The Department for Business and Trade (DTI) has launched the Critical Imports and Supply Chains Strategy to safeguard the UK supplies of critical goods such as medicines, minerals and semiconductors. This should help importers counter the effects of the Red Sea disruption.
In their recent press release, the DTI said:
“Imports of critical goods for the NHS and UK manufacturing to be protected from global supply chain shocks, safeguarding business and consumers and boosting the economy.
- New Critical Imports and Supply Chains Strategy forms key part of government work to back business and grow the economy, helping UK companies build strong and resilient supply chains for vital goods and avoid dependence on protectionist or coercive states.
- Innovative research will be used to map the impacts of shocks on supply chains, such as those caused by the Covid pandemic and war in Ukraine and understand how the UK can secure the goods we need in future.
“UK supplies of critical goods such as medicines, minerals and semiconductors will be safeguarded, thanks to the Government’s new Critical Imports and Supply Chains Strategy launched today (Wednesday 17 January).
“The recent attacks in the Red Sea, one of the world’s most critical waterways, has threatened global trade. In response to increased geopolitical disruption, and the unprecedented challenges of recent years, like the Covid pandemic, Russia’s invasion of Ukraine and environmental disasters, the UK Government and businesses have boosted their ability to manage supply chain shocks. This strategy builds on this and will further equip UK businesses to deal with global supply chain problems and access the imports they need which are essential to the functioning of the UK.”
More than 100 top UK firms, including pharmaceutical and manufacturing leaders like The Association of the British Pharmaceutical Industry (ABPI), the Society of Motor Manufacturers and Traders (SMMT) and Green Lithium have contributed to the strategy to ensure it helps develop resilient and secure supply chains that protect both their business and the consumers who rely on them.
Minister for Industry and Economic Security Nusrat Ghani will launch the Strategy today during a visit to Heathrow Airport, the largest import hub in the UK which managed more than £86 billion of UK imports in 2022.