My hon. Friend is right to highlight the importance of exporters to the country’s economic recovery from covid. My Department is working closely with business to develop a new export strategy, deliver bounceback plans for key sectors, sign free trade agreements with countries covering 80% of our trade, strengthen our regional teams to level up exporting success and challenge market access barriers whenever and wherever in the world they are found.
The many exporters in Ruislip, Northwood and Pinner are grateful for the support from Government. Will my hon. Friend outline the measures that UK Export Finance is taking in particular to support export businesses with their recovery?
I am grateful to my hon. Friend for highlighting UK Export Finance. It had its 100th anniversary last year and it is repeatedly voted the best export finance agency in the world. It has a range of products and trade experts across the four UK nations and in key locations globally—we have increased that number—making it ideally positioned to support UK exporters and their overseas customers during the pandemic. UKEF, as well as having an established and successful roster of products, is addressing the emerging needs of UK exporters and has come forward with new products, most notably recently the export development guarantee, which provides general working capital and capex to support the operations of eligible exporters, following a successful pilot. I am delighted to say that UKEF has so far provided EDG support to both Jaguar Land Rover and Ford Britain worth £500 million each, and more is in the pipeline, not least for small and medium-sized enterprises.
The Minister will know that businesses are concerned about the double disruption of covid and the end of the Brexit transition. The Government said that they would secure the rollover deals we need to replace those we enjoyed with more than 40 countries and trade blocs as members of the EU. Failure will leave business with increased costs, barriers and red tape, but in the last four years the Department has concluded just half the agreements it wants and not a single one since the start of this year. Will the Minister tell the House not how many are in discussion but how many will be secured in the remaining four months?
I thank the hon. Gentleman for his question. As he knows, the vast majority of the trade covered by those deals has already been secured in existing deals. Work continues and I am delighted to say that we continue to talk to those countries, as well as, as the original question suggested, supporting exporters, not least Edwin Jagger Limited, for instance, in his own constituency. That company is of particular note and could be of use to him, because it specialises in wet shaving and grooming. If it is good enough for the Chinese and the Americans, I suggest he that gets around to his local supplier.