INTERNATIONALTRADE
Vince Cable counts on Russia visit to boost exports Business secretary Vince Cable’s trip to Russia is part of Export Week, with 5,000 businesses expected to take part in events across Britain. The visit is part of the biggest ever Export Week, with 5,000 businesses expected to take part in events across Britain. The government is aiming to raise the number of UK firms that export from a fifth to a quarter. Cable said: “British small and medium-sized businesses (SMEs) are the lifeblood of our economy. Many are doing incredible things and selling their services and products abroad, but too many do not realise their global potential.
The business secretary, Vince Cable, is leading a business delegation to Russia as part of a government drive to boost trade between the two countries as well as increasing the number of UK firms exporting goods and services around the world. Cable is being accompanied on the trip by representatives from more than 30 British companies who are hoping to capitalise on fast-growing economic links with Russia. Between 2009 and 2012, exports of goods and services to Russia grew by over 75% from £4.3bn to £7.6bn.
“I am in Russia this week launching the biggest ever drive to encourage SMEs to export. This campaign will help us reach the many businesses across the country that are ready to export and grow but have yet to take the plunge. “This can be a big step for many businesses and the government’s expert international trade advisers will guide companies every step of the way, with practical advice and support to find international customers.” Keep an eye out for the Chamber’s forthcoming “Doing Business in Russia” event. The Guardian
Quarterly International Trade Outlook Q3 2013 Indicators are still showing growth, with the Trade Confidence Index for Q3 2013 at its third-highest level on record. Other leading indicators are also pointing to stronger growth ahead in more parts of the world economy. However we need to remain cautious in our optimism about the prospects of growth in the world economy. We are faced with potential policy and political pitfalls, including the US debt ceiling, the Eurozone crisis, the “Abenomics experiment” in Japan, and a possible escalation of tensions in the Middle East. It is clear that a sustainable recovery will have to rely significantly on diversifying and restructuring our economy towards exports, and achieving a positive balance in our trade with the rest of the world. British companies have massive untapped potential to expand, but they need the right backing to help compete and penetrate into new expanding markets. Not only will British companies find the support they need to export through our Chamber Network, but they will also benefit from the expertise and insight we now offer on expanding markets around the world. With this in mind, we’re delighted to be working in partnership with UK Trade and Investment to accredit and develop British Chambers of Commerce in 21
key growth markets across the globe, with more to come. Because these organisations are strongly rooted in the business communities in their home markets, they will give exporters a route into fastgrowing countries, allowing them to access specialist trade support and services globally as well as locally. Only by increasing the scale of support for our businesses and encouraging them to ‘think global’ will we begin to rebalance.
Fully Funded Trade Visits to EU for Kent Businesses The 2 Seas Trade (2ST) project is an EU Funded Interreg IVA project which aims to encourage and support SMEs in Kent, East & West Flanders and SW Netherlands to trade within these regions. The project will run until June 2014. The following sectors have been identified as the main (but not sole) focus group for the project based on strengths in Kent, East & West Flanders and SW Netherlands: • Business & Professional Services • Environmental Technology • Creative Industries • Logistics • Sustainable Construction • Food & Drink Businesses working in other fields are also welcome to participate in the programme, especially if they are completely new to international trade. For details visit http://www.2seastrade.eu or contact the Chamber
To read the full report visit http://www.britishchambers.org.uk/policymaker/policy-reports-and-publications John Longworth Director General, British Chambers of Commerce
December 2013-January 2014 ThinkingBUSINESS
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