A series of recommendations have been submitted by the Railway Industry Association (RIA) to the International Trade Select Committee Inquiry detailing how the UK Government can grow rail exports and boost UK trade.
The Inquiry is investigating what export opportunities are available, and whether UK exporters are in a position to take advantage of them. It is also examining the current situation for exporters, what support is being offered by the Government, and how easily exporters can access that support.
The association has submitted eight key recommendations that urge the Government to:
- Increase the level of support at overseas rail exhibitions and UK Pavilions;
- Review the cancellation of the previous Tradeshow Access Programme (TAP) scheme, and reintroduce or improve the existing UK Tradeshow Programme (UKTP) grant scheme;
- Wherever possible, produce a visible pipeline of international rail projects that are looking for project finance support from UK Exports Finance (UKEF);
- Re-introduce or continue the ‘Internationalisation' fund by providing seed funding and initiatives to support exporters, especially SMEs;
- Recognise efforts to decarbonise by suppliers in their manufacturing production cycles;
- Make sure that UK railways align with international standards as far as possible;
- Where possible, provide specific support to SMEs wanting to export by including an SME chapter to Free Trade Agreements;
- Provide an assurance that the divergence risk is being accurately assessed through the exports' lens as part of the Retained EU Law Bill.
The Railway Industry Association is the voice of the UK rail supply community, helping it to grow a sustainable, high-performing, railway supply industry, and to export UK rail expertise and products. Over 350 companies are members of the association in a sector that contributes £43 billion in economic growth and £14 billion in tax revenue each year, as well as employing 710,000 people.
Rail is a vital industry for the UK's economic recovery as it supports green investment and jobs across the UK, with every £1 spent on rail generating £2.50 for the wider economy.
Further information about the International Trade Select Committee's export opportunities inquiry is available online at https://committees.parliament.uk/work/7207/export-opportunities/
Commenting, RIA's Exports Director, Neil Walker, said: “UK rail already has a strong global reputation, with the supply chain exporting its world-leading products, services and capability to overseas markets.
“While rail exports are immensely valuable – totalling over £600m in the year before the pandemic started – there is great potential to grow exports more, boosting the country's trade and increasing the resilience of the UK supply chain – for example by creating new SME jobs.
“At a time when the UK Government is seeking to redouble its efforts to build a ‘Global Britain', it is important that support for rail exporters increases in the future. So, we urge the Government to adopt the Railway Industry Association's eight recommendations, from providing more grant support at overseas trade shows and increasing assistance for SMEs, to ensuring UK rail aligns as much as possible with international standards.
“There is much work to be done to realise rail's full potential, and to help UK exports in the years ahead.”
