Eurozone in Growth Boost But Global

Outlook Still Subdued

UK Trade Deficit Widens

EU Plans Revision of VAT System

Netherlands TTIP Protest

British Government Claims Record

Interest in Exporting

UK Late Payments Increasing

GSP Origin Rules Changes

The International Logistics Special

Interest Group - SPECIAL FEATURE

IOE launches free Doing Business

Guides for Germany and Ireland

Understand Incoterms 2010® at your own

pace online

IOE launches shipping office to manage

compliance issues for UK businesses

Institute of Export celebrates

students’ dynamic graduation

success

Why the Institute of Export and its

qualifications are more relevant

than ever

What 2 of our award winning our

students have to say about

studying with the IOE

Foreword The highlight of a busy May was undoubtedly the IOE’s showcase graduation, where we celebrated the achievements of almost 200 students at a vibrant awards ceremony held at Mansion House, London. High-profile figures from the world of international trade acknowledged the students’ success at the Lord Mayor of London's residence where attendees included representatives of Amber Road, Kuehne + Nagel, Norsk Global, Invest NI and Belfast Metropolitan College. Speakers included Alderman, Sherriff Charles Bowman, IOE vice president Lord Empey OBE, Louis Taylor, chief executive of UK Export Finance, IOE chairman Ian Taylor, FIEx, IOE director general Lesley Batchelor OBE, FIEx (Grad) and IOE young president, Arne Mielken MIEx (Grad). The students that received the highest overall score in each qualification were also awarded prizes for their dedication and commitment to their studies. Special congratulations to Emma Foley from Conex Universal Ltd on her Level 3 Certificate in International Trade; Aileen Lamberton from Scottish Enterprise who graduated with a Level 4 Diploma in International Trade and Michael Alexander from Grant Thornton LLP who achieved a Level 5 Diploma in World Customs Compliance & Regulations. Also achieving top marks were Vineeta Manchanda from IBMDS for a Level 5 Diploma in International

Trade; Nicholas Clark from Royal Bank of Scotland for his Certificate for International Trade Advisors qualification - and Jane Smith from Jontine Products (Lincoln) Ltd who achieved the highest score in the Foundation Degree (FdA) Professional Practice in International Trade. UK Export Finance, the UK’s export credit agency, marked a milestone with nine of its export finance advisors graduating with the Institute’s Diploma in International Trade. Supporters of the event included Strong & Herd LLP, CITA World, Felixstowe Trading and Enterprise College, International Market Advisor Ltd, Bibby Financial Services and the Worshipful Company of World Traders. For a full report of this fantastic evening, read the IOE blog. Additional formative developments in May have seen the Institute developing a Shipping Office Service, using the proven skills and experience of its members to ensure that businesses large and small can get on with their main business and not become subsumed by the detail and increasingly complex world of compliance. An in-house shipping department is often the last place anyone looks for modernisation or up to date technology, and it’s usually the last place that business owners consider for staffing or progression too. However, it is clear that this oversight has been to the detriment of many companies – they are losing our beating hearts as the staff that loyally produced the correct paperwork and understood the business are being replaced, at best, with a computer system. This raises two issues. First, how do you get trained staff in place to cover for this loss of skills? And

second, should you consider outsourcing this highly regulated and compliance riddled necessity? On the first point, the Institute of Export has the right qualifications and training programmes to get your staff trained up and proficient. This, combined with the technical helpline, will ensure any company engaged in exporting is operating within the rules of world trade and within the operating guidelines from HMRC. Visit the Institute’s website for the short courses and qualifications available www.export.org.uk. If you are considering outsourcing your shipping office, contact us on +44 (0) 1733 404 400. We are also delighted to announce that the IOE’s Doing Business in Germany Guide and Doing Business in Ireland Guide are now available for free, both online and off. Anyone interested in trading with Germany or Ireland can now visit the websites http://www.germany.doingbusinessguide.co.uk/ and http://www.ireland.doingbusinessguide.co.uk/ to download a PDF version or request hard copy brochures. Alternatively, you can download the Doing Business Guides app from the Apple App Store and Google Play - just search for “Doing Business Guides". The main objective of the Doing Business in… Guides is to provide you with the basic knowledge about the country that will help you to begin exporting your goods and services, including:

Overviews of the economy, business culture, and potential opportunities

Identifying the main issues associated with initial research, market entry, and risk management

Cultural and language issues

Last month also saw our director general, Lesley Batchelor, giving a keynote speech on selling services overseas at Going Global Live. The event - attended by over 3,000 visitors across two days - is Europe’s leading exhibition for businesses looking to expand internationally or set up overseas operations. Finally, as we look forward to June, we would love to see you at IFB2016 - the world’s biggest business festival. Taking place across June 13th – July 1st at the Exhibition Centre Liverpool, it comprises three weeks of business events, speakers, seminars and product showcases for exporters and those with an ambition to trade overseas. Visit the IOE website for more information about our training, qualifications and business membership, or contact us if you have any questions.

