UK Trade & Investment

UK Trade & Investment
Welsh: Masnach a Buddsoddiad y DU
Non-ministerial government department overview
FormedOctober 2003 (2003-10)
  • British Trade International
DissolvedJuly 2016
JurisdictionUnited Kingdom
Headquarters
  • 1 Victoria Street, London, SW1H 0ET
Employees2,331
Annual budget£270 million (2009-2010)
Websitewww.gov.uk/ukti

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. 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 was an international organisation with headquarters in London and Glasgow in Scotland. Across its network UK Trade & Investment employed 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

The delivery of many UKTI regional services within the United Kingdom was contracted out to other organisations. In Devon, Cornwall and Somerset, UKTI regional services were delivered by Serco, In China, the China Britain Business Council, another private body, was the provider.

Business and university leaders worked with UKTI as "business ambassadors". They promoted the UK internationally and highlighted trade and investment opportunities. They focused on helping small and medium-sized enterprises (SMEs).

UK Trade & Investment brought 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 worked as part of UKTI to promote British business and produce.

UK Trade & Investment had public-private partnership agreements with the Federation of International Trade Associations under which they contributed market research and other reports on GlobalTrade.net.

UK Trade & Investment had an arms-trade branch called UKTI DSO (UK Trade & Investment Defence & Security Organisation) headed by Sir Richard Paniguian.

See also

References

  1. ↑ UKTI Resource Accounts 2009-2010, UK Trade & Investment, 22 July 2010, archived from the original on 23 November 2010, retrieved 19 December 2010
  2. ↑ "UK Trade & Investment - GOV.UK". Ukti.gov.uk. Retrieved 22 July 2015.
  3. ↑ "Late Payments". Businessmole.
  4. ↑ "UK Trade & Investment".
  5. ↑ "Quantamental investing".
  6. ↑ "UKTI Resource Accounts 2009-10, Staff Numbers and Related Costs". Ukti.gov.uk. p. 67. Archived from the original on 28 October 2012. Retrieved 22 July 2015.
  7. ↑ The Committee Office, House of Commons (28 January 2010). "House of Commons - Exporting out of recession - Business, Innovation and Skills Committee". Publications.parliament.uk. Retrieved 22 July 2015.
  8. ↑ "The Directory for International Trade Services". GlobalTrade.net. 3 February 2015. Archived from the original on 24 February 2018. Retrieved 22 July 2015.
  9. ↑ "UK Trade & Investment Defence & Security Organisation - GOV.UK". Ukti.gov.uk. Retrieved 22 July 2015.