71% disagree that the Trade and Co-operation Agreement is helping their business to grow
There have been mixed reviews on the Trade and Co-operation Agreement (TCA). In the latest survey conducted by the British Chambers of Commerce 59 comments were received on the advantages of the TCA but 320 comments focussed on the disadvantages. You can read more below and link through to the full article on our website.

Our next International Trade Club event takes place tomorrow afternoon. If you have not registered your place, please do so using the link below. This event looks at the new VAT landscape post-Covid and Brexit.

This week we also list our forthcoming training courses and events and provide the latest trade updates.

If you have any queries please email the International Trade team at internationaltrade@cambscci.co.uk or telephone 01223 237414.

Karen Cash
International Trade Team Leader
Post-Brexit and Covid: VAT IT explores the new VAT landscape
Tomorrow - Wednesday 23 February, 4.00-5.00pm

As UK Businesses start opening up again following the difficult period, VAT IT is using its 20 years’ experience to take an in-depth look at the new VAT landscape that has been created, post-Brexit and Covid.

In this webinar, we will highlight ways to boost your business's cash flow from previous T&E and AP expenses and the mechanisms you’ll need utilise now that the UK has left the EU, with some focus on the changes to French VAT requirements.

Join our team of expert advisors and Indirect Tax specialists to understand how your business could effectively use VAT reclaim to its advantage and plan ahead to benefit from the UK’s new global trading landscape.

Register here for free > 

BCC research finds little love for EU Trade Deal

New research carried out by the British Chambers of Commerce of more than 1,000 businesses has highlighted a host of issues with the UK’s trade deal with Europe. The BCC believes urgent steps should be taken to address these problems so the UK Government’s ambition to increase the number of firms exporting can be met.

Overall, just eight per cent of firms agreed that the Trade and Co-operation Agreement (TCA) was ‘enabling their business to grow or increase sales’, while 54 per cent disagreed. For UK exporters 12 per cent agreed that the TCA was helping them while 71 per cent disagreed.

When asked to comment on the specific advantage (for those that agreed) or disadvantage (for those that disagreed) of the trade deal, 59 firms identified an advantage, while 320 cited a disadvantage.

Real the full article here > 


Incoterms 2020 
Wednesday 2 March, 9.30am-1.00pm

This course will explain Incoterms® and their importance in international trade contracts.

Bitesize Workshop: Documentation
Wednesday 2 March, 3.00-4.00pm

Get an overview of documentation requirements when trading internationally.

Step by Step Understanding a Customs Declaration
Thursday 3 March, 9.30am-1.00pm

This course will provide a basic understanding on how to compile a basic import / export entry.

Bitesize workshop: Logistics and Brokerage
Thursday 3 March, 3.00-4.00pm

Gain a snapshot of what is involved with logistics and brokerage in this hour-long workshop.

View our full list of training courses here > 

Slovenia: Doing business in the heart of the EU
Wednesday 9 March, 12.00-1.00pm

Hosted by the British Chambers of Commerce, the British-Slovenian Chamber of Commerce and Spirit Slovenia, the session will allow you to :

  • Discover the key benefits to setting up a business in Slovenia
  • Find out what support is available to help you in this process
  • Hear from key businesses about their own experiences
  • Understand why this is a perfect potential location for your business.
  • Want to find out more about doing business in the heart of Europe?

This free virtual event could start your journey.

Places are strictly limited, so register today > 

Trade update

The Office of National Statistics (ONS) latest UK trade data showed a significant fall in UK goods trade in 2021, compared with 2018. Exports were 10.5 per cent lower over that period and imports were 4.8 per cent lower. View the British Chambers of Commerce reaction.

New legislation on potential UK sanctions on Russia over the Ukraine crisis have come into force. The rules widen the range of actors and assets over which sanctions could apply. The UK, US and EU are co-ordinating sanctions in the event of invasion of Ukraine. Please contact us if you have concerns.

Update from the Egyptian-British Chamber of Commerce

A statement came out from The Central Bank of Egypt on Sunday 13 February 2022 stating:

As one of the governance procedures to regulate the importation process of goods into Egypt; the decision was made to stop all import transactions through collection of documents and use bank to bank transactions instead.

The only approved way of importing is through letters of credit from importers.
This was followed by announcements of exemptions of sectors to the above regulation. The Central Bank of Egypt (CBE) excluded imports of medicines, serums, relevant chemical substances, and some food commodities from the recent decision. 

The food items that were excluded include: tea, meat, chicken, fish, wheat, table oil, baby formula, powder milk, bean, lentils, butter, and maize.

The exclusion decision also applies to express mail shipments and shipments that are worth up to $5,000 or an equivalent amount in other currencies.

The CBE has also directed all banks to reduce their commission for opening documentary credits to be equal to the commission paid for collection documents, as not to add financial burdens for the trader.

We will send further updates as we receive them.

Contact the Chamber

01223 237414 •  chamber@cambscci.co.uk
Cambridgeshire Chamber of Commerce
Clifford House, 2 Station Yard, Oakington, Cambridge, CB24 3AH