Editorial

Eurozone in Growth Boost But Global Outlook Still Subdued Economic growth in the Eurozone economies took a surprise upward turn in the first quarter of the year, with German and France both accelerating. The overall growth rate in the 19 Eurozone countries leapt to 0.6%, putting the region well ahead of other major developed economies including the USA and Britain. But forecasts have continued to be revised downwards as economists continue to fear that global trade will be hit by a continued slowdown in China and the ongoing reversals in Brazil and Russia. Japan also saw a marked improvement in Qtr 1, avoiding going back into recession with 0.4% growth.

UK Trade Deficit Widens

Britain’s trade deficit continued to grow in Qtr 1, with a £34.7bn gap between exports and imports being reported. The deficit was £1.4 by higher than in the final quarter of 2015. Howard Archer, chief UK economist at HIS Global Insight, described the figures as “Truly horrible. A performance that weighed down on GDP growth.” The deficit was the biggest in eight years, and was particularly affected by a jump in the deficit with other EU countries.

EU Plans Revision of VAT System The European Commission has published plans intended to make the VAT system simpler, as well as increasing protection against fraud. The Commission believes that increasing amounts of VAT payments are being avoided through fraudulent trading. The proposals include the introduction of a single Europe-wide VAT area, and methods to facilitate exchange of information on VAT fraud. There are also plans to simply VAT for cross-border e-commerce and a simplified package for SME’s to make it easier for them to trade across borders.

Netherlands TTIP Protest The proposed Transatlantic Trade and Investment Partnership has run into more trouble, with an online petition in The Netherlands reaching large numbers. Just weeks after the Netherlands government faced off a petition opposing the EU trade deal with Ukraine, the new petition quickly reached 100,000 signatures. If it reaches 300,000, the government has to hold a referendum on the issue, although it does not have to be binding. The controversial treaty has attracted mass protests in a number of EU countries, and recently the French government has expressed concern at certain aspects that are thought to be included. The issue has become a point of disagreement in the UK’s referendum, which sees the country go to the polls over its future in the EU on 23rd June.

British Government Claims Record Interest in Exporting Record numbers of businesses are looking to export, according to figures released following the Exporting is GREAT Week in April. More than 20,000 applications for export opportunities had been received. Trade and Investment Minister Lord Price said: “The development of digital technology has the potential to give even the smallest company a global reach and access to new markets”.

UK Late Payments Increasing Euler Hermes has reported a 12% increase in delayed payments from October to December 2015. The report found an increase in 14 of 17 major industrial sectors. They are predicting ‘challenging times’ ahead, and suggesting that firms tread carefully when offering credit terms to new customers.

GSP Origin Rules Changes The rules of origin for goods imported to the EU under the Generalised System of Preferences (GSP) are under review, which are expected to come into force in January 2017. The proposed changes will require EU importing companies to complete a registration process, and some of the current forms will be removed from the system.

International Trade Events Our roundup of what’s on in the coming months.

International Festival for Business 2016 – 13 June to 1 July - Liverpool

Make Europe Work!® Trade Conference at IFB2016 – 14 June - Liverpool

Global Economic Forum 2016 - IBDE - 14 June 2016, Liverpool

UK Trade & Export Finance Conference – 15 June - Liverpool

Export Excellence Awards – 15 June - Liverpool

Seminar: Import and Export Compliance in the Digital Age - 28 June 2016, London

COBCOE Make Europe Work! Trade Conference - IFB 2016 – 15 June - Liverpool

Chatham House Global Trade 2016 Conference - 11 July 2016, London

Chatham House Global Trade 2016

11 July | 1 day conference Royal Society of Arts | London With global growth slowing and significant trade agreements under negotiation, it is a critical time to re-examine the evolution of global trade governance, the outlook for trade finance as well as the effect of growing service-based and digital trade on the global economy. Key questions for discussion include:

What trade patterns are likely to emerge globally?

Will trade agreements move towards the mega-regional, such as TTIP and TPP?

