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 buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separ ...

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 ...

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.

History

UKTI was formed in May 1999 as British Trade International, comprising two parts: Trade Partners UK (for export promotion) 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 co ...

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 an ...

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 Foreig ...

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 Prim ...

. 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. 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