In addition to the New Zealand and Australia trade deals, negotiations have started for Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Canada, US, and India. There are also negotiations set to start with Mexico, Israel and the Gulf Cooperation Council (GCC). These trade deals will cover much more than agricultural trade, but for food and drink there will be key opportunities in processed food, value-added products such as cheese, high-value cuts of meat and for meat cuts not demanded in the UK.
Another opportunity stems from the growing population and growing affluence. As the population is set to increase to 9.7 billion by 2050 there is going to be a greater demand for food across the world, especially for goods that appeal to a growing middle class. There may be opportunities for the UK to benefit from this expanding demand, and AHDB is working to explore these opportunities, as well as supporting access in key markets across the globe.
The attention is now on the UK’s progression towards a ‘great trading nation’. The process of rolling over the EU trade deals has been largely successful. However, the important point is that the EU still accounts for the majority of UK exports, although this has decreased compared with the analysis in 2019. A fundamental point is that trade with the remaining countries represents a much smaller share of UK exports compared with the EU.
As more FTAs are signed, UK exports are likely to expand into new markets. AHDB international consumer insight will help the industry understand and exploit that demand where it exists.