What impact might a lack of access to credit have on the development of the global market? Speakers include:

Maria Åsenius, Head of Cabinet to the EU Commissioner for Trade

Anthony Gardner, US Ambassador to the European Union

Lord Jim O’Neill, Commercial Secretary to the Treasury, UK

Steven Beck, Head of Trade Finance, Asian Development Bank

Anabel Gonzalez, Senior Director, Trade and Competitiveness Global Practice, The World Bank Group

Dr Cho Khong, Chief Political Analyst, Shell

Hanne Melin, Director, Global Public Policy, Ebay

David Weller, Head of Global Trade Policy, Google

Professor Kerry Brown, Director, Lau China Institute, King's College, London Register online now or contact Alex Cook on +44(0) 20 7957 5727 for more information.

Please let us know if you have any events you would like listing here or on the website

Forthcoming Training Courses No matter what level you are at, our courses will give you the skills and expertise you need to gain a competitive advantage in the challenging and complex world of international trade. 07/6/2016 An Introduction to Exporting - Physical Goods - Peterborough 07/6/2016 International Documentation & Customs Compliance - Manchester 09/6/2016 An Introduction to Importing - London 23/6/2016 An Introduction to Exporting - Physical Goods – Manchester 29/6/2016 Advanced Financing of International Trade – London* NEW COURSE! 30/6/2016 Letters of Credit - Manchester 05/7/2016 An Introduction to Exporting - Physical Goods - London 07/7/2016 Letters of Credit - Birmingham 19/7/2016 An Introduction to Exporting - Physical Goods - Birmingham 19/7/2016 International Documentation & Customs Compliance - London 26/7/2016 International Documentation & Customs Compliance - Birmingham 24/8/2016 An Introduction to Exporting - Physical Goods - Manchester 25/8/2016 Letters of Credit - London 30/8/2016 International Documentation & Customs Compliance - Manchester 31/8/2016 An Introduction to Exporting - Physical Goods – Peterborough 07/9/2016 Effective Incoterms® - London 08/9/2016 UK & US Export Controls: A Basic Understanding - London 13/9/2016 An Introduction to Exporting - Physical Goods - London 13/9/2016I nternational Documentation & Customs Compliance - London 20/9/2016 International Documentation & Customs Compliance - Birmingham 20/9/2016 UK & US Export Controls: A Basic Understanding - Birmingham 21/9/2016 An Introduction to Importing - London 22/9/2016 An Introduction to Exporting - Physical Goods - Birmingham 29/9/2016 Letters of Credit - Manchester Benefits of training:

Enhancing trading performance Raising standards of professionalism in international trade Creating competitive advantages One of the top providers of International Trade Training. Courses start from only £260 (for members).

Special Feature

The International Logistics Special Interest Group Focused on the international supply chain, “The International Logistics Special Interest Group” (TILSIG) aims to provide members and non-members with a centre of excellence. Activities will include regular meetings and networking opportunities at events. In addition actual and virtual group support mechanisms are being developed. By these aims the SIG will further the interests of The Institute of Export with particular regard to export/international logistics. A substantial and growing list of members have expressed interest in TILSIG although only limited publicity has occurred to date. It clearly resonates with what many IOE members do. A wide range of companies are represented and include both the providers of logistics services as well as personnel whose role is concerned with international supply chain functions within a trading company. The companies involved include some well known names such as Cambridge University Press, Bibby Factors, Bolero, OCR Global, INTEL and UNILEVER. The representation involves personnel from administrators to managing directors. The second Steering Group meeting of TILSIG was convened at Essentra in Kidlington, Oxford on Wednesday 1st June 2016. This meeting discussed interests identified by respondents to date and how TILSIG could best deliver value to its members. After considering a wide range of subject areas and how these could be realised it became clear the potential of TILSIG is limited only by its ambition, its resources and the needs of its members. Initially the organisation will provide presentations and a forum for discussion on topics of particular interest to members. It is possible to participate in TILSIG meetings physically or virtually via a conference call or Skype. Interested parties are invited to email TILSIG@export.org.uk with their contact and location details if they want to get involved. Special Interest Groups (SIGs) are a key development that followed our new articles of association in November 2014. Along with some former branches that have been reformed as SIGs (e.g. Coventry & London) the national appeal of TILSIG is a new dimension for IOE. SIGs aim to further the objects and policies of the Institute and its status as a registered charity by raising awareness of and growing expertise in particular areas of international trade activity that form the SIG. The SIGs function through meetings and forums, both actual and virtual, where practitioners can network to share and discuss experiences and issues concerning the Special Interest, as well as formulating strategies for dealing with problems. By opening the SIGs to non-members the IOE aims to encourage all practitioners to appreciate the benefits of membership of the Institute. As shown by the developments to date a SIG’s interest can be regionally or nationally focused; it can be concerned with a professional discipline focus such as logistics or localised international trade activity in place of the branch system.

