Singapore fling for UK biotech just the start of global trade push

The 6-month pilot programme, the Singapore Life Sciences Trade Accelerator, will connect UK firms in the sector with the burgeoning South-East Asian market for their products.

It will talent-spot up to 30 SMEs, with the greatest potential to grow sales in South-East Asia and provide them with a bespoke service to enter the market.

The scheme has been designed in close co-operation with the British Chamber of Commerce in Singapore. It is also supported by the Department for Business and Trade, the Foreign, Commonwealth and Development Office, UK Export Finance, Innovate UK and the Singapore Economic Development Board.

The move comes as the latest BCC research reveals the number of businesses reporting increased export orders has fallen from 31 per cent in Q2 2018 to 22 per cent in Q4 2025.

If the value of UK exports had been just two per cent higher in 2024, GDP growth would have been around 1.75 per cent instead of 1.1 per cent.

The lessons learned from the pilot will used to further develop and scale-up support for British export-ready businesses to other sectors and markets. These will include the US, India, the Gulf and wider Indo-Pacific region, using the BCC’s worldwide Chamber network.

Steve Lynch MBE, Director of International Trade at the BCC, said: “The UK does not have a strategy gap; it has a delivery gap. We have no shortage of innovation. What we’ve lacked is a coordinated, commercially driven system to convert that into export contracts at scale.

“For too long, the policy development of trade strategies has kept businesses at arms-length, leaving firms, especially SMEs, to navigated global markets alone. The Trade Accelerator will change that.

“This is economic diplomacy in action, with government, NatWest and Chambers aligned behind one objective: helping high-growth British firms win overseas.

“Singapore is our launchpad into a much wider regional market, which is the fastest growing in the world for life sciences and health innovation. If our firms can succeed there, they can compete anywhere.

“This pilot is proof of concept. The ambition is national scale. Every £1 invested in a Trade Accelerator has the potential to unlock multiples in export sales, investment and high-value UK jobs. This is about delivery, confidence and proving Britain can win in the global race for growth.”

Chris Bryant, Minister for Trade, added: “This initiative is a welcome step, offering practical targeted support to help ambitious British companies break into one of the world’s most dynamic markets.

“Singapore is a gateway into the wider Asia Pacific, and this pilot will give UK innovators the backing they need to turn their export potential into export reality, working hand in hand with industry to get more British firms of all sizes selling overseas, driving growth and high value jobs across the UK.”

Singapore has been selected for the pilot as it accounts for 40 per cent of UK–Southeast Asia trade. It sits at the heart of the Association of South-East Asian Nations (ASEAN) and is a hub for Indo-Pacific growth. The country combines a pro-business regulatory regime with world-leading biomedical research and development, and capital markets.

The UK has a free trade agreement with Singapore, as well as a bespoke Digital Economy Agreement and both countries are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The end-to-end delivery support offered by the Trade Accelerator will include:-

• Targeted export bootcamps and investor-readiness training

• Regulatory and compliance preparation

• Direct mentoring from commercial and financial partners

• A high-impact Singapore trade mission

• Buyer, investor and government matchmaking

• Structured post-mission deal conversion support

A webinar to provide more information on the scheme and the application process to join will be held on Monday 9 March. It is open to all businesses in the life sciences sector. A link to register can be found via https://us02web.zoom.us/webinar/register/WN_w1Wqn23WReWqDbJzmiskhg#/registration