The Department for Business and Trade (DBT) has launched a new Critical Imports Council, aimed at safeguarding the UK’s supply chains and flow of vital goods, such as medicines and semiconductor chips.
The newly launched council has had its first meeting today (17 April).
The Critical Imports Council is made up of 23 industry leaders from universities, trade associations and businesses, including the Institute of Export & International Trade (IOE&IT), Rolls-Royce and BAE Systems.
DBT will also create an online portal, where businesses can report any supply chain issues.
‘More important than ever’
Members of the council will work with DBT and advise on supply chain issues and how to build a resilient supply of critical minerals to the UK, meeting quarterly to identify vulnerabilities and work together on emerging issues.
Alan Mak, trade minister and chair of the council, said:
“It’s never been more important to strengthen our supply chains and make sure vital goods can continue reaching consumers, in the face of the pandemic, the Red Sea attacks and many other crises around the world.”
Marco Forgione, IOE&IT director general, said:
“From smartphones to cars to energy equipment, many of the daily products we use rely heavily on a constant supply of critical minerals to manufacturers. Importers are on the front line of the effort to secure this supply line of goods vital to our day-to-day life.
“It is crucial that we ensure a steady and stable flow of these goods, and IOE&IT stands ready to help government understand the needs of importers of critical minerals and how best to protect the UK’s supply chains.”
Recent geopolitical events, such as the Red Sea Crisis, Russia’s invasion of Ukraine and political tensions between China and the US, have placed a strain on the supply of critical goods to the UK.
These events have hit the supply of critical minerals – such as lithium, nickel and cobalt – at a time when many of these raw materials are seen as important to the transition to net zero and to advanced industries such as AI and semi-conductor development.
Strategy
The new council builds on the government’s recent efforts to protect UK supply chains from these sorts of shocks and disruptions.
In January, DBT launched its Critical Imports and Supply Chain Strategy, outlining the steps it would be taking to boost UK resilience.
The creation of a Critical Imports Council was identified as one of the crucial ‘next steps’ for protecting UK supply chains, as well as the development of toolkits and guidance for businesses on the importance of risk management and supply chain visibility.