IOE News

IOE launches free Doing Business Guides for Germany and Ireland We are delighted to announce that the Doing Business in Germany Guide and Doing Business in Ireland Guide are now available for free, both online and off. Anyone interested in trading with Germany or Ireland can now visit the websites; download a PDF or e-Flipbook version (click here for Ireland and here for Germany); download an app (from both the Apple App Store and Google Play Store); or request full colour, hard-copy brochures (by emailing us). The main objective of the Doing Business in… Guides is to provide you with the basic knowledge about the country that will help you to begin exporting your goods and services, including: Overviews of the economy, business culture, and potential opportunities Identifying the main issues associated with initial research, market entry, and risk management Cultural and language issues We do not pretend that this guide provides all the answers, or a formula for guaranteed success, however novice exporters in particular will find it a useful starting point and we have signposted to other sources of help and information as much as possible. Further assistance is on hand from the UK Trade & Investment teams in Germany and Ireland, for whom full contact details can be found in the guides.

In order to take your business to the next level, we have also carefully selected a variety of essential service providers as Market Experts, including Commerzbank, Luther, and Deutsche Post in Germany and Ulster Bank, TMF Group and Am Post in Ireland. The guides are the latest in a series produced by the Institute of Export, with invaluable support from AST Language Services, British Chamber of Commerce in Germany, British Irish Chamber of Commerce, British Embassy Berlin, British Embassy Dublin, British Expertise, IDA Ireland, UK Export Finance, and UK Trade and Investment. Lesley Batchelor, Director General of the Institute of Export, said: “Our Doing Business Guides are an important part of our work to embed professionalism in international trade. The Guides give new exporters the opportunity to think through the relevant market issues and plan a route-map for a successful exporting journey.” About Germany In 2015, Germany had a GDP of more than USD $3.85 trillion, averaging out to USD $39,717 GDP per capita. This makes it not only the largest economy in Europe, but the fourth strongest economy in the world. Its consistently strong economic performance offers long-term growth potential for UK businesses, as domestic demand is rising.

The country’s highly developed infrastructure, stable economy and location in the middle of Europe make it especially attractive for foreign investors. Many studies have named Germany as one of the most attractive investment locations in the EU and, as such, the country continues to receive

large amounts of Foreign Direct Investment. The business environment is well-regarded around the world for its integrity, safety, reliability and transparency and the government provides a number of investment incentives at both a regional and federal level – making it a promising business destination. About Ireland The Republic of Ireland covers an area of about 70,000 sq km. It is the UK’s fifth largest export market and imports more from the UK than any other country. In 2014, exports of goods and services from the UK to Ireland totalled £27.86 billion. Ireland is the UK’s largest food and drink export market, and second largest market for clothing, fashion and footwear. Trade in other sectors continues to grow. Two-way trade stands at over EUR €1 billion per week. Ireland is an ideal first-step market for UK companies, ranked 17th out of 189 in the World Bank’s 2015 Ease of Doing Business index (the UK ranked 6th). Although economic challenges remain, Ireland’s GDP is forecast to continue growing over the next two years. The Central Bank of Ireland has forecast GDP growth of 4.8% in 2016. Visit this link for more information on our Doing Business Guides. Download the FREE Mobile-App! Simply search ‘Doing Business Guides’ to download!

Understand Incoterms 2010® at your own pace online

The Institute has long believed that flexible and accessible learning is vital to enhancing the UK’s export performance. To this end, one of our most valuable courses for practical export insight, Understanding Incoterms 2010®, is now available online – and accessible 24/7 from anywhere in the world. Developed by the International Chamber of Commerce (ICC), the Incoterms – International Commercial Terms – rules are designed to ensure that the obligations of all parties involved in international transactions are clearly understood. Developed and maintained by experts and practitioners brought together by the ICC, they have become the standard in international business. We recommend that all of our members who are exporting physical goods are well versed in the Incoterms 2010® regulations, as it is crucial that there is no confusion over who is responsible for delivering the goods and paying for transport. Adhering to the Incoterms® 2010 rules removes the risk of misunderstanding the obligations of each party – even when parties are based in different countries.

