BCC: International Trade Vital For UK Growth

The British Chambers of Commerce has called for Government to focus on boosting services, advanced manufacturing, green and digital trade if it wants to hit its £1tn trade target. 

The move comes as research shows SME exports continue to languish:  

• In Q2 of 2023, half of all SME exporters (50%) saw no change in overseas sales, and almost a quarter (24%) reported a decrease 
• Just over a quarter of exporting SME firms (26%) saw their overseas sales increase in Q2 
  
• SME Manufacturers fared slightly better as 30% saw an increase, with the services sector at 23% 
  
• The last time more than 30% of firms saw increased export sales was in Q4 2018 

Boosting exports is key to the UK’s future economic prosperity, but firms of all sizes are facing a wide range of stumbling blocks. These include inflationary pressures, a restructuring of global supply chains and a continuing flow of new requirements from the EU trade relationship.  

The BCC’s newly revised Trade Manifesto, supported by logistics company WTA Group, sets out a comprehensive list of steps to get more UK businesses, currently just 10%, involved in international trade. 

It builds on other recent research by the BCC that found: 

• 54% of businesses say smoother customs procedures are the key to boosting UK exports  
• 42% favour lowering tariffs, while 35% said there is a need to reduce regulatory barriers, and 29% want better support for smaller businesses 

Among the Manifesto’s key proposals are: 

• Establishing an Exports Council to focus on boosting the UK’s services, green, life sciences, and advanced manufacturing exports – achieving the £1tn exports target early in 2030s 
• Raising the proportion of UK exports done digitally to 60% by end of the decade 
• Building upon trade documents digitalisation by moving to online border processes at pace.  
• Updating the UK Export Strategy with specific support and promotion for green exporters. 
• Earmarking additional dedicated UK Export Finance for green trade.  
• Reaching an agreement between the UK and EU in the coming months on electric vehicles and batteries’ rules of origin, to avoid damaging new tariffs. 

The new manifesto has been updated to account for the latest developments in the world of international trade and to reflect that several asks from the first edition have been acted upon. 

These include: 

• Establishing a Government trade growth office (Preference Utilisation Unit) 
• Fixing problems with the Northern Ireland Protocol 
• Extending the grace period on CE marked goods 
• Resolving a dispute with the US to avoid punitive tariffs 

Shevaun Haviland, Director General of the BCC, said:  

“The world of international trade is where British business belongs. If our economy is to grow then we must export more, it’s as simple as that. Firms that trade overseas, grow faster, pay better, and are more resilient. If the UK wants to remain one of the world’s largest economies, then we need more firms selling more goods and services internationally. Our new Manifesto sets out long-term strategy on the key areas where the Government must focus if it wants to hit its target of £1tn of exports. Trade is constantly developing and there are real opportunities for a global Britain to exploit new markets as technology advances, Net Zero takes hold and the geopolitical landscape shifts. We are already a world-leader when it comes to digital trade and we must lean more heavily into the opportunities that will provide. We also need to build a strategy to protect the UK’s supply chains – the US, the EU and China are all investing £100bns in sustainable and low-carbon technology. We don’t have that kind of money, but we do have great strengths – services, renewable energy, green finance, engineering, professional services, cutting edge manufacturing, food and drink exports, and R&D.  We need to work with Government to put in place a framework that makes use of all the advantages the UK has, to keep us at the top table. Finally, we need to look again at ways of improving trade with the EU. It remains our biggest trading partner, but firms continue to express huge frustration with the complexity and costs involved – which go beyond what they face elsewhere. If we all work together to take action then we can revitalise our exports growth and help power up the UK economy.”  

Rochelle Sommer, CO-CEO of WTA Group, said: 

“It is an exciting time for UK companies to enhance their international trade. Exporting is a great strategic tool for growth and can provide robustness to profit and loss, as it can minimise seasonal peaks and troughs and protect your growth strategy from pockets of economic downturn. As well as encouraging and supporting the £1tn export target, this manifesto is committed to the digitisation of supply chains, something we feel passionately about at WTA. This digitisation was one of the key drivers for our partnership with the BCC, as we feel digitisation is what turns supply chains from transactional parts of a business to strategic, and it’s where WTA can add the most value for our customers”. 

