with partners the United States Commercial Service, UK Trade & Investment, Hong Kong Trade Development Council , ThomasNet, Alibaba.com, Kompass and...
.
People
- Stephen Green, Baron Green of Hurstpierpoint Minister of State for Trade & Investment.
- Prince Andrew, Duke of YorkPrince Andrew, Duke of YorkPrince Andrew, Duke of York KG GCVO , is the second son, and third child of Queen Elizabeth II and Prince Philip, Duke of Edinburgh...
(Special Representative). - Nick Baird, Chief Executive.
- Susan Haird, Deputy Chief Executive.
- Barbara Thomas, Lady Judge, CBECBECBE and C.B.E. are abbreviations for "Commander of the Order of the British Empire", a grade in the Order of the British Empire.Other uses include:* Chemical and Biochemical Engineering...
appointed as a Business Ambassador in January 2011.