The course comprises 14 modules that will take you through all the elements of understanding International Commercial Terms, and how to select the correct one for your international transactions. These global shipping terms have a major importance in exporting and importing products from around the globe. Students will learn the relevant terminology to better understand how to cover the risks and responsibilities between the buyer and seller, their obligations to each other for the shipment – along with the allocation of costs. As this course covers all aspects of Incoterms 2010, it is relevant for those who may be new to exporting and to experienced business people who need to keep up with industry developments. The course provides examples highlighting the benefits of using Incoterms – both from an operational and commercial point of view, providing practical insights – as well as highlighting why it is so important to understand each of these terms to ensure successful and efficient global business. Each module will be delivered through a series of informative slides, followed by interactive questions. Once all 14 modules are successfully completed, learners will be able to print off a certificate of completion. IOE Director General, Lesley Batchelor, said: “We have always been mindful that export is vital for the growth and prosperity of every region. Providing courses online truly brings a world of opportunities to people’s doorsteps, and enables individuals and businesses to learn at their own pace and balance learning with full time work.”

You can register for Understanding Incoterms® 2010, on the IOE website.

Import and Export Compliance in the

Digital Age

28 June 2016, 09:00 - 16:30 Radisson Blu Edwardian Vanderbilt

Hotel, London

As the world becomes ever more globalised and digital, the potential for

businesses to reach customers in lucrative new markets beyond the UK

has never been greater.

Amber Road would like to invite you to a complimentary seminar on Import and Export Compliance in the Digital Age on June 28th at the Radisson Blu Edwardian

Vanderbilt London. Meet with world class experts who will share best

practices for trade compliance in today´s digital world.

You won't want to miss this informative

seminar. Reserve your seat today!

Registration Deadline: June 22, 2016

IOE launches shipping office to manage compliance issues for UK businesses The Institute of Export has launched a dedicated Shipping Office to enhance our ongoing mission to professionalise international trade and implement best practice. Using the proven skills and wealth of experience at our disposal, this service has been designed to help companies large and small to focus on their main business – instead of being subsumed by the increasingly complex world of international logistics compliance. We know that an in-house shipping department is often the last place anyone looks for modernisation or up to date technology, let alone staffing or career progression. However this oversight has been to the detriment of many companies – the staff that loyally produced the correct paperwork and understood the business are being replaced, at best, with a computer system. So it is with these considerations in mind that we have developed this service to enable companies to outsource this highly regulated and compliance-riddled necessity. If you’re not sure what to expect from an outsourced shipping department, here are our top 10 tips to ensure your relationship will run smoothly:

1. Check that the shipping office has all the relevant knowledge about your product or service. This will mean investing time and resource at the beginning of the project to ensure that the outsourced department is familiar with your products. This includes finding the appropriate Harmonised Codes for your products as this will tell customs what tariff rates to use. It is your responsibility to give this information to the outsourced department as it is yours to tell the freight forwarder if you continue to do this internally. You cannot rely on anyone else to do this for you as the final responsibility for customs declarations lies with your company – not an agent or forwarder. It’s easy to get this right as you know your products better than anyone else. Please note that you may occasionally be asked by

some customers to change or simplify your code as it will make duties lower in their market – however this is not legal and must be ignored.

2. Set a clear Service Level Agreement and agree terms that you think fair and you know you can work with. As this is an agreement, both parties need to agree to the terms.

3. Decide if the outsourced shipping department will book and manage the shipment of the goods as well as the paperwork.

4. Does the ecological nature of the delivery impact on your cargos? If yes, you will need to ensure that the brief includes freight issues and which type of transport is best for you.

5. If you have any goods that might possibly be considered dual use you will need to consider how you can help the shipping department to create the correct filing and use the relevant export control software. You may also have issues around sanctions that have been imposed on your market or a market you think might be lucrative. It is important to have support and up to date information on how this might impact on your business. Although you will normally know if you manufacture goods or develop software that is subject to export controls, a good shipping department will help with this when setting up the agreement.

6. Calculate how much you spend currently on this activity in-house and therefore how much would represent a good price if outsourced. This should include pay, NI, holidays, training, office space etc. It soon mounts up and it is not just the shipping department but also the finance department that gets involved collecting payment and needing documents to be correct.

7. It could also be useful to outsource the packing of your goods. International orders and packing is a specialist activity and it may be sensible to look at liaising and developing a good understanding with your shipping department to ensure that they are happy to advise when necessary on these issues of packing and marking goods. A good packing list will also help your goods to travel across borders more easily.