Dear Members and Guests,

We hope this message finds you in high spirits! We would like to express our heartfelt gratitude to each and every one of you who joined us at the unforgettable Summer Rooftop Gin Party hosted by the British Bulgarian Business Association yesterday. 

It was an absolute pleasure to greet the summer season with such a vibrant and enthusiastic crowd. The evening was filled with joy, laughter, and the delightful clinking of glasses as we savored our handcrafted cocktails against the breathtaking backdrop of the sunset. 

We would like to extend a special thank you to our generous sponsors, Adnams, for providing us with a fantastic selection of drinks that perfectly complemented the ambiance of the evening. Your dedication to delivering exceptional quality is truly commendable, and it added an extra touch of elegance to the event. 

Additionally, we are immensely grateful to Atlanea, our event sponsor, for their invaluable support and contribution. Your partnership played a significant role in creating an atmosphere that fostered new connections and fruitful conversations. 

We would like to extend a heartfelt thank you to our gracious host, Megapark, for providing us with an exquisite venue that elevated our Summer Rooftop Gin Party to new heights of enjoyment. Your dedication to creating a welcoming and vibrant atmosphere truly made the event unforgettable.

Our Summer Rooftop Gin Party was not only an opportunity to enjoy delicious cocktails and soak in the warm summer vibes but also a chance to expand our professional networks. We hope that you had the chance to meet new business contacts, share insights, and establish valuable connections that will contribute to your future endeavors. 

The success of this event would not have been possible without the enthusiasm and active participation of each attendee. Your presence added that extra sparkle and made the evening truly memorable. We are continually inspired by the incredible energy and camaraderie within our community! 

Stay tuned for more exciting updates and events from the British Bulgarian Business Association. We look forward to seeing you at our upcoming gatherings, where we can continue to forge meaningful connections, celebrate successes, and build a stronger business community together. 

Once again, thank you for being a part of the Summer Rooftop Gin Party, and we hope that the memories created will linger as long as the summer sun. 

You can see photos from the event here.

DGKV reaffirms its excellent reputation in Intellectual Property in IP Stars 2023 and being recommended for patents

DGKV is thrilled to announce that for a seventh year in row our Trade mark lawyers reaffirmed their excellent reputation in Intellectual Property Law being acknowledged as Tier 1 law firm for trade mark work in the 2023 ranking of the prestigious international directory IP STARS for Bulgaria.

The law firm reaffirms its excellent reputation in Intellectual Property Law and being recommended for patents.

DGKV’s IP practice group head Kalina Tchakarova has been named Trade Mark Star 2023 in IP STARS, the leading specialist guide to IP firms and practitioners worldwide.

IP Stars has been researching and ranking IP firms in over 70 jurisdictions since 1996.

The rankings are based on an extensive six-month research of strength of the IP team, workload, record of accomplishments, as well as on client and peers feedback.

The practice group is staffed with certified trademark attorneys, fully qualified lawyers and currently consists of three senior associates, and three associates. The excellent understanding of the IP issues faced by industries from food and beverages production and distribution to automotive, energy, pharma, telecommunications, tobacco, entertainment, software development, cosmetics, chemicals, technology, etc.

The law firm’s IP practice and lawyers have been continuously top-ranked by leading legal guides such as Chambers EMEA, Legal 500, World Trademark Review (WTR 1000) and Media Law International.  DGKV’s IP Practice group have persistently top ranked the law firm’s IP practice and its distinguished experience in trademarks.

Congratulations to DGKV team for rankings for another consecutive year!

Working for a comprehensive strategy to the United Kingdom’s trade and inward investment environment by bringing the voice of prospect and prosperity to the heart of the national debate; to encourage an inclusive and sustainable environment and to foster dialogue between parliament with businesses and associations.

