Agenda item

9.1

The Executive Director, Place submitted a report presenting a new International Trade and Export Strategy, which had been developed with key partners and the Local Enterprise Partnership, for approval by Cabinet.

9.2

RESOLVED: That Cabinet:-

(a)

approves the new International Trade and Export Strategy appended to the main report as a statement of the City’s trade and export priorities and ambitions;

(b)

notes the financial implications of implementing the strategy;

(c)

agrees that officers in Creative Sheffield will continue to work with the SCRLEP as part of the development of this wider export offer; and

(d)

delegates authority to the Director of Creative Sheffield to take such further steps, including the making of agreements or arrangements with third parties, as he considers appropriate to achieve the delivery of this Strategy, subject to (a) the availability of any necessary funding within a suitable approved Council budget, and (b) consultation as appropriate with the Director of Legal and Governance and the Director of Finance.

9.3

Reasons for Decision

9.3.1

An International Trade and Export Strategy for Sheffield will launch a new international partnership and outline key strategic interventions designed to drive up export performance across Sheffield and the wider City Region.

9.4

Alternatives Considered and Rejected

9.4.1

Retain our current International Strategy

The Council’s current International Strategy is 2010 to 2013/14. There has been a need for a review to evaluate the Strategy’s successes. Over the lifetime of this Strategy the national and international economic climate has changed considerably following the repercussions of the 2008 financial crisis. Whilst the current International Strategy had an economic focus, it has been concluded that a stronger, more explicit economic focus is required in a new Strategy. Hence the development of this International Trade Strategy which focuses and prioritises international economic activity for the economic wellbeing of the City as a whole.

9.4.2

Delivering a Sheffield Strategy without SCR

Developing a Sheffield Strategy in isolation from the SCRLEP Strategic Economic Plan may lead to increased impact through the improved coordination of existing resources and additional limited resources. However, this would achieve limited economic benefits to the scale and flexibility of current export support. The City could miss out on significant opportunities to truly transform Sheffield’s, and its wider City region’s economy through harnessing the SCR SEP to negotiate increased resources and co-commission powers for UKTI resources.

9.4.3

Work purely within the framework of the SCR Strategic Economic Plan

The development of the International Trade Strategy preceded the SCR Strategic Economic Plan, with Sheffield being asked to lead on the wider international business development offer as a result of more exports and trade being identified as a strategic City region priority. To not proceed with a clear Sheffield plan and a positive commitment to trade and export, and to further partnership working, would lead to a significant delay in activity starting, a move backwards in terms of the coordination and support we have in the trade organisations in the City region and a less bold and clear ask with the SEP for future resources and support. In the short-term we will formally establish and work with the SIP to make progress on delivering the Sheffield commitment up to April 2015 during the period of SCRLEP negotiations with Government on the Strategic Economic Plan. Through this approach, Sheffield will take the lead on initial delivery, evidencing a successful track record to Government, and demonstrating a willingness and ability to deliver on a larger City region scale.

9.5

Any Interest Declared or Dispensation Granted

None

9.6

Reason for Exemption if Public/Press Excluded During Consideration

None

9.7

Respective Director Responsible for Implementation

Simon Green, Executive Director, Place

9.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Economic and Environmental Wellbeing

9.1

The Executive Director, Place submitted a report presenting a new International Trade and Export Strategy, which had been developed with key partners and the Local Enterprise Partnership, for approval by Cabinet.

9.2

RESOLVED: That Cabinet:-

(a)

approves the new International Trade and Export Strategy appended to the main report as a statement of the City’s trade and export priorities and ambitions;

(b)

notes the financial implications of implementing the strategy;

(c)

agrees that officers in Creative Sheffield will continue to work with the Sheffield City Region Local Enterprise Partnership as part of the development of this wider export offer; and

(d)

delegates authority to the Director of Creative Sheffield to take such further steps, including the making of agreements or arrangements with third parties, as he considers appropriate to achieve the delivery of this Strategy, subject to (a) the availability of any necessary funding within a suitable approved Council budget, and (b) consultation as appropriate with the Director of Legal and Governance and the Director of Finance.

9.3

Reasons for Decision

9.3.1

An International Trade and Export Strategy for Sheffield will launch a new international partnership and outline key strategic interventions designed to drive up export performance across Sheffield and the wider City Region.

9.4

Alternatives Considered and Rejected

9.4.1

Retain our current International Strategy

The Council’s current International Strategy is 2010 to 2013/14. There has been a need for a review to evaluate the Strategy’s successes. Over the lifetime of this Strategy the national and international economic climate has changed considerably following the repercussions of the 2008 financial crisis. Whilst the current International Strategy had an economic focus, it has been concluded that a stronger, more explicit economic focus is required in a new Strategy. Hence the development of this International Trade Strategy which focuses and prioritises international economic activity for the economic wellbeing of the City as a whole.

9.4.2

Delivering a Sheffield Strategy without SCR

Developing a Sheffield Strategy in isolation from the SCRLEP Strategic Economic Plan may lead to increased impact through the improved coordination of existing resources and additional limited resources. However, this would achieve limited economic benefits to the scale and flexibility of current export support. The City could miss out on significant opportunities to truly transform Sheffield’s, and its wider City region’s economy through harnessing the SCR SEP to negotiate increased resources and co-commission powers for UKTI resources.

9.4.3

Work purely within the framework of the SCR Strategic Economic Plan

The development of the International Trade Strategy preceded the SCR Strategic Economic Plan, with Sheffield being asked to lead on the wider international business development offer as a result of more exports and trade being identified as a strategic City region priority. To not proceed with a clear Sheffield plan and a positive commitment to trade and export, and to further partnership working, would lead to a significant delay in activity starting, a move backwards in terms of the coordination and support we have in the trade organisations in the City region and a less bold and clear ask with the SEP for future resources and support. In the short-term we will formally establish and work with the SIP to make progress on delivering the Sheffield commitment up to April 2015 during the period of SCRLEP negotiations with Government on the Strategic Economic Plan. Through this approach, Sheffield will take the lead on initial delivery, evidencing a successful track record to Government, and demonstrating a willingness and ability to deliver on a larger City region scale.