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Non-ministerial government department
Non-ministerial government departments (NMGDs) are a type of department of the United Kingdom government that deal with matters for which direct political oversight has been judged unnecessary or inappropriate. They are headed by senior civil se ...
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, logo = UKtrade.svg
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, picture = Department for Business, Enterprise and Regulatory Reform - geograph.org.uk - 2865867.jpg
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, formed =
, preceding1 = British Trade International
, dissolved = July 2016
, superseding =
Department for International Trade
The Department for International Trade (DIT) is a Departments of the Government of the United Kingdom, department of Government of the United Kingdom, His Majesty's Government responsible for striking and extending trade agreements between the U ...
, jurisdiction =
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
, headquarters = 1 Victoria Street, London, SW1H 0ET
, region_code = GB
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, employees = 2,331
, budget = £270 million (2009-2010)
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UK Trade & Investment (UKTI) was a UK Government department working with
business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...
es based in the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
to assist their success in international markets, and with overseas investors looking to the UK as an investment destination. It was replaced in July 2016 by the
Department for International Trade
The Department for International Trade (DIT) is a Departments of the Government of the United Kingdom, department of Government of the United Kingdom, His Majesty's Government responsible for striking and extending trade agreements between the U ...
.
History
UKTI was formed in May 1999 as British Trade International, comprising two parts: Trade Partners UK (for
export promotion
Trade promotion (sometimes referred to as export promotion) is an umbrella term for economic policies, development interventions and private initiatives aimed at improving the trade performance of an economic area. Such an economic area can includ ...
) and Invest UK (for inward investment -
FDI). 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.
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".
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 Commissions,
Consulate
A consulate is the office of a consul. A type of diplomatic mission, it is usually subordinate to the state's main representation in the capital of that foreign country (host state), usually an embassy (or, only between two Commonwealth coun ...
s and trade offices, and regional offices in the nine English
region
In geography, regions, otherwise referred to as zones, lands or territories, are areas that are broadly divided by physical characteristics (physical geography), human impact characteristics (human geography), and the interaction of humanity and t ...
s
The delivery of many UKTI regional services within the United Kingdom is contracted out to other organisations. In Devon, Cornwall and Somerset, UKTI regional services are now delivered by Serco, In China, the China Britain Business Council, another private body, is the provider.
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
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
(SMEs).
UK Trade & Investment brings together the work of the
Foreign & Commonwealth Office
The Foreign, Commonwealth & Development Office (FCDO) is a department of the Government of the United Kingdom. Equivalent to other countries' ministries of foreign affairs, it was created on 2 September 2020 through the merger of the Foreign ...
and the
Department for Business, Energy and Industrial Strategy
The Department for Business, Energy and Industrial Strategy (BEIS) is a department of His Majesty's Government. The department was formed during a machinery of government change on 14 July 2016, following Theresa May's appointment as Prime ...
. The UK
Special Representative for International Trade and Investment
The Special Representative for International Trade and Investment was a member of the British royal family who represented the Sovereign for UK Trade & Investment which reports jointly to the Foreign Office and the Department for Business, Innov ...
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
A federation (also known as a federal state) is a political entity characterized by a political union, union of partially Federated state, self-governing provinces, states, or other regions under a central #Federal governments, federal gover ...
under which they contribute market research and other reports on
GlobalTrade.net.
UK Trade & Investment has an arms-trade branch called ''
UKTI DSO'' (UK Trade & Investment Defence & Security Organisation) headed by
Sir Richard Paniguian.
References
External links
*
{{DEFAULTSORT:Uk Trade and Investment
Economic history of the United Kingdom
Organizations established in 1999
Investment promotion agencies
Department for Business, Innovation and Skills
Foreign, Commonwealth and Development Office
Foreign trade of the United Kingdom
Business organisations based in the United Kingdom
1999 establishments in the United Kingdom
Investment in the United Kingdom
Trade in the United Kingdom
2003 establishments in the United Kingdom
Defunct departments of the Government of the United Kingdom