“The All Parliamentary group is conducting a global survey to gauge the view of those affected by the UK trade policy and its implementation. Decision-makers will benefit from your assessment. Your contribution is important and will be fully noted.” Lord Waverley, Co-Chair APPG Trade & Inward Investment

Enabling foreign direct investment and supporting UK businesses to export has never been more important as the UK seeks to drive economic growth. The Government approach must be informed by the voice of industry at every level – from SMEs to major multinationals, industry bodies, and trade associations – if it is to truly support businesses and investors in achieving their goals, and thereby accelerate opportunities for nationwide growth and prosperity.

Survey should be completed by 31 August 2023.

The APPG for Trade & Investment is conducting research with a view to presenting findings to Ministers and Parliament, with the support of Sir John Peace as chair of the parliamentary group’s steering group, and other industry leaders. Assessments will be made publicly available, without reference to the author. 

Please contribute your insights below, providing as much detailed feedback as you can, and kindly encourage your colleagues and network contacts to do the same. The more input we receive, the more accurately will we be able to assess policy, trends, potential opportunities, regulatory environments, and more – as we contribute to a sustainable and competitive global market for the UK.

Thank you for your time and expertise. You will not be identified with your remarks and your responses will not be used for purposes other than those articulated in this review. All responses are by default anonymous, however, if you would like to discuss this review and the findings further, please contact: review@appgtrade.uk in order that an appropriate meeting can be arranged.

Postbank built a photovoltaic power station for its own needs onthe roof of its Head Office building with a total installed capacity of 388kWp. The annual production of green energy is expected to reach 432 thousandkWh, and on days with intense sunshine, electricity produced by the stationwill cover at least 30% of the electricity consumed by the building for a day.The implementation of the large-scale photovoltaic project provides a number ofbenefits, allowing the company to further reduce its carbon footprint and, atthe same time, motivate employees to be more responsible. The idea for theproject was developed in line with Postbank’s ESG strategic vision, which setsout the main principles on which its corporate philosophy for development isbased, both in the immediate future and in the long term.

Protecting the environment, combating climate change and reducingthe carbon footprint are top priorities for Postbank. As a responsiblefinancial institution and a leading factor in innovations and the formation ofthe development directions of the sector in the country, the bank takes intoaccount the importance of environmental and climatic aspects of its activity inthe process of making key management decisions. The financial institutionbelieves that climate change and the associated challenges for the transitionto a low-carbon economy open up a wide range of opportunities that everyresponsible business must implement in its operations. The benefits of thenewly built solar panel park in Postbank’s Head Office building are remarkable- on an annual basis, the project enables the saving of about 173 t of coal inthe environment, the avoided carbon emissions would be about 205 t, and thetrees that should be planted for their processing are nearly 300.

“From our position as a leader in the banking sector in thecountry, we are aware of our important role to be active participants in thegreen transition on the road to sustainability. Over the past few years, wehave taken significant steps and implemented valuable initiatives to demonstrateour readiness to play our key role in the transition to a low-carbon andsustainable economy on the way to achieving long-term national and globalgoals. Team spirit, empathy and social responsibility unite us not only in ourdaily activities but also in our commitments to socially beneficial causes.Building green self-awareness is part of our corporate values, and that isexactly why our entire team makes continuous efforts and conscious actions onthe way to a green economy for the increase in the quality of our lives and forthe future of our planet,” Postbank commented.

Postbank implements its ESG strategic visionwith a focus on priorities that allow it to offer the best sustainableproducts, services, concepts and solutions. The institution emphasizes thesustainable impact of its operations, meets the demands of the market with aninnovative approach and, at the same time, closely monitors the ESG challengesfacing its activities.

