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UK unveils ‘Bounce Back’ plan for agriculture, food and drink industry

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The British government announced a slew of measures in order to support businesses for the agriculture, food and drink industry, which have been badly hit due to the COVID-19 outbreak.

Termed as “bounce back” plan, it introduces a new programme of physical and virtual events that have been tailored to help a variety of businesses and exporters.

It has been jointly launched by the Department for International Trade (DIT) and Department for Environment, Food and Rural Affairs (Defra). According to the press release, the plan will offer “immediate support” to help businesses in the industry develop their trade activity overseas.

Leveraging Department of International Trade’s existing E-exporting Programme, the government also launched a new SME (medium-sized enterprise) e-commerce accelerator pilot.

“The plan will provide unprecedented help for small and SMEs and allow them to capitalise on trade agreements being negotiated by DIT with Japan, the U.S., Australia and New Zealand,’’ it said.

The measures introduced will support producers, manufacturers and agri-tech companies across the food supply chain, from farm to fork, and has been developed with insight from the devolved administrations, trade associations, businesses and DIT’s regional and international networks, read the statement.

According to official figures, in 2018, the agriculture, food and drink industry contributed around $150 billion to Britain’s economy, while in 2019, Britain’s food, feed and drink exports were worth $29.4 billion, up 4.9% from 2018.

Editorial Desk at Agrigate.Global

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