For the last two years, Brexit has been the hot topic on everyone’s lips in the UK.
This key juncture in British history means that understanding the rules behind international trade after brexit has never been more important for British businesses. The Government’s commitment to leaving the Customs Union and Single Market, will mean that the UK will have to negotiate its own trade agreements for the first time in nearly 50 years.
Mark Rowbotham is a Consultant and Trainer in International Trade, Logistics & Customs Issues, and has spent a considerable length of time working in both the Government and Commercial sectors. He deals primarily with Risk Management, Compliance, Control and Procedural issues in Customs, International Logistics and Supply Chain, Multimodal, Marine and Aviation matters. He is also a specialist in Customs Compliance, Export Controls, Offshore Oil & Gas Logistics and Controls, and has undertaken an extensive number of contracts for a variety of organisations involved in this and other industrial sectors.
He advises several Chambers of Commerce in the North of England on Customs and International Trade issues, and frequently delivers Training Courses and Seminars on these issues. He is a Chartered Fellow of the Chartered Institute of Logistics and Transport (CILT UK), and has delivered training courses and created training material on behalf of the Institute. He also deals with international Financial, Security and Risk Management issues, especially concerning fiscal, international trade and logistics audit trails, and teaches these subjects at University and on bespoke training courses.
Below we have asked him a few questions ahead of our ‘Understanding International Trade’ training event on some of the key issues facing this topic:
Briefly, what do you think will be the main impacts upon international trade after Brexit?
The UK is going to have to forge its own trade policy after Brexit, which also means that the UK will have to use the services of trade experts to achieve this. We will also have to create new trading relationships with other nations as well as developing our own trade control mechanisms, which will be a significant challenge.
What are the key fundamentals of international trade?
The key fundamentals of international trade are: Tradeable commodities, products and services; suitable markets coupled with demand for these products and services; flexible but stable currency exchange rates; the UK as a productive and viable trading partner and a willingness by others to trade with us.
In your opinion how will leaving the customs union and single market affect businesses in the UK?
Leaving the Single Market and the Customs Union will mean that we will have to negotiate a Free Trade Agreement with the European Union, as well as with other nations. We will also have to be far more competitive and productive in order to maintain our international market share. UK businesses will also have to learn more about the principles and practices of international trade in order to compete efficiently on international markets. This also means that training and awareness will also be key issues in trade competitiveness.
What can delegates expect to gain through attending our Understanding International Trade course?
Delegates will be able to understand better the principles of international trade in terms of Competitiveness and Productivity, Opportunity cost, Comparative and Competitive advantage, Free trade, Tariff and Non-tariff barriers, the National Income Account, Trade balances, the Balance of Payments and different approaches, Trade Facilitation and Trade controls.
Get involved in the conversation!
Is your organisation preparing for the changes to international trade after Brexit? How do you feel about the upcoming changes? Are there any tips or pieces of advise you would share?
We’d love to hear from you. You can tweet us using #UMGTraining @UModernGov.
If you would like to discuss any of the details you have read in this blog; including our ‘Understanding International Trade’ course on Wednesday 11th July, please contact us on 0800 542 9440 or email [email protected].
Can’t make the date?
We can also run this course for you In-house, at your organisation or a venue of your choice, on a date to suit you. Contact our In-house training team on [email protected] or call 0800 542 9414 to find out more.