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The UK government has announced it will offer grants up to £75,000 to help regulators and business organisations have professional qualifications recognised overseas.
The move aims to help boost exports within the service industries and make it easier for accountants, lawyers, architects and other professionals to do business abroad by securing mutual recognition arrangements with international counterparts.
The UK is the second largest exporter of services in the world and this new funding will help to boost the country’s already strong trade in services.
Business Minister Lord Callanan said:
“The UK’s professional qualifications are rightly widely recognised as a gold standard for diligence, professionalism, and proficiency around the world.
“By creating our Recognition Arrangements Grants Programme, we are supporting regulators to build on this well-deserved reputation for excellence by agreeing recognition of professional qualifications with countries across the EU, ultimately making it easier for our lawyers, surveyors, accountants, and others to work in the EU and elsewhere.”
Among organisations set to benefit from the grants is the Institute of Chartered Accountants in England and Wales (ICAEW), one of the leading providers of accountancy qualifications in the UK. An ICAEW spokesperson said:
“We warmly welcome the announcement by BEIS of this new round of funding.
“It will prove extremely useful for UK professional bodies working towards international recognition arrangements as part of the ‘Global Britain’ agenda.
“BEIS’ pilot scheme was very helpful supporting aspects of ICAEW’s international recognition work and because of this we intend to bid again.”