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26 February 2010 10:57
British manufacturers could save millions of pounds in import duties through an EU scheme promoted by the Department for Business, Innovation and Skills (BIS).
Companies that are unable to source the materials they need to manufacture their products from within the EU could be eligible to import those materials duty-free by applying to the EU Duty Suspensions & Tariff Quotas Scheme.
Currently UK companies save over €30 million per year through the scheme - a figure that rose by €4.6 million in the first half of 2010. But this could rise even higher if more manufacturers were aware of the scheme and how easy it is to apply.
BIS is urging UK manufacturing companies to take the opportunity to find out more ahead of the 15 March deadline for the first round of this year’s applications.
Lord Davies, Minister for Trade, Investment and Small Business said:
"This scheme can help businesses save much-needed cash during these tough times, offering them the opportunity to grow and expand their company. It also makes a real contribution to enhancing the competitiveness of UK manufacturing.
“Feedback from business shows the scheme is highly-valued and easy to use, so I strongly advise firms to get in touch with BIS to find out if their business can qualify."
Tom Brown, Technical Manager of Holders Technology, a distribution company importing materials for the circuit board industry, saved his customers thousands of pounds in import duties last year by applying for the scheme on their behalf.
He said:
"I found the process straightforward and was impressed at how smoothly it went. BIS were helpful and kept me updated on the progress of the application. The successful outcome is very welcome and strengthens the position of the UK circuit board industry within the global market."
J.O. Sims, a UK fruit supplier, also succeeded in saving money by accessing the scheme. Commercial Director, Kevin Matchett said:
“One of our partners felt the duty we had to pay to import cranberries was unfair and to some extent was hampering the growth of our business.
“Once we were in touch with BIS, they held our hand through the process and having someone help us with the application made it happen much quicker. We’ve found it so useful that we’re now looking at some other products we import to see if there are unfair duty loadings on those imported goods as well. “
Companies can find out more about the EU Duty Suspensions & Tariff Quotas scheme at: http://www.berr.gov.uk/whatwedo/europeandtrade/importing-into-uk/duty-suspensions-quotas/page23164.html
Notes to editors:
1. To be eligible for the scheme, companies need to be paying €20,000 or more a year in duties. However, companies bringing in the same product can band together when applying for the scheme
2. The scheme suspends import duty if there is no EU manufacturing of the raw materials or components concerned
3. There are currently over 1,200 duty suspensions across manufacturing industries, including food & drink, chemicals, plastics, leather, textiles, ceramics, metals, white goods, electronics, automotive, scientific and medical equipment
4. Duty suspensions last five years and are automatically renewed if there is still no EU manufacturing of the component
Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is building a dynamic and competitive UK economy by: creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this it will foster world-class universities and promote an open global economy. BIS - Investing in our future.
Contacts
NDS Enquiries
Phone: For enquiries please contact the above department
ndsenquiries@coi.gsi.gov.uk
On Tuesday 19th January the Prime Minister, Lord Mandelson (Secretary of State for BIS) and Alistair Darling (Chancellor) launched a new publication :
containing further proposals for a European Compact for Jobs and Growth to address the key challenges Europe faces over the coming decade. A Compact to ensure coherence between the existing tools and pillars of EU economic policy, including the Stability and Growth Pact, a structural reform programme to succeed the Lisbon Strategy and financial services reform.
Further information on Economic Reform can be found at
'Simplifying Trade Across UK Borders' – A Plan of Action sets out measures to boost trade by reducing the red tape faced by businesses at UK borders. Measures include making greater use of electronic processes to reduce paperwork and better coordination between border agencies to streamline movement of goods in and out of the UK.
You can find put more at
The next decade will be critical in Europe’s economic history, and the incoming European Parliament and European Commission will face many challenges. Supporting a recovery that delivers jobs and prosperity will be vital. Beyond this we, as Europeans, must equip workers and companies with the skills, resources, and regulatory environment to allow them to respond effectively to the pressures of globalisation. Only by investing in our capacity to produce high-value goods and services can we hope to sustain the standard of living and public services that our citizens expect and deserve.
This publication sets out key areas where EU action can have the greatest impact to ensure EU businesses can compete in a global marketplace, and highlights the importance of an integrated approach to EU industrial policy and the future of the single market. Translations are also available below in French, German, Spanish and Italian to view go to
By working in partnership with other Member States and EU institutions, together we can strengthen the building blocks of our common economic future.
The EU Advisory Group to BIS has published its first major communication. The Group consists of businesses, business organisations, the TUC, academics and experts and advises BIS on high level EU policy. This paper has been submitted to BIS specifically to inform policy work on UK priorities for EU economic policy under the new European Commission and European Parliament.
The Group's paper sets out recommendations in areas which it believes are vital for future economic policy in the European Union over the duration of the new European Commission and new European Parliament. To view the paper and to obtain further information on the Group, please use the link below:
"The Government is carrying out a major review into the cost of international trade regulation. It intends to prepare an action plan on what could be done to reduce the compliance burden that UK businesses face when they trade internationally." The review, announced in the November 2008 Pre-Budget Report, is a major political commitment.
Former Trade policy minister, Gareth Thomas, said, "International trade is vital not just for the global economy but for our domestic prosperity. To help UK firms thrive in the competitive global marketplace we want it to be as simple as possible for them to comply with trade rules."
The Government has asked its partner trade facilitation body SITPRO to carry out the consultation.
In order to view and contribute to the consultation please visit: http://www.sitpro.org.uk/regreview/consultation.html
BIS has launched a new publication outlining the services that it provides to UK firms to help them trade with other countries. It provides information on where firms can access general advice as well as where they can obtain more specific assistance to overcome barriers to international trade.
To view the booklet, please click on the following link :
(1914KB)