UK launches digital trade network to support tech collaboration with APAC, including Singapore

[SINGAPORE] High growth tech companies in Singapore keen to expand into the British market will have a new avenue of support: a Digital Trade Network launched by the government of the United Kingdom.

Britain's Department for International Trade (DIT) said in a statement on Thursday that the network will support tech collaboration between Britain and the Asia Pacific (APAC) region, by bringing more UK digital tech expertise into key markets, including Singapore, Japan, South Korea, Thailand Indonesia, and Australia.

The UK Budget has committed £8 million (S$14 million) to launch and run the network in the next three years in the APAC region, the DIT added.

UK Trade Commissioner for Asia Pacific Natalie Black said: "Digital technology is more important than ever, delivering innovations that improve people's lives and make businesses more productive - as we've seen through the Covid-19 pandemic.

"Strengthening the UK's partnership with Asia Pacific through this new Digital Trade Network will allow us to create new collaborations, driving trade and investment and ensuring we all benefit from the best global digital innovation."

British tech growth platform Tech Nation will join the network by extending its Entrepreneur Engagement Network into Singapore, Japan and Australia. This will support tech scaleup in APAC for those interested in the UK market, by providing a direct link to key tech clusters across the country, said the statement.

It will also help UK-based innovative and research and development-heavy businesses expand into APAC.

THE STRAITS TIMES