FDF Trade Snapshot: H1 2024

The addition of regulations such as mandatory GB-wide ‘not for EU’ labelling will threaten any further growth, especially to Ireland, our largest market.

Imports from both EU and non-EU markets continue to increase. However, the situation is fragile, with full controls not yet applied to all EU products and with check rates set to increase.

The EU remains our largest trading partner; however, export volumes are down almost a quarter from last year. Certification requirements continue to be, by far, the biggest obstacle to growth. A decline in beef and poultry imports since the introduction of the Export Health Certificate on EU imports in February 2024 demonstrates the effect of this requirement on trade.

The UK will soon be joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc of 11 countries. Exporters will now benefit from the choice of trading via the bloc or the existing bilateral agreements, with additional market access secured for a range of products. In the case of Malaysia, CPTPP represents a new opportunity, with no existing bilateral agreement in place.