Secretary of State for Business and Trade (): Today I am announcing a
new £2.3million Regulatory Partnership for Growth Fund (RPGF),
which will help to unlock export opportunities worth nearly £5
billion for UK companies over five years.
The RPGF will help UK regulators work with international partners
to remove trade barriers and shape markets in various growing
sectors. The Department for Business and Trade will offer Grant
Funding Agreements to UK regulators and standard setting bodies
in order to undertake targeted, specific interventions to unlock
regulatory market access barriers.
The Fund builds on the Prime Minister's call at the International
Investment Summit last week for UK regulators to support the
Government's growth mission, keep pace with emerging industries
and upgrade the regulatory regime to make it fit for the modern
age.
This will see UK businesses, including in growth-driving sectors,
benefit from almost £5 billion of new export opportunities over
five years, with trade barriers worth £300 million being targeted
within the first 12 months – equivalent to an average of £135 in
exports per pound invested.
For example, the fund will generate new opportunities for the UK
offshore wind supply chain to export their products and services
globally; enable the UK's pharmaceutical
industry to more easily sell medicines in markets around the
world; and improve the process for accreditation of UK education
providers to sell their services abroad.
List of organisations to receive funding
Architects Registration Board (ARB)
Operators of UK National Information Centre for global
qualifications and skills (Ecctis)
The Food Standards Agency (FSA)
The Law Society of England and Wales
The National Institute of Health and Care Excellence (NICE)
Offshore Renewable Energy Catapult (OREC)
Quality Assurance Agency for Higher Education (QAA)