8. Order tracking is now part of most freight companies’ software but it should be clear what sort of access you or your customer would need to support them and ensure a sustainable business relationship.

9. Communication between the two organisations is important and it may even make sense for a ‘white labelled’ shipping department telephone line or email to be set up to ensure your customer receives updates or can ask questions with quick responses. Know how problems will be solved and make sure you’re aware for your CRM or client facing staff’s sake.

10. Finally, there are many issues that surround insurance and these need to be understood and agreed. You will need cargo insurance, (in-transit or marine) and product liability and even professional indemnity and cyber insurances may be needed, so check that you know what would happen if you lost or damaged your data or goods.

This is not a definitive list but it will help you to think through the issues of outsourcing your shipping department and whether or not it makes sense for your business. Remember the impact of global security concerns is also being felt by the world of trade and compliance is not red tape but for everyone’s safety. If you would like more details on using the Institute’s shipping office please call +44 (0) 1733 404 400.

Institute of Export celebrates students’ dynamic graduation success The achievements of almost 200 students graduating from the Institute of Export have been celebrated at a vibrant awards ceremony held at Mansion House, London. High-profile figures from trade and industry sectors and the world of international trade acknowledged the students’ success at the Lord Mayor of London’s residence where attendees included representatives of Amber Road, Kuehne + Nagel, Norsk Global, Invest NI and Belfast Metropolitan College. Speakers included Alderman, Sheriff Charles Bowman, IOE vice president Lord Empey OBE, Louis Taylor, chief executive of UK Export Finance, IOE chairman Ian Taylor, FIEx, IOE director general Lesley Batchelor OBE, FIEx (Grad)

and IOE young president, Arne Mielken MIEx (Grad). Special prizes for highest overall scores The students that received the highest overall score in each qualification were also awarded prizes for their dedication and commitment to their studies. Special congratulations to Emma Foley from Conex Universal Ltd on her Level 3 Certificate in International Trade; Aileen Lamberton from Scottish Enterprise who graduated with a Level 4 Diploma in International Trade and Michael Alexander from Grant Thornton LLP who achieved a Level 5 Diploma in World Customs Compliance & Regulations. Michael, executive (customs and international Trade) at Grant Thornton LLP, commented: “The qualification has really expanded my understanding of customs and international trade. The diploma has given me the confidence to understand issues, and recommend solutions which can provide real benefit to clients.

The course gave me an understanding that the legislation is key: although often helpful, guidance cannot be relied on, and the legislation is key to understanding the law.” Also achieving top marks were Vineeta Manchanda from IBMDS for a Level 5 Diploma in International Trade; Nicholas Clark from Royal Bank of Scotland for his Certificate for International Trade Advisors qualification – and Jane Smith from Jontine Products (Lincoln) Ltd who achieved the highest score in the Foundation Degree (FdA) Professional Practice in International Trade. Jane said: “I wanted to ensure that I understood the requirements of trade and export from both a legal and good practice perspective. The course was distance learning over two years, allowing me flexibility to study alongside running the business. “I was able to implement change and improvement from within a supported learning environment. The course content proved to be entirely pertinent to

my business and I cannot hesitate in recommending it.” Nicholas Clark, regional head of Trade & International, North Region RBS/NatWest commented: “International companies need to be cognisant of a wide range of factors to be successful in trading internationally. It is important in my role to have a good knowledge of these areas to provide customers with appropriate support and solutions; the course syllabus covers the breadth of the disciplines required. The flexibility of study, allied with my organisation’s commitments to personal development, enabled me to tailor my learning to maximise access to the course content and develop my understanding and knowledge of the diverse topics covered in a way which worked for me.” UK Export Finance marks milestone achievement UK Export Finance, the UK’s export credit agency, is marking a milestone with nine of its export finance advisors graduating with the Institute’s Level 5 Diploma in International Trade. Louis Taylor, chief executive of UK Export Finance, commented: “I would like to offer my congratulations to all the students graduating this year with Institute of Export qualifications, and I am delighted to see so many UK Export Finance colleagues among them. Graduating from an Institute of Export programme is a huge personal achievement. It is also of great benefit to employers, and I am delighted that UK Export Finance is one of the many employers investing in their people by supporting them through these qualifications.” Qualifications bring wide-ranging benefits

