UKTI rebrand becomes DIT Department of International Trade
Shortly after Theresa May took office as the new UK Prime Minister; UK Trade & Investment (UKTI) ceased to exist, and was replaced by the Department of International Trade (DIT) in an attempt to create consistent branding for all departments lead by the Cabinet Office.
DIT will take on all the responsibilities of former UKTI, which was previously overseen by the Department for Business Innovation and Skills as well as the Foreign and Commonwealth Office and the new department will continue to manage the relevant trade functions of these departments. In the wake of the Brexit vote, DIT will also focus on UK Export Finance and negotiating Free Trade Agreements with non-EU countries.
Headed up by new Secretary of State for International Trade, Liam Fox, and supported by Minister of State for Trade and Investment, Greg Hands, Ministers of State for Trade Policy, Lord Price and Parliamentary Under-Secretary of State, Mark Garnier, the team will also be responsible for the extension and creation of trade agreements between the UK and non-EU countries.
Joint Permanent Secretary at the Department for Business, Energy and Industrial Strategy (BEIS), Sir Martin Donnelly, recently stepped down from his role following his decision to help set up the new department as acting Permanent Secretary for DIT. Quoted in a Government press release on 5 September 2016, Sir Donnelly said he was “looking forward to the challenge”.
Whilst the former UKTI now operates under an entirely different name, the department will continue to assist both UK companies wishing to export and international businesses looking to grow their business in the UK.
If you’re a US business looking to export to the UK or a UK business considering your post-Brexit export options in the USA, contact the knowledgeable team at Great British Marketing. With offices in the UK and the USA, we’re well placed to offer expert advice on how you can grow your share of the lucrative market on both sides of the Atlantic.