Over the past 12 years, Postbank has achievedsignificant optimization of the resources it uses in its operations and hasimplemented numerous digital solutions and products, improving its carbonfootprint and significantly reducing the consumption of electricity, paper andwater. The financial institution is constantly renewing its fleet, havinginvested in more than 50 hybrid-powered cars last year alone, and expects a newserious addition of eco-cars this year. In parallel with the project for thenewly built photovoltaic power station for own needs on Postbank’s Head Officebuilding, the offices and premises in it, as well as in the branch networkthroughout the country, are in the process of complete renovation. Theinclusion of ecologically clean, recyclable materials in the improved bankingspaces, the installation of modern LED lighting, as well as the introduction ofthe latest generation of more efficient and environmentally friendly airconditioning systems are only part of Postbank’s sustainable actions on the wayto a green economy.

With a vision for the common future of theentire society and in support of its clients and partners, Postbank has a GreenBoard and an Environmental Office unit within its organizational structure.They work to protect the environment both in terms of limiting internalconsumption of resources and in relation to their financing activities. Theinstitution is a member of the United Nations Environment Programme FinanceInitiative and is the first and only bank in Bulgaria to join the Principlesfor Responsible Banking launched by this organization. In this way, the companygets access to resources, best practices and international expertise in thefield of ESG.

The financial institution also has a multi-layered corporatesocial responsibility policy, as every year, the bank, together with itsemployees, implements numerous green projects and invests in initiativesrelated to the promotion of education, sports and entrepreneurship in ourcountry. Its engagement in the field of environmentalprotection has repeatedly been distinguished in various competitions forsustainable initiatives, such as in the latest edition of b2b Media’s GreenestCompanies in Bulgaria 2023. Postbank won a prize in the “Leader in GreenInitiatives” category for its overall contribution to sustainable businessdevelopment and the building of green self-awareness.

More information about Postbank’s strategic vision andsustainable corporate policy, as well as on the institution’s multi-layered corporate socialresponsibility policy, can be found at www.postbank.bg.

An exciting opportunity has arisen for a Driver/ Administrative Officer S1, based in Sofia. This is a full-time, and permanent position. We strongly encourage any internal candidates who are interested in the role to apply, including current employees, interns at Post. If you decide to apply, please make sure to identify yourself as a current employee/intern staff in the application form.

The Corporate Services team at the British Embassy in Sofia is looking to recruit a full time Corporate Services Officer – Driver to join the team as soon as possible. The Corporate Services department is at the core of the British Embassy’s operations and the Driver is a key member of the team. The successful candidate will be expected to provide safe and timely transport services to all passengers in official vehicles to and from scheduled appointments and aslo during Ministerial visits, trips to the countryside and abroad. The Driver will deal with delivery of documents, letters, invitations and packages to/from various organisations and partners. They will make sure that diplomatic mail is sent, received and distributed in an efficient and timely manner. As Corporate Services Officer the person will support the Corporate Services team with purchases, deliveries, logistics around Embassy events and other ad hoc tasks.

The role of the Driver is a challenging and rewarding position. It requires a motivated individual with attention to detail, someone who is proactive, demontsrates a can-do attitude, who is open to learn on the job, able to work with others and deliver a high quality service.

The successful candidate will be reporting to the Head of the Ambassador’s Office.

For further details on this vacancy and information on how to apply, please follow the link on the FCDO CBS Staff Vacancies Homepage.

Deadline for applications: 23 July 2023  

Referrals: If you know anyone with similar qualifications that could fit this role, we would like to encourage you to inform them about this opportunity.

Reacting to the latest ONS labour market figures, Jane Gratton, Head of People Policy at the British Chambers of Commerce, said: 

“Despite unemployment remaining low, we hope that today’s 0.2 percentage point increase is a blip rather than a sign of a deeper trend. We remain concerned about the persistent tightness in the labour market, adding to the costs and difficulties facing businesses Staff shortages continue to damage growth and business activity. Our research shows that three quarters of firms (73%) are facing skills shortages, and in some cases, this means turning away new business. Fierce competition for skills, wage demands and candidates’ expectations leave many businesses with job vacancies they can’t fill. All of this, on top of rising interest rates, and stubbornly high inflation, makes it a perilous environment for business. The Government must support more people back into work and create the right conditions for employers to invest in staff training and development, which takes time. Firms need action now to fix the short-term issues they face in staff recruitment and retention. If employers cannot recruit and train from their local or national labour market, a flexible, efficient and affordable immigration system is crucial and must be a priority to stop wage inflation and get the UK back to healthy growth.” 

