CEC to Work with CIS Focussed E-Trading Platform - We Need Your Feedback!
CEC is delighted to be working with the VIDIGROUP, a UK based group of entrepreneurs, legal, tech and real estate experts with a passion for the CIS.
We are asking you to take a few moments to provide some market feedback for a dedicated and secure end to end e-trade platform for the CIS. The survey takes only a few moments, please do click here to take our survey - we are keen to work with you and thank you for your support!
In 2020 UK total trade exports decreased by 13% compared to 2019, as a result of the COVID-19 pandemic and the UK's departure from the European Union. However, thanks to new trade agreements with over 60 countries and free from EU regulation, the UK now has the ability to create new trade links in emerging markets across the world. We believe this to be the perfect time to raise the UK's profile and we outline our opportunity below.
Whilst the EU has accounted for a large proportion of UK trade exports (46% in 2019), other emerging markets around the world have arguably been overlooked. Indeed, we have identified the CIS as a region with which the UK can do greater trade with. In 2019 total exports to the CIS region was £9.49 bn, a marginal improvement on the 10-year average of £8.69 bn. The reasons for this low level of trade can be attributed to wider geopolitical relations. Nevertheless, this level of trade is markedly low for a market that benefits from a population of 291 million consumers across 12 countries.
The fact that total exports from the CIS was $601 billion in 2019, yet only 2% came to the UK emphasises this, as China and the EU represented major exports markets instead. Now post Brexit we view this to be a major opportunity for the UK to increase trade with the CIS. This is demonstrated by recently signed UK trade deals with Georgia, Ukraine and Moldova, signalling a vote of confidence in the region, as well as concerted reform efforts by governments to open up for greater trade and foreign investment.