THE business opportunities in Asia are wide-ranging, very large and fast-growing.
Earlier this year, the International Monetary Fund produced a report which highlighted that Asia’s economy will grow by 50% over the next five years.
British firms are well placed to take advantage of the many business opportunities in Asia, as there is already a proven demand for goods and services from the UK.
With support from UK Trade & Investment (UKTI), including enhanced financial assistance, more companies from the North East can take advantage of the enormous potential for international trade that key Asian markets offer.
At a special event taking place in Newcastle next week, international trade experts from 12 Asian markets will be coming together to give North East firms an insight into the business opportunities that are available.
The Doing Business in Asia event has been organised by UKTI in partnership with the Royal Bank of Scotland and NatWest and is supported by the Confederation of British Industry, Institute of Directors, British Chambers of Commerce, Engineering Employers’ Federation, China-Britain Business Council and UK India Business Council.
The team of experts is touring the country and will be in the North East for one day only – Wednesday, November 24 – at Newcastle Racecourse, High Gosforth Park, from 8.45am until 3.30pm.
The morning session will be devoted to market clinics with briefings focusing on China, Hong Kong, Taiwan, Singapore, Malaysia, Philippines, India, Indonesia, Japan, Thailand, Vietnam and South Korea.
Experienced trade and investment officials from British embassies and high commissions will be on hand to provide expert advice on the markets and how companies can be successful there.
There will also be a chance to hear from companies already successfully doing business in Asia and to take part in interactive question and answer sessions with experts from the markets of your choice.
The afternoon will offer delegates a chance to have one-to-one sessions with financial, legal and UKTI experts about their individual circumstances and the opportunities the markets may offer.
Now, thanks to new and enhanced services from UKTI, markets in Asia are closer than ever for companies from the North East to reach.
The new services delivered by UKTI will provide small to medium-sized businesses across the region with significant match funding support to travel to overseas markets, attend overseas trade fairs and give assistance to identify the best route into a market, whether it is via agents or distributors, franchise arrangements or direct investment in the new market.
There will also be match funding support with costs such as international web design, translations and localisation of materials.
In addition, the new funding has allowed UKTI to enhance some of its existing services to companies in the North East, such as Passport to Export, which helps companies start exporting for the first time, Gateway to Global Growth, which is aimed at more experienced exporters, and the Virtual Export Manager, which helps companies deliver an export strategy to develop the potential of their international markets.
David Coppock, UKTI’s international trade director for the North East, said: “Through our existing services we’ve long been able to support a wide range of North East companies across many different sectors.
“These enhanced and new services take that support further, allowing companies not only to identify, research and access their target overseas markets, but to grow and develop them.”
Sir Andrew Cahn, chief executive of UKTI, said: “UKTI was recently acclaimed as the top trade promotion body by its peers and I believe events like these are a key element of our success and offer companies access to our experts in the overseas markets.
“Research clearly shows companies that export are more resilient and successful companies are always looking for new markets.
“The Doing Business in Asia event provides a great chance to find out about 12 markets and the opportunities that are available, practical advice on how to succeed in Asia today and the support available to help.
“We hope companies across the region will take advantage of this opportunity and join us, but places are limited so they will need to book soon.”
The Doing Business in Asia event costs £75 + VAT and places can be booked online at www.businessinasia.co.uk
Markets in Asia are closer than ever for companies from the North East to reach