Britain’s toy trade could possibly be on the verge of a world golden age.
Publish-Brexit commerce offers are demolishing export limitations as kids world wide unwrap UK-made Christmas presents tomorrow.
Toy and bike exports have introduced a £640million enhance to the economic system.
And producers will discover it even simpler to crack worldwide markets when the UK turns into a full member of an enormous Indo-Pacific commerce bloc price £12trillion subsequent yr.
It should see duties on stuffed toys slashed from 4 per cent to zero.
Describing Britain as one in every of “Santa’s largest workshops”, the Division for Enterprise and Commerce mentioned toy exports to Australia, New Zealand and Japan alone have been price round £36million final yr.
And hopes are excessive that the most recent free commerce agreements will enhance gross sales to new heights.
Ascot-based Frog Bikes already exports to greater than 50 international locations and hopes the brand new commerce deal – formally generally known as the Complete and Progressive Settlement for Trans-Pacific Partnership – will broaden gross sales additional.
Bicycle exports to Singapore have soared by 255 per cent over the previous 5 years.
The corporate was based by Jerry and Shelley Lawson, who have been impressed to create the light-weight bicycle after a “fruitless hunt” for their very own two kids. Exports now account for 45 per cent of gross sales.
Mr Lawson mentioned: “Our journey at Frog Bikes has been one in every of fixed evolution and growth. We envision expanded exports to international locations like Singapore and Canada, anticipating the advantages of the CPTPP.”
Worldwide commerce minister Greg Palms mentioned: “I’m delighted our post-Brexit commerce agreements are making it simpler for British corporations to assist Santa examine off Christmas lists.”
The UK has now agreed commerce offers with 73 international locations, plus the EU.
The Indo-Pacific settlement – which incorporates Canada, Japan, Chile, Mexico, Vietnam, Peru and Malaysia – takes full impact by the top of subsequent yr.
