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Ross hails creation of new Scottish trade hub

By Alan Beresford

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THE launch of a new trade hub designed to aid Scottish export businesses thrive internationally has been welcomed by Moray's MP.

Douglas Ross MP.
Douglas Ross MP.

Created by the UK Department of International Trade, the hub is based at the government’s new Edinburgh HQ, Queen Elizabeth House, also aims to help businesses in Scotland recover from the coronavirus pandemic

It comes as UK Export Finance appoints first renewables-focused export finance manager in Scotland.

The new hub will house 3000 civil servants from multiple departments, the UK Department for International Trade’s new Scotland Hub will provide businesses with greatly increased trade support.

The news has been hailed by Moray Conservative MP Douglas Ross.

"This is very welcome news for Scotland," he said.

"Ensuring our economy recovers as quickly as possible from the impact of the coronavirus pandemic should be a priority for both our governments.

"This UK Government hub will provide businesses with help and support to grow overseas trade. We are lucky to have so many recognised and emerging global brands here in Moray.

"Increasing exports will be a vital part of our economic recovery, and I would urge firms here in Moray to take advantage of the services available."

UK Government Minister for Scotland David Duguid added: “This new UK Government Trade Hub in Edinburgh is fantastic news for Scottish businesses.

"It will help them make the very most of the global trade opportunities once the EU transition period ends.

“I urge Scottish businesses to work with the Trade Hub to expand their export business, especially Scotland’s famous food and drink sector. This is a real boost for Scottish produce.

"Recovering our economy from coronavirus is a national effort. We are working as one United Kingdom to support businesses in Scotland.

“The trade hub will be based in Queen Elizabeth House, the UK Government’s new flagship building in Edinburgh. It is a clear demonstration of our commitment to strengthening the Union and delivering for people in Scotland.”

Through the trade hub, businesses will be able to utilise the UK government’s global networks, expertise and influence, as well as world-leading credit agency, UK Export Finance (UKEF), to grow their overseas trade and build back from the impact of coronavirus.

UKEF has appointed a specialist to focus on renewable exports and to support energy transition in Scotland, further demonstrating the continued commitment to supporting energy companies across Scotland and helping them succeed abroad.

Having previously worked to strengthen the outreach of UKEF’s regional network of Export Finance Managers, Alistair McMillan takes up this new role.He will support companies that wish to export renewables as well as to those wishing transition from other forms of energy, using his 25 years of experience in the international finance and trade arenas.

The announcement follows the allocation of £2 billion of direct lending to green projects in the latest budget. This additional finance will support clean growth projects as global economies shift away from fossil fuels to renewable and low carbon solutions.

In Queen Elizabeth House, DIT will be joining the Office of the Secretary of State for Scotland, Office of the Advocate General, HMRC, HM Treasury, Cabinet Office, the Office for Statistics Regulation, the Information Commissioner’s Office, and the Government Actuary’s Department. Additional UK Government departments are expected to confirm occupancy in the coming months.

The UK Government building will be fully occupied as soon as it is safe to do in a Covid-secure way.

Work is also under way to set up a flagship UK Government building in Glasgow.

Read more news here.

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