PwC Bulgaria organises the “ESG Awards” contest for a second year in a row. The initiative will reward organisations with successful ESG strategies and projects, innovative products & services with a positive impact on the environment as well as educational programmes in the field of sustainable development.

The “ESG Awards” are held in 4 main categories: 

• Strategy
• Innovation
• Educational programme
• Leader in sustainable development (for individuals only)

Organisations operating on the territory of the Republic of Bulgaria can participate in the contest. Startups can participate in the “Innovation” category. The special category “Leader in sustainable development” is for individuals who initiate, follow and support responsible business practices.

Participants should present strategies, projects, innovations and programmes implemented in the last two years or prepared for implementation in 2023 or 2024.

ESG is not only an obligation, but also an opportunity for sustainable financial development – comments Albena Markova, Partner, Consulting Services at PwC Southeast Europe. As PwC Bulgaria launched the second edition of the  “ESG Awards” contest, Albena shared details about the initiative and the categories this year, the path of Bulgarian business towards ESG, good practices and the way forward to them.

 This year we decided to expand the categories in the contest. The previous general category “ESG strategy” now covers the three segments E, S and G in detail.

 Among the new categories are “Actions related to climate change”, “Reduction of industrial pollution”, “Transition to a circular economy”, “Employee care”, “Responsible management and internal trainings” and others.

 Organizations operating on the territory of Republic of Bulgaria, whose goals or activities support the development of ESG-related values, can participate in the contest.

 Business interest in the subject of ESG has definitely increased since the adoption of CSRD, which probably means two things: firstly, that there is a perception of “inevitability”, and secondly, the focus is significantly on accountability, which will come into effect from 2025.

 There is a certain predominance of the topics of management and social practices over the environment.

 See the entire interview here:https://lnkd.in/dhFbAdjr

 See more about the contest here:https://lnkd.in/dShRsW_V

 The application deadline is August 10, 2023. Participation is free and there is no limit to the number of submitted applications. Applications will be evaluated by a jury of independent ESG experts. The winners will be announced at an official ceremony this autumn.

You can find more information about the contest and the categories here.

Partners Stephan Kyutchukov and Zdravka Ugrinova have assumed joint management responsibilities as co-managing partners of DGKV, thus putting a strong anchor in two generations of DGKV partners.

This comes as we mourn the loss of our managing partner Assen Djingov, an esteemed legal professional, a remarkable leader, mentor and co-founder of DGKV, a friend.

DGKV co-founders and Assen’s childhood friends, Georgi Gouginski, Stephan Kyutchukov and Marius Velichkov, share memories on their friendship and partnership with Assen Djingov:

In Memoriam: Асен Джингов – между музиката и правото

In Memoriam: Assen Djingov – Between Music and the Law (English translation)

“Assen played a key role in founding DGKV and navigating our law firm to its top position in the Bulgarian legal market over the past 30 years. The cause and mission of DGKV were shaped by his leadership, dedication and unwavering commitment to providing high-quality client service and building a strong team of talented lawyers. His legacy will always be cherished.” – says Stephan Kyutchukov, co-founder of DGKV and co-managing partner. 

“During this challenging time we are committed to maintaining continuity and ensuring a smooth and seamless transition in the firm’s management, for the benefit of our clients and team.  We remain focused on maintaining the highest standards of legal services, integrity, and professionalism. We sincerely appreciate our clients’ continued trust and partnership.” – says second generation partner Zdravka Ugrinova, co-managing partner.

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