The continued success of both the practical and academic qualifications offered by the IOE is attributable to its continued commitment to quality, variety, and accessibility – providing theoretical knowledge and useful practical guidance for those just starting out in international trade along with seasoned exporters and exporters taking on a new challenge. The Institute’s programmes include a foundation degree in Professional Practice in International Trade, developed in collaboration with Anglia Ruskin University; a BSc (Hons) in Management Practice – International Trade, delivered with Plymouth University, and an MSc in International Trade, Strategy and Operations, offered in conjunction with Warwick University. Vineeta Manchanda of IBMDS explained: “The IOE’s Diploma in International Trade has helped me to transition from a career in international finance to setting up an online fashion business, selling internationally. I developed my business case through the assignments set and considered issues that may have otherwise been overlooked. A systematic study of international e-commerce was helpful. “With no prior direct experience of international trade, the course allowed me to focus my case studies on areas of particular relevance. In studying logistics I was fascinated to look at Zara as a case study – I have even been known to talk about Zara’s logistics at dinner parties!” IOE director general, Lesley Batchelor, said: “It’s tremendous that so many businesses are investing in equipping their employees with the skills to maximise the wealth of opportunities in international

trade and we wish our graduates continued success. The breadth of courses we offer reinforces our ongoing commitment to embed professionalism in international trade.” Experience and professional guidance The IOE’s education team was highly praised for the support they provided throughout the academic year, with Anand Harrilall, a graduate of the Level 5 Diploma in International Trade, singling out director of education Kevin Shakespeare for his guidance. Anand said: “I’d like to express my gratitude for the timely support and guidance you provided throughout the Diploma. You have been very patient, insightful and extremely responsive. Having very little time to complete the programme, I’d only expected to achieve a pass (though I’d hoped for at least a credit). I never expected a Distinction – this feat would not have been possible without your timely feedback and guidance.” Supporters of the event included Strong & Herd LLP, CITA World, Felixstowe Trading and Enterprise College, International Market Advisor Ltd, Bibby Financial Services and the Worshipful Company of World Traders.

Graduation Gallery

Why the Institute of Export and its qualifications are more relevant than ever by Louis Taylor, chief executive of UK Export Finance

Last week, I was pleased to attend the Institute of Export’s graduation ceremony to celebrate the success of almost 200 international trade professionals. I offer my congratulations to all of the graduates and students. It’s a remarkable achievement, particularly as so many of them have managed to undertake these studies at the same time as holding down a full-time job. I feel great personal pride when I say I was particularly delighted to see some of my colleagues among the graduates. Carlos Guallart, Hugh Francis, Anne Lockett, Elizabeth McCrory, James Bowker, Patrick Crowley, Paul Wright, Phill Potter and Steve Cowles successfully completed the IOE level 5 Diploma in International Trade – as well as Mathew Hughes, who collected his diploma from 2015.

Well done to all of the graduates– particularly my colleagues. This is a huge personal achievement. My involvement in an organisation with the word ‘export’ in its name began about seven months ago. My time at UK Export Finance has been an outstandingly exciting, and I’m absolutely convinced of how worthwhile an organisation it is, helping companies to export where otherwise they could not. Exports are front and centre of government policy at the moment. There are ambitious targets for exports – £1 trillion worth of exports by 2020, and not just 100,000 exporters but an additional 100,000 exporters by 2020 as well. In the media, we often see quite a lot of negativity about the UK’s trade performance, and I think that is largely due to the balance of payments deficit that we have run for some time. That is undoubtedly itself an issue – one of the solutions to which is more exports – but it is far from being the whole story. For example, we rarely hear that the UK is the sixth-biggest exporting country in the world. We rarely hear that we are second only to the US in the export of services. We are right to be boldly ambitious for exports of goods and services, and we undoubtedly have scope to perform better than we are. But we should not be in any way defensive about the base from which we seek improved performance in the UK. And the nature of our performance is changing. The growth in the export of services is much more rapid than the growth in the export of goods. This is not in itself a bad thing, but a real change in the picture. The UK economy remains a creative powerhouse, and commercialisation of that

