Britain signs deal to join £12trn Indo-Pacific trading block

A significant milestone for UK trade – Britain is the first new member and first European nation to join the bloc since its formation in 2018.

Kemi Badenoch has signed off UK membership to a major Indo-Pacific trade bloc.

Kemi Badenoch has signed off UK membership to a major Indo-Pacific trade bloc. The business and trade secretary signed the accession protocol to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in New Zealand on Sunday.

The move brings British businesses a step closer to being able to sell to a market of half a billion people. Britain is the first new member to join the bloc – comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam – since its formation in 2018.

The UK is also the first European nation to gain entry. It represents Britain’s biggest trade deal since Brexit, cutting tariffs for UK exporters to a group of nations which – with UK accession – will have a combined gross domestic product (GDP) of £12trn, accounting for 15% of global GDP, according to officials.

The signing is the formal confirmation of the agreement which was reached in March after two years of negotiations. Read more from Sky News >

 

 

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Fiscal support key to Electric Vehicle uptake

A report released by trade group Logistics UK has warned that a lack of fiscal support from government is hampering electric vehicle (EV) uptake.

The organisation’s Electric Vehicle Report 2023 said that, while fleet operators had strong ambitions around decarbonisation, these were tempered by concern about costs associated with the transition.

“Respondents to the 2023 research reported volatile energy prices and vehicle acquisition costs, and called for more support through tax allowances for capital expenditure on green infrastructure, including increasing power supply capacity at their premises,” said the report.

“Many cited business planning challenges connected to uncertainty around costs and financial support, including sudden changes or withdrawals of grant funding for both vehicle acquisition and chargepoint installation.”

The organisation had called for fairer ways of funding energy supply upgrade, and consistent and straightforward rules for grants, taxation and regulations, in its previous report on the topic.

In this year’s edition, it urged government to “embed certainty for fiscal support” aimed at encouraging fleets to decarbonise, including for grants.

It advocated the amendment of the qualifying criteria for the 100 per cent tax deductible annual investment allowance for capital spending in the year of expenditure that was announced in the Spring Budget to include vehicles acquired via leasing or hiring – as well as calling for clarification around the usage of the allowance for investments in both buildings and equipment, including costs associated with increasing electricity supply at CV premises.
Read more from Transport Operator >

 

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IFS enjoy a trip to Multimodal 2023 at NEC, Birmingham

International Freight Solutions had another great day at this years Multimodal event at the NEC, Birmingham.

IFS found the trip very productive and a perfect opportunity to make new contacts, as well as catching up with some of our partners and agents from various freight organisations. Paul, Lucas and especially John got very excited by the F1 Simulator, always a big hit with visitors to the show.

Multimodal brings shippers, retailers, manufacturers, wholesalers, importers and exporters together to offer the latest logistics and supply chain solutions. Multimodal is firmly established as the UK, Ireland and Northern Europe’s premier freight transport, logistics and supply chain management event. This event seems to be going from strength to strength with visitor numbers rising each year.

Related article: Multimodal 2023 – Supply Chain Management & Logistics >

 

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Multimodal 2023 – Supply Chain Management & Logistics

Multimodal 2023 will open its doors this week – Hall 4 at the NEC in Birmingham. Featuring 4 conference theatres, 40 conference sessions and over 120 speakers – there’s much to learn by attending. There’s lots to see, too, with over 300 companies exhibiting at the largest edition to date.

Multimodal 2023 – Supply Chain Management & Logistics

International Freight Solutions Ltd will be attending once again as we always aim to keep on the ball as the Freight industry advances forward. Plus, this is an excellent opportunity to catch up with our agents, partners and prospective new suppliers.

Since 2008, Multimodal has been successfully building a supply chain and logistics community of shippers,  retailers, manufacturers, wholesalers, importers  and  exporters  and  the suppliers who support them.

Multimodal is the industry’s annual meeting place where cargo owners and shippers attend to find ways to improve their supply chains and discover innovative ideas to solve their transport and logistics issues. Over 300 companies exhibit at Multimodal offering solutions across all modes together with the latest technological advances to help you make your supply chains more cost effective and more efficient. Read more >

 

 

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Forth Ports commits operations to be carbon neutral by 2032

The UK’s third largest ports group, Forth Ports, has outlined its commitment and the actions it is taking to achieve a Net Zero carbon operation by 2042.

The company, which is Scotland’s biggest port operator, also outlined an interim target of achieving carbon neutral emissions (Scope 1 and 2) by 2032, while creating an infrastructure platform to help accelerate the UK’s path to a decarbonised economy.

To achieve this across the group’s eight ports, the team is overhauling and electrifying equipment and machinery, switching to low carbon fuels, increasing on-site renewable energy generation and promoting low carbon delivery alternatives such as rail and barge. This is complemented by very significant investment in new port infrastructure to support the offshore wind revolution taking place in the North Sea.

Forth Ports is part of the Thames Freeport and Forth Green Freeport* partnerships which are seeking to accelerate the drive to Net Zero across the country.

Sustainable electricity – all eight ports use environmentally sustainable sources of electricity, including on-site wind turbines at Tilbury, London’s major port. All new warehouses will have solar roof panels installed as standard, such as the recently built 100,000 square foot facility at the Port of Grangemouth freight hub. These projects are already satisfying a meaningful proportion of the ports’ power needs. A programme of rolling out new LED lighting is under way to further reduce power use across all port estates.

Low carbon fuels – for mobile equipment and marine fleet, the strategy is to blend and utilise alternative fuels. Initially this involves the widespread use of sustainably sourced hydrogenated vegetable oil (HVO) and, as technology develops, other methods of low emission propulsion. An ongoing programme exists to introduce more fuel-efficient equipment and marine fleet across the asset base. Read more from: www.Forthports.co.uk

 

 

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