The Memorandum of Understanding (MOU) marks the beginning of UKTI and Amazon working together to capitalise on the world-wide demand for UK products.
A recent study by Google and OC & C showed that global consumers searching online for British products has grown by 46% per annum over the last 5 years. This agreement represents a demand-led approach to accelerating exports.
In conjunction, UKTI has built a community of digital service companies (E-Expertise Bank Members) to advise UK exporters on how to optimise their businesses for online success. Together, the Amazon opportunity and UKTI's E-Expertise Bank of private sector experts offers a compelling proposition for UK companies.
This MOU is the eighteenth of its kind prepared by UKTI with an e-marketplace, helping UK companies reach new digitally aware, connected consumers. The Amazon MOU is the largest to date, covering a range of product categories and various international markets.
It is a good example of how UK companies can sell to global customers through online channels, which can offer a faster, more efficient route to new markets. Crucially, the world's e-marketplace giants have their own connections with new exporters that are seeking to sell, many for the first time considering cross border selling. UKTI's expertise and global network is seen as a major advantage to e-marketplaces and our trade targets compliment their commercial objectives well. This partnership is another positive step towards our 2020 target of 100,000 new exporters.
“The global ecommerce market grew by more than 20 per cent last year, underscoring the huge opportunity for businesses of all sizes to grow their businesses by increasing sales online and expanding to new markets,” said Catherine Raines, Chief Executive Officer of UKTI. “By working with industry partners such as Amazon, UKTI is helping to make sure British businesses set the pace both in terms of ecommerce and exports.”
Doug Gurr, VP and China Country Manager at Amazon, said: “At Amazon, we have worked hard to build systems to make it as easy for companies to sell abroad as it is for them to sell in their home market, and this new partnership with UK Trade & Investment will help UK businesses to expand their international sales and drive cross-border trade.”
If you are talking to UK or international businesses looking to grow their sales through online channels, particularly e-marketplaces, visit gov.uk/e-exporting to find out more.
Tags: Economy, Business Support , Export, Organisational Performance