creativity is the key to hitting the export targets that we have. My own organisation has tended to help the exporters of large goods far more than the exporters of services or intellectual property. I am convinced that the growth of our business will in future reflect more the changing makeup of the UK economy than it does at the moment. Our mission, simply put, is to ensure that no viable UK export – of goods, services or intellectual property – fails for want of finance or insurance from the private sector. Last week’s graduates are part of a business world that is changing more rapidly than ever and in so many ways. For example, in technology, there are huge developments in fintech, biotech, agritech, pharma, and electronics. There are also changes in regulation, turning the banking and insurance industry upside-down. Supply chains are changing, becoming more globalised, and logistics are becoming an increasingly important part of the global economy. There are a host of other changes. So, how do we progress our export effort with so much change going on? The answer has to be: through education, through know-how, and through skills. Looking at the syllabus of the IOE’s Diploma in International Trade, just one of its many courses, it is reassuring to see not only how relevant it is to exporting (a given), but also how future-proof it is. For example, the ability to develop strategic marketing plans across a range of products and services, within a range of geographies – that need will endure, regardless of the economic weather. Similarly, understanding supply-chain management, the logistics of international trade, and – of course I’d say this – the financing

of international trade are all key elements in understanding how to approach an export campaign. Our Export Finance Advisers in particular spend much of their days with exporting companies. That is why we put them through the formal qualifications that the Institute of Export offers. The Institute is uniquely placed to provide high-quality professional development for international trade. Our people understand the constraints and concerns that companies have, and with the Institute’s help are able to assist companies in overcoming those. The Government as a whole has renewed its focus on empowering more UK businesses to sell overseas, helping them to realise the opportunities presented by the global marketplace. But engaging in international trade can be complex. For companies exploring business in overseas markets the Institute can provide a vital lifeline – giving them the knowledge and skills to get the essentials right when they agree contracts or terms. The conversations that we at UKEF and colleagues across Government have with exporters can touch on a number of these issues. We speak to companies struggling to find finance, or concerned about not being paid by their buyers. They may not know a solution exists. A simple conversation can bring that out, but only if the adviser has the commercial knowledge to understand what help is wanted. So the IOE is a key partner for UKEF, and increasingly for many other companies looking to grow exports. 80 years young, with very capable leadership from Ian Taylor and Lesley Batchelor, today the Institute is more relevant than ever.

Congratulations once more to the graduates, whom I would like to wish the best of luck in their careers in international trade. The role they play, growing the UK economy is a vital one, and one for which they are now well-equipped.

What 2 of our award winning our students have to say about studying with the IOE This year, nine UK Export Finance staff graduated with Institute of Export Diplomas. Carlos Guallart, Export Finance Adviser for Scotland, and Hugh Francis, Export Finance Adviser for the South West, both won awards for high scores in their exams. We caught up with Carlos and Hugh to find out what the Diploma means to them as they go about their jobs, helping companies access the finance and insurance they need to export. 1. What’s the most rewarding part of your role as an Export Finance Adviser? HF: The most rewarding thing by far is having both the knowledge and experience to provide real, practical help and support to UK exporters, helping to make exports happen. CG: For me, it’s being able to support such a wide range of companies as they develop their export sales. As a UKEF export finance advisor, I am able to offer a range of products and services to help UK companies to grow internationally, winning orders that otherwise they would not have been able to. 2. How relevant is the diploma to your job? CG: Very relevant – it has given me a very useful set of tools which I am able to apply in the course of my day-to-day role advising Scottish companies on finance and insurance for exports. I found that the course expanded my knowledge in areas such as logistics, international marketing and distribution, enabling me to better support Scottish exporters.

HF: What I learned on the course will assist me in a number of scenarios, especially as I work with such a wide range of people involved in exports, including business owners, export managers, bankers and legal / accountancy professionals across the South West. It has already been extremely useful, whether discussing export trade in general, or guiding customers in detail on specific subjects such as shipping or finance in relation to an export transaction. 3. How useful is the diploma for would-be or existing exporters? CG: I think it would be very useful for companies to improve their understanding of international markets and the specific challenges of trading abroad, and this Diploma is a good way of doing that. For example, the course provides an in-depth understanding of international payment methods, risk management, transport options and the different regulatory environments. HF: I agree, and I think the diploma would be especially useful to companies that are new to exporting, as you learn about risks and considerations when exporting. As a first-time exporter you may not be aware of these. 4. How important is the flexible nature of the course? CG: Very important – the distance learning model of the course provided me with the flexibility to do a demanding full-time job and complete the modules comprising the Diploma. HF: I really appreciated the fact that the course was so flexible, with regular conference calls and easy accessibility to course tutors, which is useful when you have

other professional and personal demands on your time! 5. How would you describe the programme in three words? HF: Challenging, rewarding, beneficial CG: For me, also challenging, as well as recognised and flexible

Hugh Francis MIEx

Carlos Guallart MIEx

And finally Fun Facts! Did you know.......?

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The word Spain means "the land of rabbits."

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