UKTI stands for UK Trade and Investment.
UK Trade and Investment (UKTI) was a government department that worked with businesses based in the United Kingdom to ensure their success in international markets, and encouraged foreign companies to invest in the UK. It played a crucial role in promoting British exports and attracting foreign direct investment into the UK. Although UKTI no longer exists under that specific name, its functions have been absorbed into the Department for International Trade (DIT), which was subsequently merged into the Department for Business and Trade (DBT). The DBT continues to fulfill a similar role in facilitating international trade and investment for the UK.
In short, UKTI's core responsibilities included:
- Supporting UK businesses: Helping UK companies to export goods and services and expand internationally.
- Attracting foreign investment: Encouraging overseas companies to locate and grow in the UK.
- Providing expert advice and resources: Offering guidance, market intelligence, and financial support to businesses involved in international trade.
While UKTI as an individual entity has ceased to exist, its legacy lives on within the current structure of the Department for Business and Trade, which continues to champion UK trade and investment on a global scale.
