CIMA brings finance professionals together at Reckitt for international trade insight, supported by Future Humber
Finance professionals and trade specialists recently met at the R&D Centre at Reckitt in Hull for a focused discussion on how UK businesses are responding to changing global trade conditions. The session was organised by the Chartered Institute of Management Accountants (CIMA) and supported by Reckitt and Future Humber. The event began with catering and networking, bringing together CIMA members, representatives from Reckitt, and Bondholders from Future Humber’s network.
Titled The New Trade Equation: Policy Meets Practice, the event was chaired by Parrish Pryce Williams, Vice Chair for CIMA in Yorkshire and the North East. He opened by highlighting recent movements in global trade, including new tariff arrangements, changing regulatory requirements, and the impact of evolving trade relationships with key international partners. This provided the context for a discussion on how finance leaders and businesses can navigate a more uncertain environment.
The panel featured three contributors offering different perspectives on the trade landscape. Adam Leaver, Professor in Accounting and Society and Director of the Centre for Research on Accounting and Finance in Context at the University of Sheffield, introduced the wider economic backdrop. Pauline Wade, International Trade Advisor at John Good Group, provided insight from her work supporting businesses as they explore international markets. Darren Southwell, Managing Director at Relay Port Agency, added practical experience from the customs and logistics side of trade.
The first area of discussion focused on how recent policy changes across major economies are affecting the risk profile for UK exporters. Adam described a more unpredictable landscape shaped by geopolitical tension and shifting state priorities. This, he noted, places greater pressure on businesses to build flexibility into their planning and to prepare for a wider range of scenarios. Darren reflected on the sensitivity of relationships between major trading partners and how developments at a global level can quickly influence supply chains. Pauline added that many firms are now reviewing markets more closely to ensure they understand both the potential and the risks involved.
The panel then explored how businesses can approach new or emerging markets. Pauline emphasised the importance of understanding a company’s own readiness before entering a new territory, and highlighted the value of detailed research into regulations, culture, payment practices, and local business environments. She encouraged firms to make use of Government resources and in-market support where available. Darren stressed the importance of verifying suppliers and early product sampling to build confidence in new relationships. Adam noted that businesses increasingly require specialist knowledge to navigate the regulatory expectations and tariff classifications attached to different markets.
Attention then turned to operational pressures in customs and logistics. Darren outlined the continued changes businesses face in procedures, systems, and documentation, and explained how increasingly detailed data requirements shape day-to-day operations. He noted that these processes can be challenging but are essential for staying compliant. The group also discussed the growing role of technology, including tools that use AI to help identify key information within customs documentation more quickly and accurately.
The session concluded with an open discussion involving the audience, covering topics such as regulatory complexity, shifting consumer behaviour, and the rising administrative demands placed on importers and exporters. Attendees reflected on the importance of reliable information, clear processes, and specialist advice in supporting confident decision making.
The evening ended with further networking, allowing participants to continue conversations with the panel and peers on this important topic.