“The UK is, and always has been, a trading nation. But in recent years, we’ve seen imports grow rapidly in value, while export growth has lagged well behind,” Gail warned in her opening address.
The UK’s agri-food deficit is now around £3.5 billion a month. “This represents untapped potential,” Gail explained, with opportunities to grow the value and volume of UK exports and to displace imports with high-quality, home-grown products.
Speaking as part of a panel session on ‘growing trade’s resilience’ – Gail took questions from the audience on the future of UK trade alongside Efra Committee Chair Alistair Carmichael, Managing Director at Euro Quality Lambs Rizvan Khalid, and Interim International Director for the Scotch Whisky Association Emily Weaver Roads.
“From an international trade perspective, things are going to continue at pace in the year ahead.”
NFU Head of Trade and Business Strategy Gail Soutar
In no other sector are export opportunities so clearly demonstrated than Scotch whisky as Emily told the audience these make up one quarter of all UK food and drink exports.
“But we face challenges that are familiar to everyone in this room,” Emily said. “Geopolitical and trade volatility, reduced consumer confidence and spending power, and increased costs of doing business.”