UK government department
UK Trade & Investment
(
UKTI
) was a UK Government department working with
businesses
based in the
United Kingdom
to assist their success in international markets, and with overseas investors looking to the UK as an investment destination.
[2]
It was replaced in July 2016 by the
Department for International Trade
.
[3]
History
[
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]
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
[
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]
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".
[4]
Structure
[
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]
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
,
Consulates
and trade offices, and regional offices in the nine English
regions
[5]
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,
[6]
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
(SMEs).
UK Trade & Investment brings together the work of the
Foreign & Commonwealth Office
and the
Department for Business, Energy and Industrial Strategy
. 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
.
[7]
UK Trade & Investment has an arms-trade branch called
UKTI DSO
(UK Trade & Investment Defence & Security Organisation) headed by
Sir Richard Paniguian
.
[8]
See also
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]
References
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External links
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]
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